Africa to issue climate change bonds

In a strategic move to leverage available capital for climate change adaptation, African states will announce African Risk Capacity (ARC) Extreme Climate Facility (XCF), a multi-year funding mechanism that will issue climate change catastrophe bonds. The bonds - planned to be issued in 2016 - will provide additional financing to participating countries to enhance their climate adaptation investments, in the event that weather shocks such as extreme heat, droughts, floods or cyclones increase in occurrence and intensity across the continent, according to marketwatch.com