Today, Pricewaterhouse Coopers (PwC) joins the Climate Bonds Standard Industry Working Group at a meeting of the Group to discuss proposed new Climate Bonds eligibility criteria for low-carbon buildings and bus rapid transit systems.
Pricewaterhouse Coopers (PwC) is one of world’s biggest professional services networks, with a sustainability and climate change advisory and assurance team of 700 experts.
The Expert Technical Committees that work on expanding the Standard’s coverage of assets (water, agriculture & forestry and bioenergy) rely on the expertise of the Industry Working Group to ensure that proposed eligibility for assets that can be used to back climate bonds are bond-market friendly. Essentially, the Industry Working Group’s role is to create a bridge between climate science and the bond market.
PwC joins other Industry Working Group members such as Standard & Poor’s, Aviva Investors, KPMG, DNV-GL, Calvert Investments, Climate Strategy & Partners, ACTIAM & the IFC (part of the World Bank Group).
Damian Regan, PwC UK's Financial Services Sustainability Assurance leader said: “We believe that clear market Standards will, as in other markets, allow the green bonds market to grow much more rapidly. We’re keen to work with the Climate Bonds Initiative to ensure those Standards are both scientifically robust and practical for the bond market.”
Climate Bonds CEO Sean Kidney said: “PwC has been a leader in a wide range of initiatives designed to address climate change, including being a key partner in one of our parent organizations, CDP. We are privileged to have them join this pivotal committee helping to establish Climate Bond Standards.”