BBVA and Pestana Hotel Group have issued the world’s first green bond in the hotel industry, according to the International Capital Markets Association’s (ICMA). The issue received a second party opinion from the environmental consulting firm DNV.GL, which allows the bond to be certified as green. The issue was a success due to the strong interest in the European market. The €60 million bond has a maturity of 6 years and was placed among institutional investors.