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Westpac Banking raises €500M from climate bond

Westpac Banking Corp. raised 500 million through the issuance of a seven-year climate bond to support the bank's funding for climate change solutions.

This is part of the lender's aim to facilitate up to A$3 billion of green bond issuance and arrangement by 2020, it said in a Nov. 26 release.

Proceeds will be used to fund renewable energy projects, low carbon commercial property and rail transport.

The bank issued its first climate bond in May 2016.