By Beate Sonerud, Climate Bonds Policy Analyst
Nord-Trøndelag Elektrisitetsverk (NTE), a Norwegian utility, has issued NOK750m (US$110.2m) of corporate green bonds in 3 tranches with varying maturity and floating coupons:
Climate Bonds Blog
Posted: Nov 19, 2014
Norwegian utility NTE issues NOK750m ($110m) of green bonds in 3 tranches to refinance hydro: 3, 5 & 7 yrs. Green bonds for refinancing key to grow the market. Oversubscribed in 2 hrs!
Posted: Nov 16, 2014
The Hawaii State Department of Business, Economic Development and Tourism (DBEDT) has issued US$150m of AAA-rated green asset-backed securities in two tranches. The first tranche for US$50m has an 8-year tenor and coupon of 1.467%. The second tranche for US$100m has a 17-year tenor and 3.242% coupon. Goldman Sachs and Citi were joint bookrunners.
Aloha! Hawaiian State Govt issues green ABS for solar: $150m, AAA in two tranches: 50m, 8yr, 1.467% + 100m, 17yr, 3.242%. An excellent example!
Posted: Nov 14, 2014
The International Cooperative and Mutual Insurance Federation (ICMIF), representing members with a collective US$ 8 trillion of assets under management, today joined the Climate Bond Standards Board, the organization working to clarify climate smart investments for bond investors.
Climate Bond Standard & Certification Scheme is a project of the Climate Bonds Initiative, which aims to mobilize capital markets for rapid transition to a low-carbon and climate resilient economy. It is overseen by a board now representing over $32 trillion of assets under management.
International Coop & Mutual Insurance Federation, representing $8 trillion, joins Climate Bonds Standard Board
Posted: Nov 11, 2014
RaboBank, the world's leading food and agricultural bank, has signed up as a Climate Bonds Partner. Evertjan Manuels, Head of Corporate Fixed Income Origination at RaboBank, said:
"We joined because the effort the Climate Bonds Initiative is taking in encouraging issuers, supporting investors and developing standards is pivotal to growing this market - and we see many opportunities to work together, for example in developing green bonds for the agricultural and food sectors."
Dutch giant RaboBank signs up as a Climate Bonds Partner
Posted: Nov 10, 2014
German regional bank NRW last week issued their second green bond - EUR 500m with a 0.25% coupon and a 4 year tenor. The bond is double the size of their inaugural green bond in November 2013. The bond priced at mid swaps -10bps. Underwriters were DZ Bank and HSBC; rating by Fitch. Prospectus is here.
Germany’s NRW Bank issues 2nd AAA green bond: EUR 500m ($636m) 4yrs. 2x over-subscribed in 3 hrs! Water, wind & energy efficiency
Posted: Nov 7, 2014
A new Climate Bonds Expert Working Group, made up of key water sector and industry experts from around the world will be meeting for the first time today to develop criteria for water investments that can be used to back green and climate bonds certified under the Climate Bond Standard – an easy-to-use tool for investors and governments that allows them to assess the environmental integrity of bonds with confidence.
New Climate Bonds Water Infrastructure Expert Committee meets today for the first time, discussing water investments that can be used for green and climate bonds
Posted: Nov 5, 2014
Leading environmental data provider, Trucost, has been confirmed as an approved verifier under the Climate Bonds Standard.
To issue a Climate Bond Certified bond, a company simply has to get the bond reviewed by an approved 3rd party verifier. The verifier’s job is to ensure that bond’s assets meet the Climate Bond Standard’s environmental and financial guidelines.
TruCost has been analyzing and verifying the sustainability reporting of the 4,500 largest listed companies, and is well-placed to join the growing ranks of verifiers.
Trucost confirmed as 6th verifier under Climate Bonds Standard
Posted: Nov 4, 2014
The Intergovernmental Panel on Climate Change (IPCC) issued a new report a few days ago, the summary of its full 5th report. It's a tough one.
IPCC Options on the menu: Climate disaster or $500bn of low-carbon investment opportunities p.a. Hmmmm.
Posted: Nov 3, 2014
Oekom Research AG, a leading ESG rating agency has been confirmed by the Climate Bond Standards Board as an approved Climate Bond Standards verifier.
Oekom Research AG confirmed as an approved Climate Bond Standards verifier
Posted: Nov 3, 2014
Since September’s highly successful California and Massachusetts green bonds there has been lots of talk of cities beginning to issue. The most likely starters at the moment would seem to be Connecticut’s Hartford(population 125,000) and New York City(population 8.4 million) – a David vs Goliath battle for first out.
We’re still waiting for more details to be published around proposed green bonds, but we do know:
It's David vs Goliath as Hartford in Connecticut (pop. 124k) and New York City (pop. 8.4m) race to be the USA's first Green City Bond issuer