The European Bank of Reconstruction and Development (EBRD) is, according to a friendly source, planning a new $250 million, 4.5 year bond under their "Environmental Sustainability" bonds program. SEB and Morgan Stanley are currently testing investor demand on behalf of the bank.
Climate Bonds Blog
Posted: Sep 10, 2013
EBRD testing the market for a new AAA 4.5yr $250m "environmental sustainability" bond, a.k.a. climate bond
Posted: Sep 9, 2013
Please join us in Boston on Monday September 23 for an intimate meeting about Bonds and Climate Change: the state of the market in 2013, 4-6pm. Please circulate this invite!
Speakers: Sean Kidney, Climate Bonds Initiative; Sean Flannery, Meister Consulting and former CIO SSgA Americas; Cheryl Smith, Trillium Investments.
The event will include a presentation on the recent HSBC / Climate Bonds Initiative report Bonds and Climate Change: the state of the market in 2013, plus a discussion about opportunities and key issues for investors and issuers interested in growing this market.
Report findings:
- Total universe of climate themed bond market = USD356bn (outstanding)
Boston Climate Bonds seminar Mon 23 Sept @SSgA / Sean Kidney Toronto Economic Club speech 24 Sept changed to breakfast (bumped by Canada's Minister for Finance!) / Climate Bonds Webinar Wed this week
Posted: Sep 5, 2013
This week the EIB announced it is tapping its Climate Awareness Bond for a further EUR250m in an announcement that makes takes the bond up to at least EUR900m. This is the first time the EIB has tapped the 1.375% November 2019 bond.
EIB (AAA) taps Climate Awareness Bond (Nov 2019) for further EUR250m = largest green bond issued to date. 2/3 investors European, ¼ Nordic.
Posted: Sep 4, 2013
Please join us in New York on Thurday September 26 for the US launch of the report Bonds and Climate Change: the state of the market in 2013, 12:30pm
Speakers include: Michael Eckhart (Global Head of Environment at Citi), Suzanne Buchta (Managing Director of DCM at Bank of America Merrill Lynch), Curtis Ravenel (Global Head of Sustainability, Bloomberg) and Sean Kidney (Climate Bonds Initiative)
This event is kindly hosted by Bloomberg, a light lunch will be provided.
Invitation to New York lunch event, Thurs Sept 26, 'Bonds and Climate Change: the state of the market in 2013', 12:30pm
Posted: Sep 3, 2013
Please join us for a breakfast event in Toronto on Tuesday September 24 where Sean Kidney will be presenting Bonds & Climate Change: the State of the Market 2013 at The Economic Club of Canada.
The talk will include discussion on:
- The existing $346 global climate/green bond market, including Canadian issuance.
- Demand drivers going forward, including an introduction to the new $21 trillion Global Investor Coalition for Climate Change.
- Prospective issuance / opportunities for investing in climate-themed bonds in the coming year.
- Hurdles faced by the climate bond market and its future potential.
- Benefits and options for green bond issuance in Canada.
Invitation to Canadian event on Bonds and Climate Change report, Sept 24th, Toronto
Posted: Aug 28, 2013
Join us for a presentation and discussion of the Climate Bonds Initiative report ‘Bonds & Climate Change: the State of the Market 2013’, commissioned by HSBC.
The webinar will include comments from Nick Robins (HSBC) and Sean Kidney (Climate Bonds Initiative) on current findings as well as hurdles and future potential. There will be time for questions and discussion.
The webinar is kindly hosted by the Principles for Responsible Investment
Report findings:
- Total universe of climate themed bond market = USD356bn (outstanding)
- The issuance of new climate-themed bonds was USD74bn in 2012, up 25% on 2011
Invitation to Webinar on Bonds & Climate Change rpt, Wed 11 Sept: Los Angeles 09:00 / Denver 10:00 / Chicago 11:00 / NYC 12:00 / London 17:00 / Paris 18:00
Posted: Aug 17, 2013
Nedbank's Green Savings Bond is a bog-standard bank offering for retail customers, except that funds are channelled to financing renewable projects under the South African Government's ambitious sustainable energy policy.
Sth Africa's Nedbank retail green bonds meets their R4bn ($393m) year one target. Over 20% from new customers. Giving customers a chance to vote with their savings.
Posted: Aug 16, 2013
The Solar Technical Working Group under the Climate Bond Standard and Certification Scheme have today published criteria for solar assets for bond certification.
The criteria are now subject to a 30 day period of public consultation - if you're interested you can comment on this page (see below). You can also see read the background paper and rationale for the criteria.
Solar eligibility criteria under Climate Bond Standard released for comment: all PV yes; CSP yes, but only if FF back-up is less than 15%; supply chain criteria still to come
Posted: Aug 15, 2013
China's State Council, the Chinese Government's cabinet, last week published an important and comprehensive plan to maintain a 15% annual growth for low carbon and environmental protection industries - with an important extra element.
The plan talks about opening up debt instruments as a means of financing growth in this area and proposes:
- Encouraging environment protection companies to issue green securities, including bonds.
- Establishing a loan grading system for environment friendly projects.
- Allowing private corporations to issue green bonds, or more specifically, bonds for energy saving and environmental protection.
China’s State Council (the Chinese govt's cabinet) has decided to encourage green corporate bonds as part of its financial market reforms. Bravo! Will the EU and the US follow?
Posted: Aug 13, 2013
Three weeks after adopting a new energy policy that axes coal lending, the World Bank is back with a new $550m, 2 year Green Bond, AAA. The bond coupon is 0.375%, slightly better than US Treasury bonds. (Rates sure a low, aren't they!)
World Bank is back with 2yr, $550m green bond, AAA, placed with asset managers, pension & insurance funds in US and EU