FirstRand Launches World's First Nature-Linked Outcomes-Based Bond

FirstRand Bank has issued South Africa's first nature-linked outcomes-based bond and the world's first commercial bank-issued capital markets instrument that links investor outcomes directly to independently verified ecological restoration results.

Issued under the bank's Domestic Medium Term Note (DMTN) programme, the US$142 Million (R2.5 Billion) bond will finance the removal of invasive alien plants from priority catchments within the Western Cape Water Supply System over a five-year period.

The initiative supports the work of The Nature Conservancy South Africa and the Greater Cape Town Water Fund, helping restore critical water source areas that underpin much of the country's economic activity.

Advisory Team:

Webber Wentzel

Karen Couzyn

Khurshid Fazel

Reneilwe Maleka

Catriona Robertson