Hello, welcome to Impact Inside, the podcast series of Hasteria Investment Managers.

Today's episode will be presented by Luca Manera, one of the investment managers of Astoria,

who will explain to us how can we generate impact by investing in green bonds.

Can we generate impact by investing in green bonds. Can we generate impact by investing in bonds?

Absolutely yes.

There are many different types of sustainable bonds,

but today let's focus really on the ones that help to generate a positive impact for the planet, that is green bonds.

And they have been designed just to do that.

They generate a positive impact by helping investors and issuers finance green and sustainable projects.

But really, what are we talking about and what are green bonds?

They've been around for a very long time.

And most importantly, they're very similar to normal bonds.

However, they have a few unique characteristics.

Most importantly, the money that is being raised, that is the use of proceeds, is specifically

financing green or sustainable projects. Also, in order to provide confidence and transparency

to investors and to the market community, there are certain governance policies in place

specifically designed for green

bonds. That is, how do you select these projects? How do you manage the projects? And also,

what is important finally, is to be able to deliver to investors a report showing them how the

proceeds have been allocated, that is an allocation report, and also an impact report,

the amount of positive impact that these green bonds have generated for the investors.

But then the question is, who can issue these green bonds?

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