The European Investment Bank (EIB) and the European Union Bank announced Monday they will increase the Climate Awareness Bond by approximately $454 million by Nov. 2019.

This increase will bring the bond total to approximately $3.4 billion, making it the largest of its kind.

“Today’s issue underlines the strong lending activity of the EIB in favor of climate action, and reinforces our support for the sustainable development of the Green Bond market," EIB's Capital Markets Director Eila Kreivi said. "At a size of $3.4 billion, CAB 2019 has attained benchmark status in its own right, highlighting the popularity of this bond.”

As part of the European Union's public policy, the EIB is a leader in addressing climate change worldwide and backs sustainability through renewable energy and energy efficiency.