Please join us on the 5th of July in Frankfurt for the European launch of the report Bonds and Climate Change: the state of the market in 2013, 10:30am 5 July 2013, Frankfurt
Speakers include: Nick Robins (HSBC) and Sean Kidney (Climate Bonds Initiative)Kindly hosted by Allianz Climate Solutions, FrankfurtRSVP to: bridget.boulle@climatebonds.net
Note that there will also be a London event - details to follow.
While we report mainly about larger scale climate bonds, we're also seeing more small-scale, retail-focused bond issuance. We aim to cover these on an occasional basis (so let us know your sightings!). Two from the UK this month:
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HONG KONG, 14 June 2013 – The Climate Bonds Initiative, in collaboration with the HSBC Climate Change Centre of Excellence, today launches its 2013 review of Bonds and Climate Change at the First Global Investor Forum on Climate Change being held in Hong Kong.
HONG KONG, 14 June 2013 – The Climate Bonds Initiative, in collaboration with the HSBC Climate Change Centre of Excellence, today launches its 2013 review of Bonds and Climate Change at the First Global Investor Forum on Climate Change being held in Hong Kong.
> Download A3 version of the report here < > For A4 version click here <
The report finds that:
The IEA released their new Redrawing the Energy-Climate Map report in London yesterday. It offers 4 measures they say can stop the emissions growth by 2020 at no net economic cost, reducing emissions by 3.1 G - that's 80% of the savings required for a 2 °C path:
Just like being there in person ... (ok, that's a bit of an exaggeration).
Thank you to our co-host, CDC Climat, for organizing this. See below or click here. (Cliquez ici pour la version française)
PDFs available at http://www.cdcclimat.com/Conference-Climate-bonds-and.html
The Massachusetts AA+ green bond I mentioned last week got a lot of coverage on release this week - even the WSJ ran the story. But there was a twist: it seems the State had to scale back the total $1.1bn GO offering to $670m on tepid demand, but the green bond bit was 30% oversubscribed.
We have over 200 people signed up for our first Paris Climate Bonds seminar tomorrow with CDC Climat! If you can't join us by the Seine (it's going to be a beautiful 20C and sunny!) then you can listen in remotely via http://www.eyedo.com/en/WhiteBoard/Evenement/4002. 14:30-16:30 CEST.
This is a sneak preview of my remarks tomorrow:
Steering Capital towards a Low Carbon Economy
Reuters reports that the US State of Massachusetts will issue $100 million of Green General Obligation Bonds, as part of a $1.115 billion parcel of bonds to be issued on 4 June 2013.
For credit purposes the bonds are standard Massachusetts State Government Bonds. The difference is that the State is guaranteeing to use the proceeds to finance “environmentally beneficial” projects.
Tesla Motors' inaugural bond issue has been, as you'd expect, electrifying (just had to say that). The US electric sports car manufacturer has just issued a 5 year, $600m convertible bond in a fundraising program which has seen it raise approximately $1bn through shares and convertible bonds. Coupon is 1.5-2%; conversion premium is 35%; bookrunners were JPMorgan, Goldman Sachs, Morgan Stanley.
