> According to BusinessDay and Responsible Investor, South Africa’s state-owned Industrial Development Corporation is issuing a R5.2 billion green bond to finance clean energy projects. Expected return is 9%. R1bn of the bond was bought by the USD115bn South African Government Employees’ Pension Fund (GEPF).
> The World Bank has issued a new Green Bond - SEK 175m/USD26m, 5 year, 3.2%. That takes total outstanding Swedish Kroner Green Bonds from the World Bank to SEK1,575m, or USD238m. SEB was, as usual, underwriter.
> Robust industry policy at work: The Chinese government has recently introduced a "green credit" guideline for commercial lenders to facilitate economic restructuring in a manner that's “environmentally friendly and saves energy”. The China Banking Regulatory Commission, the country’s top banking regulator, has ordered lenders to cut loans to industries with high-energy consumption and high levels of pollution or excessive capacity, and to strengthen financial support for green industries and projects. The regulator wants banks to rate the environmental and social risks inherent in their clients' businesses and take the results as a key reference in their ratings and access to credit. That’s an AAA+ regulatory move! http://english.peopledaily.com.cn/90778/7739922.html
> Investors and NGOs (including Climate Bonds) are pressing UK Chancellor to get serious about supporting green industries, including relaxing borrowing restrictions on Green Investment Bank.
> An Environmental Bonds conference is being held in New York on 23 May 2012. Climate Bonds is a partner (CB Standards Board member Kirsten Spalding from INCR and I are both speakers). Lucky readers of this blog get a 25% discount on registration. Got to http://www.environmental-finance.com/file/437/eb12ny-climatebondsinitiative
