CDC Climate has published a useful paper on green bonds. They suggest that at a time when bank lending is squeezed, green bonds offer an alternative financing for initiatives with an environmental goal.
They also review Ile-de-France regional council’s recent 12 year, 3.625%, environmentally and socially responsible bond - essentially a "part" climate bond. It was an amazing success, 175% over-subscribed in the space of half-an-hour! This meant that the Region, which was expecting a €200 million loan, saw its order book swell to around €620 million. Ultimately, €350 million was raised for energy, low-energy social housing, and dedicated biodiversity as well as social and solidarity economy initiatives. Non-financial vetting of the Ile-de-France regional council has been done by Vigeo. Buyers were 84% French, 15% German and 1% Austrian. Full credit to Tanguy Claquin at underwriters Credit Agricole.
> I'll be at the NYC Environmental Bonds conference next Wed - discount tickets are still available if you buy through Climate Bonds. http://goo.gl/k2sKx
> Or join me at the Global Unions Committee on Workers’ Capital in Berlin 30 May, or at Carbon Expo in Cologne 31 May.
