California State Controller John Chiang & State Treasurer Bill Lockyer invite you to a San Francisco Climate Bonds seminar with Sean Kidney, on Thursday 18 September 2014.
There are two separate meetings.
8.30 for 9am to 11am is for Investors and the Finance Sector. Program:
- Introduction by CA State Controller, John Chiang.
- Presentation by Climate Bonds' Sean Kidney & Bridget Boulle HSBC 2014 “Bonds & Climate Change: State of the Market” report.
- Update on green bond market developments (fast growth!), challenges and outlook (faster growth).
- Opportunities in California.
3.00-4.30 pm is a briefing for NGOs & Advocates, with Climate Bonds CEO Sean Kidney. Topics to cover:
- What is the green bond market all about? What it means.
- Linkage to needed climate change investments.
- Confidence in green claims, and the vital role of NGOs.
- How a large and liquid green and climate bond market will help drive down the cost of capital and improve access to lower-cost debt for climate projects.
Please join us. And please share this with colleagues others who may be interested.
RSVP to info@climatebonds.net and specify if you would like to participate in both AM and PM session or just one of those. There are limited chairs available; email now.
Background
The last year has presented an interesting and encouraging development for those of us interested in financing environmental solutions: the rapid growth of an international green bond / climate bond market. Some $24 billion in bonds of this type have been issued this year alone, with strong investor demand being a recurrent feature.
A 2013 World Economic Forum report projected the need for global investment in a low carbon economy at $5.7 trillion annually by 2020 to avert the most serious consequences of climate change. That will need to come from private investors, and the greatest share of institutional investor funds is allocated to bonds. The global bond market is worth $100 trillion, with 72% held by long-term investors. Bonds are ideally suited to fund the long-term infrastructure needed to develop a low-carbon economy. Bonds are designed to allow project sponsors to borrow against the future economic benefits to provide the investment needed now to deliver those benefits.
The California State Treasurer’s Office has been working with the Climate Bonds Initiative and others in developing a green bond market that is now breaking into the mainstream. A critical component needed to validate and maintain its integrity is the development of a Standard that provides assurance to investors about the environmental integrity and climate benefit of their investments. A transparent and uniform Standard will help the market grow quickly, and will allow investors and governments to easily set their priorities for climate bonds.
The Climate Bonds Initiative is leading a coalition of institutional investors and environmental NGOs from around the world in developing just such a standard. This coalition includes the Natural Resources Defense Council, the Investor Network on Climate Risks, the Institutional Investors Group on Climate Change, the California State Teachers’ Retirement System, and the California California Treasurer’s Office. It also has an industry working group that includes Standard & Poor’s, Aviva Investors, KPMG and fund manager ACTIAM. A series of technical working groups involve academics, NGOs and representatives of organizations such as the International Energy Agency and the European Investment Bank.
Location for meetings:
Investor/finance briefing, 8.30-11.00 am, Thurs 18 Sept @ Shearman & Sterling LLP, Four Embarcadero Center, Suite 3800, San Francisco.
NGOs and advocates briefing, 3.00-4.30 pm, Thurs 18 Sept @ NRDC, 111 Sutter St, 20th floor, San Francisco.
RSVP to info@climatebonds.net. There are limited chairs available; email now.
