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Climate Bonds Blog

New Climate Bonds Expert Working Group kicks off to develop eligibility criteria for climate bonds linked to Agriculture and Forestry investments
Posted: Oct 30, 2014

Working group of 15 international experts gets the Standard development under way

The Climate Bonds Initiative held the first meeting of a new Agriculture, Forestry and Other Land Use (AFOLU) Expert Group last week. It is convened to develop eligibility criteria for assets and projects that can be used to back Climate Bonds. 

The Climate Bonds Standard is a FairTrade-like labeling scheme for bonds, designed to make it easier for investors to work out what sorts of investments genuinely contribute to addressing climate change. Investor demand for such investments has fueled the recent rapid growth in green bonds – from US$11 billion issued in 2013 to US$32 billion issued so far this year.

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New Climate Bonds Expert Working Group kicks off to develop eligibility criteria for climate bonds linked to Agriculture and Forestry investments
How about that: New Jersey has a cool new Energy Resilience Bank! It's basically a green bank with a climate adaptation focus + a big opportunity for green securitisation
Posted: Oct 30, 2014

A slightly different version of a green bank has just been added to what is a growing list - by the US state of New Jersey with their launch last week of an “Energy Resilience Bank”. Although not branded as green (the New Jersey government is of the climate-denying Republican variety, after all!), this is essentially a climate change adaptation bank, established in response 2012's Hurricane Sandy.

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How about that: New Jersey has a cool new Energy Resilience Bank! It's basically a green bank with a climate adaptation focus + a big opportunity for green securitisation
Royal Bank of Canada signs up as a Climate Bonds Partner!
Posted: Oct 30, 2014

Royal Bank of Canada (RBC), ranked last year as the world's 4th strongest bank, has become a Climate Bonds Partner Stuart McGregor, Managing Director and Head of European SSA for RBC Capital Markets, said:

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Royal Bank of Canada signs up as a Climate Bonds Partner!
New Climate Bonds Senior Fellow: Motoko Aizawa, expert in standard setting, ex-IFC & leading figure Equator Principles dvlpt, former advisor China Ministry for Env & CBRC. Focus to be on Climate Bonds Standard
Posted: Oct 28, 2014

As of November 1, 2014, Motoko Aizawa will join the Climate Bond Initiative as Senior Fellow and advise on further development of the Climate Bond Standards scheme. And what a catch she is!

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New Climate Bonds Senior Fellow: Motoko Aizawa, expert in standard setting, ex-IFC & leading figure Equator Principles dvlpt, former advisor China Ministry for Env & CBRC. Focus to be on Climate Bonds Standard
Stockland issues Australia’s first green bond! EUR300m (US$380m), 7yr, rated A-, 1.5% coupon. Proceeds for green buildings - but ratings used do not guarantee climate performance
Posted: Oct 27, 2014

Stockland, Australia’s largest diversified property group has issued a EUR300m (US$380m), 7-yr green bond. The bond is rated A-, achieving a 1.5% coupon. Underwriters were HSBC and UBS, and the bond is listed on Singapore Stock Exchange.  

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Stockland issues Australia’s first green bond! EUR300m (US$380m), 7yr, rated A-, 1.5% coupon. Proceeds for green buildings - but ratings used do not guarantee climate performance
Climate Bonds Partners program launched at World Pensions & Investments Forum in Paris. Join the ranks of climate bonds supporters!
Posted: Oct 24, 2014

Paris: Today, at the World Pensions & Investment Forum, Climate Bonds Initiative CEO Sean Kidney launched the Climate Bond Partners program to support investors, issuers and underwriters to grow the green and climate bonds market.

Sean Kidney said: "Our mission is to mobilize trillions from debt capital markets for climate solutions — for a rapid transition to a low carbon and climate resilient economy." 

"Growing a large and liquid green bonds and climate bonds market is a key part of that; we're at $50 billion globally, but we need it to be much much larger. We're inviting organizations around the world to join with us to make that happen."

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Climate Bonds Partners program launched at World Pensions & Investments Forum in Paris. Join the ranks of climate bonds supporters!
Kinexia’s Innovatec issues a EUR15m (US$19m) green bond, 6 yr, 8.125% coupon. Small in size, but high in yield! Higher yields is a sign of a maturing market
Posted: Oct 24, 2014

Innovatec, an Italian energy-efficiency and energy services company, issues a EUR15m (US$19m), 6-year green bond with coupon of 8.125%. Sole underwriter is JCI Capital. Innovatec is a fully controlled by Kinexia.

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Kinexia’s Innovatec issues a EUR15m (US$19m) green bond, 6 yr, 8.125% coupon. Small in size, but high in yield! Higher yields is a sign of a maturing market
Finally Europe’s first high yield green bonds! Abengoa issues 2x 5yr bonds for a total of EUR500m ($340m) – ‘B’ & ‘NotRated’. Moving down the ratings is a sign of the green bonds market maturing
Posted: Oct 24, 2014

Abengoa Greenfield S.A, a subsidiary of Abengoa S.A., has issued two green high-yield bonds (i.e. below investment-grade) for a total of EUR500m equivalent. For those of you unfamiliar with the company, Abengoa’s operations are focused on renewable energy (solar and biofuels), electricity transmission, energy IT systems, desalination and wastewater treatment.

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Finally Europe’s first high yield green bonds! Abengoa issues 2x 5yr bonds for a total of EUR500m ($340m) – ‘B’ & ‘NotRated’. Moving down the ratings is a sign of the green bonds market maturing
Q3 Green Bond Underwriters League Table: Credit Agricole & BAML move ahead of SEB! Will Flensborg weep or cry with joy as 'his baby' takes off?
Posted: Oct 21, 2014

Credit Agricole CIB (CACIB) and Bank of America Merrill Lynch (BAML) overtook SEB in Q3 to take the top two spots in the underwriters League Table

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Q3 Green Bond Underwriters League Table: Credit Agricole & BAML move ahead of SEB! Will Flensborg weep or cry with joy as 'his baby' takes off?
Responsible Investor blog: On three major risks to the market’s credibility; how standardization can help ensure that the green bonds market delivers on its potential
Posted: Oct 17, 2014

This month, Responsible Investor devoted their RI Insight report to Green Bonds: the future of sustainability financing. The report was prepared in association with the Climate Bonds Initiative and includes insights from: Bank of America Merrill Lynch, TIAA-CREF Asset Management, SEB, European Investment Bank, Skanska Financial Services, Oekom research, Vigeo, Sustainalytics, MSCI / Barclays, Bloomberg New Energy Finance, Länsförsäkringar AB, Actiam and the ICMA.

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Responsible Investor blog: On three major risks to the market’s credibility; how standardization can help ensure that the green bonds market delivers on its potential
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