LSE is today introducing a new bond trading platform for retail bonds intended to "improve transparency and pricing" (the size of the bid-offer spreads which can be very large). The aim is to make corporate bonds more accessible for retail investors, and so to open up a new source of financing for companies and others.
Climate Bonds Blog
Posted: Feb 2, 2010
LSE introduces retail bond trading platform
Posted: Jan 28, 2010
What's unusual about this fund is that Nikko AM say they've developed the fund in cooperation with the World Bank, and they only invest in World Bank Green Funds, offered in a variety of currencies.
An interesting niche; they are confident of investor support within Japan. Worth noting that the country has already soaked up a series of World Bank Green Bond offerings.
What about Europe or the US?
Nikko to launch World bank Green Bond Fund
Posted: Jan 20, 2010
British Columbia's opposition party, the New Democrat, have announced a plan to issue Green Bonds to stimulate job growth and the new Green economy, as well as reduce greenhouse gas emission.
Canadians mulling Green Bonds
Posted: Jan 18, 2010
The World Bank has just done another NZD 75mm Green Bond, tailored for individual (retail) investors in Japan. They are billing them as "An innovative way for Japanese investors to help combat climate change through a high
quality bond investment". The lead manager is Daiwa.
New World Bank retail green bond
Posted: Jan 13, 2010
Nomura Securities Co. has announced that it will start selling environment-related bonds issued by Nordic Investment Bank on January 22.
Nordic's three-year bonds will be available in the New Zealand dollar and South African rand, with funds expected to be applied to loans for renewable energy and many other environmental projects.
Japanese media are referring to the bonds as "green bonds", a sign of local interest in such issues.
Nomura selling Nordic IB enviro bonds
Posted: Jan 6, 2010
A number of proposals for discussion have been added. For example, see http://www.climatebonds.net/proposals/energy-efficiency/
Site has been updated
Posted: Dec 21, 2009
Green banking specialist Triodos this weekend launched a new range of climate change bonds designed to offer consumers the chance to easily invest their savings in low carbon projects.
Triodos debuts new climate change bonds
Posted: Dec 19, 2009
Released a couple of hours after it was announced. Remarkably mundane looking pages with enormous import.
See also the draft text from the early hours of the same day.
Final text of the COP15 agreement
Posted: Dec 15, 2009
Media Release | Climate Bonds Initiative | PASS IT ON
CLIMATE BONDS: FAST-TRACK SOLUTION TO LOW-CARBON ECONOMY
The global bond market could play a central role in the fight against climate change, according to an international think tank.
Today the international Network for Sustainable Financial Markets launched the Climate Bonds Initiative, designed to foster the use of long-term debt to finance a rapid, global transition to low-carbon economy. The Climate Bonds Initiative is operating as an autonomous project supported the Carbon Disclosure Project.
Climate Bonds launch: fast-track solution to low-carbon economy
Posted: Dec 14, 2009
Financial innovation is much underutilised in dealing with the climate threat, both at the micro- and macro-levels. At the micro-level, for example, it is still impossible in some countries to acquire even a simple mortgage with which to overcome the upfront capital cost of microgeneration. At the macro level, for example, there is considerable untapped potential for climate bonds.
How better to mobilise a low-carbon future rapidly than the large-scale issuance of long-term debt to overcome medium-term investment barriers to achieving economies of scale in manufacturing? How better to find a way for pension-fund trustees to manoeuvre around the current dysfunctional definition of fiduciary responsibility?
Jeremy Leggett in the FT about climate bonds