A week to go - places limited!
Climate Bonds Blog
Despite the political world’s best attempts, the earth is still spinning and issuing green bonds.
Meantime, the message coming from Morocco is, now more than ever, government and private sector action will need to step up between now and COP23 in Bonn on matching NDCs with climate finance.
Onwards to the Climate Bonds target of USD 1trn in green bonds by 2020!
ReNew Power Ventures has become the first entity to secure post-issuance Climate Bonds Certification, raising 5bn rupees (Rs. 500 Crore, USD 73.8m) to refinance debt for 90 megawatts of existing wind projects in Madhya Pradesh, India.
Brazil’s New Economic Narrative
The ratification of the Paris Agreement heralds the beginning of the global transition to a low carbon economy; focus is now shifting from pledges of action to constructing the mechanisms to finance this transition.
The Climate Bonds Initiative has released its COP22 Green Bond Directions paper, outlining growing awareness green bonds as NDC financing tools.
Growth, new markets and NDCs
Quarter 3 - the main points
Over USD 18bn was issued in Quarter 3 2016, bringing Q1-3 issuance for the year to just under USD 55bn.
This makes Q3 2016 our second largest quarter to date (with USD 18.1bn) – with Q2 this year narrowly holding onto the lead (USD 18.8bn).
Bank of China announces first green covered bond
I'm coming to you live from Casablanca Climate Finance Day 2016: where I'm watching Mustapha Bakkoury, Chairman of Masen (Moroccan Agency of Sustainable Energy S.A.) announce in a keynote the successful placement of their first, Climate Bonds Certified, 1 billion dirham (USD 117 million) bond.
China now is among the top ranks of countries in issuing green bonds to accelerate their green transition. Chinese issuance accounts for 38% of the global amount in the first three quarters in 2016.
For the first time, green bonds have been directly referenced in the Communique of G20 Hangzhou Summit, and new Guidelines for Establishing the Green Financial System have been released in late August. These major developments will add momentum to green bond growth.
It’s all about clean green infrastructure!