Sidley Advises UpEnergy on World Bank Clean Cooking Outcome Bond - Dining and Cooking

Sidley Advises UpEnergy on World Bank Clean Cooking Outcome Bond - Dining and Cooking

Sidley represented UpEnergy in connection with a US$200 million bond issuance by the World Bank, which mobilizes US$30.5 million for UpEnergy’s clean cooking program authorized between Ghana and Switzerland under the framework established by Article 6.2 of the Paris Agreement. This is the first outcome bond where the variable return is linked to the monetization [...]

Sidley Advises UpEnergy on World Bank Clean Cooking Outcome Bond

Sidley represented UpEnergy in connection with a US$200 million bond issuance by the World Bank, which mobilizes US$30.5 million for UpEnergy’s clean cooking program authorized between Ghana and Switzerland under the framework established by Article 6.2 of the Paris Agreement. This is the first outcome bond where the variable return is linked to the monetization of Internationally Transferable Mitigation Outcomes (“ITMOs”). These ITMOs will be g…

World Bank's $200M Bond Links Carbon Credits and Clean Cookstoves in Ghana

The World Bank has settled a US$200 million Clean Cooking Outcome Bond to support clean cooking in Ghana. This bond was priced in early December 2025 and is set to mature in March 2032. It aims to make cleaner cooking accessible to more than one million people in Ghana. The funding will help distribute hundreds of thousands of improved cookstoves. These stoves reduce the need for wood and charcoal fuel. This bond is part of an emerging class of …