Republic of Austria Government Bonds (RAGBs) are issued through the Austrian Treasury in the name and for the account of the Republic of Austria. Funding is used for crucial tasks of the Republic. Commitment towards environmental protection is an integral part of the country's national identity. Austria commits to achieve climate neutrality by 2040 and intends to guarantee a clean environment by, for instance, reducing its GHGs emissions to mitigate climate change, reducing emissions of air and water pollutants, preserving and improving biodiversity and ecosystems and reducing waste. Austria's climate change policies and targets are embedded in the 2015 Paris Agreement as well as influenced by EU goals.
Austria is committed to the sustainable transition of the economy and it is one of its government aims. This is in line, among other things, with the Paris Agreement. To contribute to the financing of this environmental transition, the Austrian government issues Sovereign Green Bond.
The issuance of bonds in this framework will support eligible categories with the purpose of the transition to a sustainable economy. The proceeds will, for instance, contribute to:
- the expansion and electrification of Austria's rail network with the goal of reaching 85% electrification by 2030 and significantly increase the share of eco mobility in total transport;
- foot and bicycle traffic, public modes of transport, and shared mobility with the ultimate goal of establishing a carbon neutral transport system by 2040;
- replacing fossil heating systems with climate friendly alternatives has enormous potential in avoiding climate damaging CO2 emissions of approximately 3.5 million tons annually.