Munich-based bank, Münchener Hypothekenbank eG has EUR 35.7 billion (US$53 billion) as of June 30, 2014 of assets under management and has the biggest mortgage cover pool of all German Pfandbrief issuers.
Last year the bank issued a highly successful EUR 300m esg covered bond (ESG Pfandbrief). The bank has indicated its interest in also issuing Green Covered Bonds for low-emission housing.
Rafael Scholz, Head of Treasury at MünchenerHyp, said:
“There is enormous opportunity to develop a green covered bonds market in Europe. By creating a re-financing market for green mortgages we believe we can help accelerate the shift to sustainable housing.”
“The Climate Bonds Initiative have been a leading force in the development of this concept, and we will be working with them and other Climate Bond Partners to make sure this market fulfils its potential.
“We invite other Pfandbrief and Covered Bond issuers to join us.”
Climate Bonds CEO Sean Kidney said:
“MünchenerHyp have shown the market and regulators how a thematic covered bond can be issued. They have a strong commitment to ensuring that environmental objectives can be met alongside financial objectives.”
“With their support we will be bringing together different market participants to help grow green covered bond issuance.”
“MünchenerHyp becoming a Climate Bonds Partner with the express interest of growing green covered bonds signals a new stage in the development of the global green and climate bonds market.”
-------------------------------
The Climate Bonds Initiative has issued an open invitation to banks, issuers, investors and NGOs to join as Climate Bond Partners to help rapidly grow what is already a US$55bn market of green and climate bonds.
Partner benefits:
- Participate in different market development committees.
- Access to bonds data, including the latest green and climate bonds, underwriter details and new investment areas.
- Market insights, tailored corporate briefings and advice making the most of opportunities in the market.
