> The European Investment Bank is a hero bank - it's the world's largest clean energy lender - but they have a dark side that uses cheap public money to build new coal-fired power stations. It's policy lunacy because it means the EU's bank is undercutting EU emissions reduction targets (let alone the world's). They should be switching that dark side money to the light side (and offering guarantees for qualifying climate bonds). See this useful overview about just how EIB lending is tying countries to carbon-dependent paths for 40 years, by CEE Bankwatch campaigner Manana Kochladze. Read more.
> Bonds from renewable energy companies will get preferential treatment over other unsecured debt under plans being considered by the Japanese Government to foster clean energy. This tactic is already used to help utilities raise funds for energy infrastructure — such as the nuclear plants now closed after post-Fukushima reviews. Debt issuance is a critical way of raising funds for investment, so extending the legal protection to renewable energy companies will be a big step in opening up the energy system to new players. Read More
> RWE has raised £600m in 22 year bonds to build offshore wind farms. Two weeks ago Dong Energy issued a 20 year £750m corporate bond and a €700 hybrid capital bond (hybrid capital bonds are like convertible bonds), we assume to fund their ambitious renewables development. They should consider doing an asset-linked Climate Bond!. RWE and Dong may have been inspired by renewables developer Iberdrola, who raised €600m last October. Who says bond markets are dead in the EU?
> If you’d like to come to the 2012 Environmental Bonds conference in London, 15 Feb, you can now get a 25% discount, simply because you're a Climate Bonds friend! It's a line-up full of Climate Bonds experts. All you have to do is Click Here.
> A Californian court ruling could revive the use of PACE bonds to finance residential energy efficiency improvements. Excellent! Read more at Environmental Finance and PACENow.
> Ideas for investing: new Science article on 14 most effective measures for reducing climate change, like encouraging a switch to cleaner diesel engines and cookstoves, building more efficient kilns and coke ovens, capturing methane at landfills and oil wells, and reducing methane emissions from rice paddies by draining them more often. They could cut emissions by half. Read More.
> New article by Sean Kidney in Canadian Corporate Knights magazine: "There’s a train leaving the station, one with a green paint job ..." Read more.
> Good story in Scotland's Holyrood magazine. "The City could rehabilitate itself and help combat climate change by focusing on clean finance, but the market will need new instruments and new skills...." Read More.
> Join me for coffee with legendary Innovest founder Matthew Kiernan as he rages on "How does refusing to take into account the biggest threat the planet faces make you a prudent investor?" - London 31 Jan @ 4pm. Email for details.
