Triodos invests in regional government bonds from EU member states and the UK. We only select subsovereigns from countries that have no involvement in international sanctions, and that have signed and ratified international conventions on controversial weapons, human rights, labour rights, and the environment. This includes the International Labour Organization (ILO) conventions (e.g. on child labour, and forced labour), the international convention on civil and political rights, the biological and chemical weapon conventions, the non-proliferation of nuclear weapons treaty, the Paris Climate Agreement, and the convention on biological diversity, amongst others.
The green bond of Comunidad de Madrid finances three categories of projects: 1) recycling and composting waste in the region and the adoption of circular economy principles, 2) enhancing, maintenance and restoration of national parks and 3) replacing old internal combustion engine buses with electric and hybrid buses for public transport and subsidizing tickets for public transport to increase use of public transport instead of using cars. All the projects stimulate the circular economy, environmental conservation and clean transportation in the region of Madrid.