Welcome to the Markets Monthly #8!
For more information on the Climate Bonds Database on Market Data email: dataenquiries@climatebonds.net
Financing Credible Transitions
The full session from Climate Bonds Conference, featuring Marisa Drew from Credit Suisse in conversation with Bloomberg’s Francine Lacqua is now available on YouTube. The session launched the Financing Credible Transitions white paper, a joint Credit Suisse and Climate Bonds project.
At 51:43secs it’s a wide ranging discussion worth listening to.
The full paper and summary note can be downloaded here. Watch our social media for scheduling of a special Transition Webinar with Credit Suisse in Mid-November.
Latest Reports
Green Bond Pricing in the Primary Market: H1 (Q1-Q2) 2020
This is the 10th iteration of “Green Bond Pricing in the Primary Market” covering January to June 2020.
The report monitors the performance of 38 EUR and eight USD denominated benchmark size green bonds with a total value of USD37bn issued during H1 2020.
The full series of Pricing reports is available here.
September at a glance
Overall, September 2020 issuance added up to USD32.2bn, bringing cumulative issuance volume since inception to USD948bn, edging closer to the USD1trillion milestone in the Climate Bonds Database. The figure translates into 12% year-on-year growth against September 2019 as well as a 132% increase compared to August 2020. It also marks an all-time monthly issuance record! The several new issuer names demonstrate that the green bond market is no longer a niche, but well on its way towards becoming a mainstream format for many debt-issuing organisations.
Evidence to support this include Non-financial Corporates’ volume for the month: the segment reached USD11bn which is another record for a single month. Aptly, the “drivers” behind the remarkable figure were the German carmakers Daimler AG (EUR1bn/USD1.1bn) and Volkswagen (EUR2bn/USD2.2bn). American telecommunications company Verizon also boosted the numbers with its second green bond (USD1bn). Elsewhere, corporates keep innovating to kickstart their low-carbon business transitions: Airbus (Netherlands) recently unveiled plans for commercial zero-emission aircraft.
Financial economy players are not far behind: Morgan Stanley just committed to reach Net-Zero financed emissions by 2050, and peer JP Morgan pledged to align its financing to the Paris Agreement, including setting decarbonisation targets on a sector-by-sector basis. In September 2020, Financial Corporates’ volume added up to USD9.6bn with the main part coming from German issuers such as Munich Re (EUR1.3bn/USD1.4bn) and Commerzbank (EUR500m/USD556m). SpareBank 1 Boligkreditt (Norway – EUR1bn/USD1.1bn) and Netherland’s Rabobank (USD1bn) also contributed significantly to the figure.
On the Sovereign side, the Republic of Ghana (EUR35m/USD42m) took out their first green loan – the first ever green debt instrument from the country (see New issuer spotlight) – whilst China pledged carbon neutrality before 2060 and peak carbon emissions by 2030, a landmark commitment from the world’s largest emitter and second-largest economy.
Total issuance for the month from Emerging Markets amounted to USD5.1bn, of which China made up more than a third with USD1.7bn. This came from two deals: Bank of China (CNY3.5bn/USD932m) and China Merchants Bank Co., Ltd (USD800m). Saudi Electricity (Saudi Arabia) added to that figure with USD1.3bn tapping the green bond market for the first time with two instruments (see New issuer spotlight). Qatar also joined the country list with an issuance from QNB Bank (USD600m).
A whopping USD24.7bn came from Developed Markets with record monthly volume from Germany: USD8.1bn. The deals that contributed the most to this figure came from Volkswagen (EUR2bn/USD2.2bn), Landwirtschaftliche Rentenbank (SEK1bn/USD106m), Munich Re (EUR1.3bn/USD1.4bn), and Daimler AG (USD1.1bn). The market saw deals from a total of nine German issuers. The USA came in second in the country ranking with volume from 16 issuers, with Verizon (USD1bn), New York MTA (USD900m) and Digital Realty Trust (USD834m) making up the lion’s share. This was followed by Italian issuers Unipol Gruppo (EUR750m/USD834m), ERG SpA (EUR500m/USD590m) and Falck Renewables (EUR200m/USD222m).
Moreover, there were another six countries with monthly issuance above USD1bn: the Netherlands (USD1.6bn), Norway (USD1.4bn), Sweden (USD1.2bn), Ireland (USD1.1bn), Denmark (USD1bn) and Japan (USD1bn).
In September 2020 almost 50% of the total volume went towards Renewable Energy projects and assets. This was fuelled by Landwirtschaftliche Rentenbank (Germany), Saudi Electricity (Saudi Arabia) as well as EIB (SNAT), each of which dedicated volumes over USD1bn to this category.
Financing for Low-carbon Buildings comprised another USD7bn, of which USD5.2bn came from Financial Corporates. Incidentally, a group of leading banks and property industry bodies recently launched industry standards for financing green home renovations: the Green Home Retrofit Finance Principles.
Financial institutions (FIs) play a crucial role in the transition to a low-carbon economy. Acknowledging this, the Science Based Targets initiative released its ‘Financial Sector Science-Based Targets Guidance’ to support FI efforts to address climate change.
> Check out the full list of new and repeat issuers.
> Click on the issuer name to access the new issue deal sheet in our online Bond Library.
Worth reading…
‘Transition Finance - Managing Funding to Carbon-Intensive Firms’ – Centre for Climate Finance & Investment
…and:
- ‘Developing Sustainable Finance Definitions and Taxonomies’ – OECD
- ‘Green Finance Strategies for Post-Covid-19 Economic Recovery in Southeast Asia’ – Asian Development Bank
New issuer spotlight - Certified Climate Bonds
Mercury NZ Ltd (NZD200m/USD133m), New Zealand, debuted with a seven-year instrument Certified against the Geothermal and Wind Criteria of the Climate Bonds Standard 3.0. The proceeds of this first bond will be used to finance the firm’s wind and geothermal energy assets. This pureplay energy company contributes around 17% of New Zealand’s total electricity generation.
An annual green finance program report will be made available publicly on Mercury’s website. The report will have details of the allocation of the proceeds. Details of Mercury’s generation capacity and assets are also available via their general annual reporting.
New issuer spotlight
Coca Cola FEMSA (USD705m), Mexico, completed its inaugural issuance with a 12-year unsecured green bond benefitting from an SPO provided by Sustainalytics. The company will finance a number of eligible projects, including the reduction in energy consumption and GHG emissions of its facilities; waste collection and recycling facilities; the procurement of recycled PET resin for its plastic packaging; and work towards a company-wide goal to replenish 100% of the water used for production for beverages through increasing reforestation and forest preservation.
Allocation reporting and disclosure on the progress on the environmental commitments will be provided as part of the company’s annual report until proceeds are allocated, with updates also provided in conjunction with any material developments. The allocation report will cover information on the amount of net proceeds allocated per category; a selection of brief project descriptions; the outstanding amount of unallocated proceeds at the end of the reporting period; as well as expected impact metrics. Examples of the latter include tons of waste recycled, tons of packaging material reused, acres reforested or preserved, reduction in GHG emissions, and electricity use.
Climate Bonds view: Coca Cola FEMSA addresses pressing issues in the food and beverage – and broader fast-moving consumer goods (FMCG) – industry with their green bond issuance. Among other important initiatives, the instrument will finance the procurement of recycled PET resin for its PET packaging – a step in the right direction to divert packaging inputs away from virgin plastics. In addition, the funding towards replenishing water use in its production chain is another example of a project seen less frequently in the green bond market, offering welcome diversification of green bond proceeds in general – especially important for investors.
Daimler AG (EUR1bn/USD1.1bn), Germany, issued its debut green instrument maturing in 10 years’ time. The bond, which benefits from an SPO issued by CICERO, will finance the development and production of zero emission vehicles including Battery Electric Vehicles (BEV) and Fuel-Cell/hydrogen-powered vehicles. Eligible expenditures also span the development, production and recycling of batteries/fuel cells, and related infrastructure. Additional categories in the green bond framework provide an indication of Daimler’s efforts to divert energy generation away from fossil fuels and into renewables such as solar and wind (excluding nuclear energy); improve water efficiency and waste management; and prevent and/or reduce the emissions of greenhouse gases and other harmful substances and pollutants into the air, soil or water.
Daimler will publish a Green Finance Investor Report annually until full allocation of the proceeds and thereafter in case of any material changes in the allocation. The reporting will include a description of the portfolio, as well as the amounts allocated and disbursed per category and geographical distribution. Where feasible, Daimler’s impact reporting will contain data on an aggregated portfolio basis. This includes the number of zero-emission vehicles sold and CO2 emissions saved in the use phase, as well as a summary figure on the annual CO2 emissions saved.
Climate Bonds view: With this green bond issuance Daimler underpins its commitment to the company’s CO2 reduction targets, including carbon-neutral production from 2022. The deal comes amongst a flurry of competing car makers, including Volkswagen with a Certified issuance and Volvo, tapping into the green market.
Seeing these companies finance low and zero carbon projects across their whole supply chain – having heavily relied on manufacturing ICE vehicles in the past – is testament to the fact that entire industries are willing to take measures to mitigate climate change and embark on green transition.
Government of Ghana (EUR35m/USD42m), Ghana, took out its first green loan to provide financial support for the government’s water projects in rural and peri-urban communities. These include the delivery of clean drinking water, alleviating up to 225,000 people from daily water poverty. This initiative forms a part of the Ghanaian government’s ‘Water for All’ policy programme.
Climate Bonds view: This is the first green debt security from Ghana. Water scarcity is a critical issue in Sub-Saharan Africa and has the potential to ignite significant conflict, especially in an environment of more extreme weather events and potential droughts – both exacerbated by climate change. Taking out a loan for water projects and addressing this issue using green finance tools is a sign that the importance of the climate crisis and the role of mitigation and adaptation are being acknowledged by the government. We hope to see more issuance from Sub-Saharan Africa as well as the whole continent, including more Sovereigns joining the green bond market.
Ijsbeer Energie Europa BV (EUR35m/USD39m), Netherlands, entered the market with a three-year green bond benefitting from an SPO provided by CICERO. Ijsbeer’s green bond framework is directed at its underlying project, Project Ice Block, a 125MW existing combined heat and power (CHP) facility located in Steenwijk, the Netherlands. The project’s aim is to retrofit the facility in accordance with circular economy principles with a view to increasing the plant’s energy utilisation from 25% to 90%. The framework allows financing technologies and assets associated with retrofitting the facility to include the production of pallet blocks and hot water, in addition to existing renewable energy generation.
After the construction phase, Ijsbeer will publicly disclose both impact indicators as well as proceed allocation on an annual basis. The allocation reporting will comprise a list and relevant details of each of the eligible projects. The impact reporting will vary based on the project category, and the environmental impacts displayed may be actual or estimated.
Climate Bonds view: The project that this company’s green bond(s) will finance is aimed at an ambitious target of a 65% increase in energy utilisation of the CHP facility. It underscores the role and relevance of not only building new renewable energy generation capacity but also refurbishing existing facilities for energy efficiency and the production of other key sustainable resources. It is great to see such commitments being financed through green bonds, and we hope that this “all-round” circular economy approach will be adopted and embedded by more companies across industries.
QNB Bank (USD600m), Qatar, brought its maiden green bond to the market. The instrument has a five-year tenor and benefits from an SPO provided by Sustainalytics. The framework covers a broad range of eligible assets and projects which can be financed or refinanced within the categories of renewable energy generation and infrastructure; low-carbon vehicles; forestry; water and wastewater management; as well as waste management.
Annual allocation and impact reports will be published until the bond’s proceeds are fully allocated. The allocation report will include a number of key indicators, including the size of the portfolio; the amounts allocated to the eligible portfolio; the share of financing vs refinancing; and the amount of unallocated proceeds. Impact reporting will be produced on a best effort basis with alignment to the ICMA-led Harmonized Framework for Impact Reporting.
Climate Bonds view: Climate Bonds welcomes the first green bond from Qatar. QNB Bank sets a good example for other issuers to follow with its broad and diverse range of eligible project categories. Qatar is the third country from the Middle East to join the green bond country list. This region continues to rely heavily on fossil fuels, and it is therefore encouraging to see issuers recognising the potential for clean technologies and green bond financing. We hope to see many more countries from the region to join the market.
Saudi Electricity (USD1.3bn), Saudi Arabia, tapped the green bond market for the first time with two green Sukuks. These five-year bonds have been assessed by Vigeo Eiris in an SPO. The proceeds of the bonds issued under this framework will go towards the procurement and installation of approximately 10 million smart meters, from which 3.5 million will be sourced from local manufacturers for different uses (including home, commercial, agriculture, etc.). These efforts form a part of the company’s smart metering project, which aims to provide Saudi Electricity’s customers with an automated billing process and improve their power usage patterns. Further, part of the bond funds will go to improving the transmission and/or distribution infrastructure required to connect renewable energy (wind and solar) sources to the grid.
Saudi Electricity will report annually and until full allocation of the proceeds, and afterwards in case of any material changes to the framework. Starting a year after the first issuance, reporting will take place through a dedicated impact report which will be made publicly accessible on the company’s website. After the proceeds have been fully allocated, the impact report will be integrated into the issuer’s annual ESG Report.
Climate Bonds view: We welcome another issuer from Saudi Arabia coming to the market – a country that has seen its first green bonds only in 2019 - and making a splash straight away by raising a large amount of capital through two consecutive deals. Wind and solar energy have enormous potential in many Middle Eastern countries, including Saudi Arabia, and the company is addressing two crucial enabling aspects in the renewable energy space: smart meters and grid infrastructure. Saudi Electricity has identified a preliminary list of nine projects to be completed by 2021 and the framework outlines clear objectives and benefits anticipated from the funded projects. This level of transparency at-issuance is to be applauded.
New issuers continued...
Public Sector
- AIB Group (EUR1bn/USD1.1bn), Ireland, 11Y original term, SPO provided by ISS ESG.
- Korea South-East Power (USD300m), South Korea, 5Y original term, SPO provided by Sustainalytics – issued in February 2020.
- Lagrange County Regional Utility District (USD10m), USA, 31.3Y original term, assured by BAM GreenStar.
- Power Authority of The State Of New York (USD1.1bn), USA, 40.5Y original term, SPO provided by Sustainalytics – issued in May 2020.
- Town of Wareham (USD14m), USA, 19.4Y original term, SPO provided by Kestrel Verifiers – issued in June 2020.
- Wood Trace Municipal Utility District No 1 (USD4m), USA, 23Y original term, assured by BAM GreenStar.
Financial Corporates
- CRE Logistics REIT (JPY2bn/USD18m), Japan, 5Y original term, rated Green1 by JCRA.
- Honda Finance (JPY30bn/USD276m), Japan, 5Y original term, rated by R&I (Japan).
- Metropolitan Life Global Funding (USD750m), USA, 5Y original term, SPO provided by Sustainalytics – issued in July 2020.
- Munich Re (EUR1.3bn/USD1.4bn), Germany, 20.7Y original term, SPO provided by Sustainalytics.
- Sato OYJ, Finland, 7.4Y original term, SPO provided by CICERO.
- Unipol Gruppo (EUR750m/USD834m), Italy, 10Y original term, SPO provided by Sustainalytics.
Non-Financial Corporates
- Arizona Public Service (Pinnacle West Capital), USA, 30Y original term, no third-party review.
- Arwidsro Fastighets (SEK400m/USD46m), Sweden, 3Y original term, SPO provided by CICERO.
- Bonava (SEK1bn/USD106m), Sweden, 2.5Y original term, SPO provided by Sustainalytics.
- Bonheur ASA (SEK700m/USD74m), Norway, 5Y original term, SPO provided by DNV GL.
- East Renewables (EUR75m/USD84m), Sweden, 2Y original term, SPO provided by CICERO – issued in May2020.
- Falck Renewables SpA (EUR200m/USD22m), Italy, 5Y original term, SPO provided by DNV GL.
- Johnson Controls (USD625m), USA, 10Y original term, SPO provided by Sustainalytics.
- NP3 Fastigheter (SEK500m/USD53m), Sweden, 3.3Y original term, SPO provided by CICERO.
- Pattern Energy (USD700m), USA, 8.1Y original term, SPO provided by Sustainalytics – issued in July 2020.
- Sumitomo Mitsui Auto Service Co Ltd (JPY10bn/USD92m), Japan, 5Y original term, rated Ga1 by R&I (Japan).
- Svenska Handelsfastigheter AB, Sweden, 3Y original term, SPO provided by CICERO.
Loans
- Fotowatio Renewable Ventures (EUR64m/USD71m), Spain, Certified Climate Loan,
- Rizoma Argo, Brazil, 7Y original term, Certified Climate Loan- issued in August 2020.
- The Farrer Park Company, Singapore, no third-party review.
ABS
- H2Energy (BRL19m/USD4m), Brazil, 12Y original term, SPO provided by Resultante.
- RBMS Green Belém No.1 (EUR331m/USD368m), Portugal, 42.9Y original term, SPO provided by Sustainalytics – issued in April 2020.
Visit our Bond Library for more details on August deals and a full history of debut green issuances going back to 2017.
Green bond outlook – selected deals
|
Issuer Name |
Country |
Closing Date |
Source |
|
CTP Group |
Netherlands |
01/10/2020 |
|
|
Harris County Municipal Utility District No. 489 |
USA |
01/10/2020 |
|
|
LBBW Landesbank Baden-Wuerttemberg |
Germany |
01/10/2020 |
|
|
Eidsiva Energi AS |
Norway |
02/10/2020 |
|
|
Magnolia |
Sweden |
02/10/2020 |
|
|
Raiffeisen Bank International |
Austria |
02/10/2020 |
|
|
CIFI (Corporación Interamericana para el Financiamiento de Infraestructura) |
Panama |
06/10/2020 |
|
|
Egypt Government International Bond |
Egypt |
06/10/2020 |
|
|
Equinix Inc |
USA |
07/10/2020 |
|
|
Volvo Car AB |
Sweden |
07/10/2020 |
October has seen multiple deals already with, for example, another automaker successfully placing their first green bond: Volvo (Sweden). The proceeds will go towards the design, development, and manufacturing of fully electric cars. Other debut issuers include Magnolia (Sweden) and CTP Group (Netherlands).
Furthermore, after launching its 2030 Sustainability Master Plan, CapitaLand (Singapore) is planning to raise financing through either sustainability-linked loans, green loans or green bonds.
Also, Scania (Sweden) is getting ready to issue a green bond after having launched its Green Bond Framework, which will finance heavy electric trucks and buses, as well as critical charging infrastructure.
Sovereign Green Bond Club
The Sovereign Green Bond Club is seeing a continuous stream of members. Egypt launched their first sovereign government green bond – the first from the Middle East North Africa region. The proceeds will be used to finance projects that reflect Egypt’s commitment to the UN’s SDGs.
Elsewhere, Mexico has taken its first steps in the sovereign sustainable finance sphere. It became the first country to issue a sovereign SDG-labelled bond raising USD890m under its new ‘SDG Sovereign Bond Framework’. Prior to this the market had seen sovereign sustainability bonds from South Korea and, more recently, Thailand, which issued a sustainability bond with a dedicated green tap. We will publish additional commentary on this innovative deal – also a Certified Climate Bond – in the coming weeks.
Data and references
Repeat issuers in September
Repeat issuers: January to August 2020 (not previously included)
- AFD (Agence Française de Développement): EUR1bn/USD1.1bn - February 2020
- BKS Bank: EUR3m/USD3.3m - July 2020
- CIFI (Corporación Interamericana para el Financiamiento de Infraestructura): USD3m - issued in February and August 2020 (3 deals)
- Fannie Mae: USD171.8m - issued in Augustt 2020 (5 deals)
- Hannon Armstrong: USD775m - issued in April and August 2020 (2 deals)
- LBBW Landesbank Baden-Wuerttemberg: EUR48m/USD53.4m - August 2020 (2 deals)
- Nordea Kredit (Nordea Bank): DKK64.259821m/USD9.6m - January 2020
- Ontario Power Generation: CAD1.2bn/USD921.8m - April 2020 (2 deals)
- Realkredit Danmark (Danske Bank): DKK1.1bn/USD163.8m - May 2020
- Renewable Japan: JPY14.5bn/USD133.4m - August 2020 (2 deals)
- Stockholms Lans Landsting: SEK400m/USD42.3m - January 2020
Pending and excluded bonds
We only include bonds with at least 95% proceeds dedicated to green projects that are aligned with the Climate Bonds Taxonomy in our green bond database. Although we support the Sustainable Development Goals (SDGs) overall and see many links between green bond finance and specific SDGs, in particular SDGs 6, 7, 9, 11, 13, 14 and 15, the proportion of proceeds allocated to social goals should be no more than 5% for inclusion in our database.
|
Excluded |
|||
|
Issuer Name |
Amount issued |
Issue date |
Reason |
|
Yangzhou Green Industry Investment Development Holding (Group) Co.,Ltd. |
CNY500m/USD72m |
28/09/2020 |
GB not aligned |
|
Copenhagen Infrastructure Partners |
TWD90bn/USD3bn |
01/04/2020 |
GB not aligned |
|
Sustainable Energy Utility Inc (15 deals) |
USD53m |
21/05/2020 |
GB not aligned |
|
Pending |
|||
|
Issuer Name |
Amount issued |
Issue date |
Reason |
|
Arkansas Development Finance Authority (Big River Steel) |
USD265m |
10/09/2020 |
Insufficient information |
|
Asian Development Bank |
HKD250m/USD32.2m HKD115m/USD14.8m |
17/09/2020 11/09/2020 |
Insufficient information Insufficient information |
|
Banco De Bogota |
COP114m/USD29,640 COP186m/USD48,360 |
24/09/2020 24/09/2020 |
Insufficient information Insufficient information |
|
Banco de Sabadell SA |
EUR500m/USD555.8m |
11/09/2020 |
Insufficient information |
|
Bell & Evans |
USD300m |
08/09/2020 |
Insufficient information |
|
Big River Steel |
USD900m |
18/09/2020 |
Insufficient information |
|
Campo Group |
JPY100m/USD0.9m |
31/08/2020 |
Insufficient information |
|
City of Lund |
SEK300m/USD31.7m |
25/09/2020 |
Insufficient information |
|
Credit Agricole |
USD112m |
06/08/2020 |
Insufficient information |
|
Daye Economic Technological Development (Group) Co., Ltd. |
CNY1.1bn/USD158.4m |
24/09/2020 |
General operating expenditure |
|
EDF |
EUR2.4bn/USD2.7bn |
14/09/2020 |
Insufficient information |
|
ENN Energy |
USD750m |
17/09/2020 |
Insufficient information |
|
FirstRand Bank |
USD225m |
01/09/2020 |
Insufficient information |
|
Germany |
EUR6.5bn/USD7.2bn |
09/09/2020 |
Insufficient information |
|
Guangdong Guangye Group Co., Ltd |
CNY1.8bn/USD259.9m |
19/08/2020 |
Insufficient information |
|
Guangzhou Public Transport Group Co Ltd |
CNY1.7bn/USD248.5m |
04/09/2020 |
Insufficient information |
|
Hunan Changde Deyuan Investment Development Company Limited |
CNY1bn/USD146.5m |
02/09/2020 |
Insufficient information |
|
Hungary |
JPY15.5bn/USD142.5m JPY4.5bn/USD41.4m |
18/09/2020 18/09/2020 |
Insufficient information Insufficient information |
|
Jianhu Urban Construction Investment Co Ltd |
CNY700m/USD100.8m |
08/09/2020 |
General operating expenditure |
|
JP Morgan |
USD1bn |
16/09/2020 |
Insufficient information |
|
Kingspan |
EUR750m/USD833.6m |
25/05/2020 |
Insufficient information |
|
Kommunekredit |
AUD40m/USD27.5m |
02/10/2020 |
Insufficient information |
|
Mediobanca Banca di Credito Finanziario SpA |
EUR500m/USD555.8m |
08/09/2020 |
Insufficient information |
|
Muenchener Hypothekenbank eG |
EUR15m/USD16.7m |
16/09/2020 |
Insufficient information |
|
Nanchang Railway Group Co.,Ltd |
CNY2bn/USD288m |
21/09/2020 |
General operating expenditure |
|
Nanjing Metro Group Co.,Ltd |
CNY2bn/USD288m |
17/09/2020 |
General operating expenditure |
|
New Jersey Resources |
USD120m |
03/09/2020 |
Insufficient information |
|
Qianxinan Water Resource Development and Investment Co Ltd |
CNY700m/USD100.8m |
24/09/2020 |
General operating expenditure |
|
RE Royalties |
CAD10m/USD7.7m |
30/09/2020 |
Insufficient information |
|
SENKO Group Holdings |
JPY10bn/USD92m |
17/09/2020 |
Insufficient information |
|
Shenyang Metro Co., Ltd. |
CNY1bn/USD144m |
17/09/2020 |
General operating expenditure |
|
Societe Generale SA |
EUR1bn/USD1.1bn |
22/09/2020 |
Insufficient information |
|
Stockholms Lans Landsting |
SEK1bn/USD105.7m |
09/09/2020 |
Insufficient information |
|
Sweden |
SEK20bn/USD2.1bn |
09/09/2020 |
Insufficient information |
|
Talent Yield Euro |
EUR500m/USD555.8m |
24/09/2020 |
Insufficient information |
|
Wuhan Metro Group Co.,Ltd |
CNY1.5bn/USD218.9m |
01/09/2020 |
Insufficient information |
|
Yalong River Hydropower Development Company, Ltd. |
CNY2bn/USD288m |
10/09/2020 |
General operating expenditure |
|
Yangzhou Green Industry Investment Development Holding (Group) Co.,Ltd. |
CNY500m/USD73.2m |
03/09/2020 |
Insufficient information |
|
Yichun Venture Capital Co. Ltd. |
CNY900m/USD129.6m |
09/09/2020 |
General operating expenditure |
|
Yunnan HuadiaN Jinsha River Hydropower Development Co., Ltd. |
CNY500m/USD72m |
17/09/2020 |
Insufficient information |
|
Zhenro Properties Group |
USD350m |
11/09/2020 |
Insufficient information |
|
Zixing Chengcheng Investment Co., Ltd. |
CNY800m/USD115.2m |
21/09/2020 |
General operating expenditure |
As always, your feedback is welcome!
Watch this space for more market developments. Follow our Twitter or LinkedIn for updates. E-mail data requests to dataenquiries@climatebonds.net.
‘Till next time,
Climate Bonds
Disclosure: Some of the organisations mentioned in this communication are Climate Bonds Partners. A list of Partners is available here.
