I spent Wednesday sitting in the hallowed halls of the United Nations in New York for the biennual 2014 UN Investor Summit on Climate Risk Summit, hosted by the UN Foundation and Ceres Investor Network on Climate Risk (a Climate Bond Standards Board member). This is the preeminent forum for global investors to discuss the implications of climate change for capital markets - investors representing $22 trillion of assets under management were in the room.
Climate Bonds Blog
Posted: Jan 18, 2014
UN Investor Summit on Climate Risk in NY: Clean Trillion report launched - bonds galore
Posted: Jan 17, 2014
The United Nations Foundation and the Ceres Investor Network on Climate Risk (a Climate Bond Standards Board member) held an Investor Summit at the United Nations in New York. Climate Bonds and Green Bonds were top of the agenda.
One of the speakers was the UN’s top climate change official, Christiana Figueres, and she was very direct. See her press conference here (Christiana is at the 15 minute point).
Figueres @UN Investor Summit on Climate Risk: institutional investors who ignore climate risk face being seen as blatantly in breach of their fiduciary duty to their beneficial owners. The cat is out of the bag.
Posted: Jan 15, 2014
Today, AAA-rated World Bank (International Bank for Reconstruction and Development) launched a USD 550mn 18-month floating-rate World Bank Green Bond.
They keep coming... World Bank issues $550m short-dated green bond; with EIB takes 2014 "labelled" total to $1.3bn.
Posted: Jan 14, 2014
NEW YORK – The International Climate Bond Standards Board today welcomed the release yesterday of the Green Bond Principles by a consortium of international banks led by Citi, JP Morgan, Bank of America Merrill Lynch and Credit Agricole.
2/2: Climate Bond Standards Board welcomes launch by 13 international banks of new Green Bond Principles. Important step towards standards-based market, esp. for corp green bonds
Posted: Jan 14, 2014
We blogged the draft version a few months ago; at that stage it was just Citi and Bank of America Merrill Lynch. Things have moved forward and yesterday a more developed version was published. Now there are 13 banks involved, with JP Morgan and Credit Agricole joining the first two in the driver's seat.
This is a big development; and with even more banks expected to now sign up to the Principles they are likely to have a major impact on development of the market.
1/2: Thirteen major banks issue “Green Bond Principles” to guide development of Green Bonds market. This is Big! Read media statement & full text here; Climate Bond Standards Board comment in next email
Posted: Jan 14, 2014
Today, the EIB (AAA) announced that is has re-opened its EUR denominated Climate Awareness Bond for a further EUR350mn ($478mn) tap bringing the total size of the bond to EUR1.5bn or just over $2bn. This makes it the largest climate/green bond currently outstanding. The tap was timed with the publication of the Green Bonds Principles by major banks.
EIB goes again: taps Nov 19 Climate Awareness Bond for a further EUR350mn ($478mn) = biggest green bond outstanding at EUR1.5bn ($2bn)!!
Posted: Jan 13, 2014
LONDON – The Institutional Investor Group on Climate Change (IIGCC), which represents more than 85 of Europe’s largest investors with total funds under management of approximately EUR7.5 trillion, has today joined the International Climate Bond Standards Board. The Standards Board is supervising a program to provide investors and governments an easy way to assess the integrity of environmental claims for green bonds. Eric Borremans, IIGCC Vice Chairman and sustainability expert at Pictet Asset Management, will represent the IIGCC on the Climate Bond Standards Board.
Institutional Investor Group on Climate Change, representing EUR7.5 trillion of assets, joins Climate Bond Standards Board. Goal: to assure integrity of green claims for investors
Posted: Jan 10, 2014
We’re 10 days into the New Year and the first green bond is already out – the European Investment Bank has just announced the release of its latest Climate Awareness bond, a CHF350 bond (USD386bn). Lead managers were Barclays, Credit Suisse, Deutsche Bank and the coupon is 1.625%.
News Flash: first green bond in 2014 issued... EIB Climate Awareness Bond for CHF350m ($386), 11 yrs. And we're off!!
Posted: Jan 10, 2014
As a boy who grew up in the South Pacific, the idea of going to meetings in sophisticated Paris still gives me a thrill. So imagine how excited I get when we're hosting an event there - well, to be precise co-hosting, with our friends at KeplerCheuvreux and 2 Degree Investing.
You're invited!
It's on Tuesday 28 January 2014, from 14:00 to 17:45pm. Venue is the 'Auditorium FNCA' at 48-50 Rue de la Boétie, 75008 Paris, France.
It's a star-studded line-up. And it's free - although if we run out of seats priority will be given to asset owners and fund managers.
The first half, 14:00-15:30, is on "New Dynamics for Integrating Sustainability in Fixed Income" (It does sound better in French).
Reminder: Join us in Paris for our Climate Bonds / Sustainable Bonds / Green Bonds Conference, 28 January 14:00-17.45. Hear Dominique Dron, Florian Sommer, Julia Hoggett, Tanguy Claquin, Mark Lewis, Sean Kidney, James Ranaivoson & many more
Posted: Jan 6, 2014
The Climate Bonds Standard has established a Low-Carbon Transport Working Group to develop eligibility criteria for the certification of low-carbon transport related bonds – a means to enhance private investors’ confidence in financing the low-carbon economy.
New Climate Bonds Low-Carbon Transport Working Group kicks off development of certification eligibility criteria for low-carbon transport related bonds