Commonwealth Bank of Australia issued its first climate bond, a AU$650 million transaction linked to a broad portfolio of clean energy assets. CEFC was a cornerstone investor in the CBA bond, with a AU$100 million commitment. The CBA said proceeds from the issuance would fund 12 eligible Australian projects, including renewable energy generation through wind power, energy efficient buildings and low-carbon transport projects. The bond is backed by more than AU$1 billion of domestic renewable and low-carbon projects that meet the Climate Bonds Initiative’s (CBI) Climate Bond Standards. The CBA Climate Bond will be reviewed regularly internally by the bank, and by Ernst & Young (EY), which will provide independent review against the CBI standards annually until the bond matures in February 2022.