> The World Bank is exploring issuing the first Green Sukuk to fund low carbon development or environmental projects. They’re collaborating with the Islamic Financial Service Board (IFSB) to work out a framework to identify issues involved for Islamic financial institutions in the event of insolvency.
> A polite confrontation at the Aviation Biofuel Side Event at COP. Airbus, United Airlines and others presented their biofuels testing program (interesting) plus a range of fuel use reduction strategies, from wingtip tech to EU flight routing. They explain this as part of their commitment to reducing emissions. Someone asks how they square this with their well-funded actions to stop aviation being included in the EU ETS. Some fumbling awkwardness, then: “we think a regional approach is wrong, it should be global”. They need a better response than that.
> Climate Bonds at COP17. Let me know if you’re in Durban for COP17. I’m speaking at two more events:
IETA today at 5.15pm, on “The Next generation of Low Carbon Financial Instruments”. The Conference is near the COP Centre in the Standard Bank Building, Kingsmead Way.
WWF Monday 4.15pm, on “The Role of Public Finance to leverage Private Investments”, in the SA Climate Change Response EXPO area (“Jacket Plum Tree” tent) near the COP entrance.
I’ll also be at UNEP FI, OECD and WEF events.
> Upcoming events (let me know if you’re interested in attending):
Paris Climate Bonds: 13 Dec 4pm.
Sydney Climate Bonds meeting: 19 Dec (time TBA)
Melbourne Climate Bonds meeting: 20 Dec (time TBA)
