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The Times

Investors have bid against each other to buy Australia’s first green bond. Here’s why that’s a great sign

  • Written by Gordon Noble, Research Director, Institute for Sustainable Futures, University of Technology Sydney
Investors have bid against each other to buy Australia’s first green bond. Here’s why that’s a great signGreg Brave/Shutterstock

You might think government debt is bad, but it actually plays a crucial role in modern finance.

Back when he was treasurer, Peter Costello famously declared that April 21 2006 would be known as Australia’s “Debt Free Day”. On this day, he proclaimed, the Commonwealth would eliminate its net debt and...

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