Development Bank issuance
Nordic Investment Bank issues its third green bond (SEK 1bn ($116m), 5 yr, 0.155%, AAA)
Nordic Investment Bank (NIB) has issued a SEK 1bn ($116m) green bond, its third SEK denominated green bond issuance (they call them Nordic Environmental Bonds – NEBs). The bond has a 5 year tenor, coupon of 0.155% and was rated AAA by S&P. SEB and Credit Agricole-CIB were the joint bookrunners for the deal.
Please come and say hello if you're at any of these events I'm speaking at:
8 May – Vienna (Austria): Kommunalkredit’s “Innovative Development Finance Workshop 2015”.
12 May – San Francisco: Climate Bonds briefing 2.30-4.30pm. Open to all! RSVP info@climatebonds.net
Join us in San Francisco next week, 12 May 2015, for a briefing from Sean Kidney on what's happening and where we're going with the bubbling green & climate bonds market.
2.30pm for a 3.00pm start. Ends 4.30pm.
Topics:
Quarterly market updates will now be published in Japanese and Chinese.日本語版ブログ配信をご希望の方は黒田一賢(info@climatebonds.net)までご連絡ください。
2015年1-3月木は44のグリーンボンド、額にして72億ドルのグリーンボンドが発行された。1月の控えめな立ち上がりから毎月発行額が増加。3月の発行額は1月の3倍に上った。今年は再びグリーンボンド発行額が過去最大となる見込みだが、年末にパリでのCOP21を予定しており年後半にい発行が集中する模様だ。
By Motoko Aizawa, Senior Fellow, Climate Bonds Initiative
A 45 MW power plant running on soybean and recycled cooking oils, enough solar panels to cover six football fields, and 7 MW worth of fuel cells – when Syracuse Industrial Development Agency issued, on behalf of developer Destiny USA, $228 million tax-exempt green bonds in 2007 to finance a massive addition to a shopping mall, these were the green promises. And they remained exactly that: just promises.
All change at the top of the underwriter’s league table in Q1 2015 compared to the standings for Q4 2014. JP Morgan takes the lead for the first time ever! Despite not being involved in the 3 biggest deals of Q1, JP Morgan still managed to come out top after underwriting green municipal bonds for Iowa and City of Tacoma. JP Morgan was also involved in green bonds from KfW, Kommunalbanken and World Bank during Q1.
You can still register to the ‘Global Forum for the expanding Green Bonds Market’ taking place in London on the 29th April (next Wednesday!).
You’ll qualify for a free pass if you’re:
By Tess Olsen-Rong, Climate Bonds Market Analyst
The first three months of 2015 (Q1) have seen 44 green bond deals totalling $7.2bn of issuance. After relatively low issuance in January the amount of green bonds issued has been climbing each month, with March three times bigger than January. This year will be the biggest year ever for green bonds: there’s a healthy pipeline of bonds in the works and we expect Q3 and Q4 in particular to be strong in the lead up to the UN COP.
From a slow Q1 2015 start green bond issuance is climbing
Last week the European Commission’s Directorate-General of Climate published report on mobilising private finance for climate, co-authored by the Climate Bonds Initiative.
Three weeks ago we released our Climate Bonds Bioenergy Standard for public consultation. Bioenergy is energy made available from materials derived from biological sources such as wood, manure or other agricultural byproducts. Using waste products is preferred due to reduced social and environmental risks. The focus of the proposed criteria is on liquid biofuels, biogas, and solid biomass used for heat and electricity.
We’ve had some interesting responses, including suggestions that climate change benefits from biofuels – one of the forms of bioenergy addressed – are “a fallacy”. Well, that’s not quite right.
