Climate Bonds Blog

Wkly blog: MS $500m inaugural GB ups ante with a rare US 2nd opinion, but v odd approach to pool; Brazil BRF’s €GB has great potential, but …; Latvia utility upsizes first GB; Terraform $150m GB tap

Posted: Jun 17, 2015

Corporate green bonds

Morgan Stanley inaugural green bond term ($500m, s/a 2.2%, 3 year, A-), introduces second opinions to the US bank bond market (excellent) but then does an odd thing with their pool: they will not maintain full value of a pool of green assets for the full bond

Morgan Stanley is the latest large bank to join the green bond party having issued its inaugural green bond last week, although the bank has been active in this space as an underwriter and co-founder of the Green Bond Principles.

8 ways green bonds can advance the EU Capital Markets Union agenda / come to our seminar in Brussels 9 July to learn more

Posted: Jun 12, 2015

By Beate Sonerud, Climate Bonds policy analyst

The Green Paper launched by the European Commission earlier this year recognized the potential role the Capital Markets Union could play in harmonising definitions and standards for green bonds. While it was great to see green bonds on the formal agenda, supporting standards is only one of a myriad of ways that green bonds fit squarely with the Capital Markets Union agenda.

8 ways green bonds can advance the EU Capital Markets Union agenda / come to our seminar in Brussels 9 July to learn more

May’s media digest sees emerging markets as a big theme – coverage in Bloomberg, Reuters, Global Capital, Enviro Finance + more

Posted: Jun 11, 2015

The growing anticipation of green bonds taking off in Asia has determined the flavor of May’s media digest. The widely commented report by Moody’s fits with this trend by pointing to India and China as countries offering ‘sizeable growth potential’.

Asia

Emerging markets, Asia awakes to green bonds, Matthew Thomas

May’s media digest sees emerging markets as a big theme – coverage in Bloomberg, Reuters, Global Capital, Enviro Finance + more

Invitation to legal counsel: London roundtable on legal issues around green bonds, 12 June AM

Posted: Jun 9, 2015

Next Friday morning, 12 June 8:00-10:00, we're holding in London a roundtable discussion on legal issues around green bonds. If you're in a law firm and looking at green bonds, please do join us. The roundtable is for legal counsel only.

Background:

Following a landmark green bond growth year in 2013, the labelled green bond market has once again experienced a year of incredible growth in 2014: by year-end there had been $36.6bn of green bonds issued by 35 different issuers. We're hoping that the market size will triple again in 2014.

Invitation to legal counsel: London roundtable on legal issues around green bonds, 12 June AM

The pool of Climate Bonds Standard verifiers is growing fast: Sustainalytics is the latest to join

Posted: Jun 8, 2015

Sustainalytics – the leading independent provider of environmental, social and governance (ESG) research and analysis to investors around the world– is the latest company to be confirmed by the Climate Bond Standards Advisory Board* as an approved verifier. They will be joining EY, KPMG, Bureau Veritas, DNV-GL, Oekom Research and others as approved verifiers under the Climate Bond Standard.

Sustainalytics has been actively involved in the green bonds space since mid-2014 and has provided second opinions for a number of green bond issuances with a climate focus.

The pool of Climate Bonds Standard verifiers is growing fast: Sustainalytics is the latest to join

June talks: Madrid Sust Bonds 9 June / London Green L'scapes 10th / Shenzhen 17-18th / London Sust Bonds 18th / Hong Kong Climate Bonds b/f 19th / Singapore Green Bonds Roundtable 22nd / Guiyang EcoForum Global 26th +more

Posted: Jun 8, 2015

8 June (today) — London: Green Securitization Roundtable at Nomura.Jointly hosted by LSE Grantham Institute for Climate Change and Climate Bonds Initiative.

HONG KONG Save the date: 19 June, Climate Bonds + ASRIA Breakfast Briefing at PwC: Sean Kidney & banker friends on "the emerging green bond market in Asia – what, where and how?"

Posted: Jun 5, 2015

Join us in Hong Kong at the breakfast briefing on the emerging green bond market in Asia co-hosted by the Climate Bonds Initiative and ASrIA.

The morning talk with Sean Kidney, CEO and Co-founder of the Climate Bonds Initiative, will revolve around the rapidly changing landscape of the green bond market and consider where the opportunities lie in Asia and how we can realize them.

You’ll also have a chance to hear from a surprise panel of representatives of major banks.

Event Details:

HONG KONG Save the date: 19 June, Climate Bonds + ASRIA Breakfast Briefing at PwC: Sean Kidney & banker friends on "the emerging green bond market in Asia – what, where and how?"

TenneT does yr’s largest GB: EUR1bn 2x oversubs / EUR150m retail GB from Belgian co. Shanks / Nelja Energia EUR50m 1st ever East EU GB / ABN Amro & ANZ Bank get Certified / on way: Latvia, LA Green City / Moody’s to get involved

Posted: Jun 4, 2015

This week Dutch transmission grid corporate TenneT broke this year’s record for largest green bond issuance with an impressive EUR1bn deal. ABN Amro (EUR$500m) and ANZ Bank (A$600m) issued very successful Certified Climate Bonds (blogged separately); the first green bond from Eastern Europe was issued by Nelja Energia; and Belgian waste company Shanks Group also came to market with a EUR150m ($167m) green retail bond.

Briljant! ABN AMRO debuts with green property bond, 1st euro zone Certified Climate Bond! Huge roadshow success sees deal upsized to EUR500m ($556m) yet still oversubscribed by x2 with EUR1bn of orders! 5yr, A2/A, 0.75%

Posted: Jun 3, 2015

Netherlands State-owned bank ABN AMRO has just closed a EUR500m ($556m) green property bond deal – the first euro zone green bond to be certified under the Climate Bonds Standard and now the largest Certified Climate Bond. Fantastic!

Climate Bonds Standard for Low Carbon Buildings officially launched at RI Europe 2015; new rules deliver FairTrade-like labeling

Posted: Jun 3, 2015

Today, the Climate Bonds Standard for Low Carbon Buildings was officially launched at the 8th annual RI Europe 2015, an investor-focused event held in London.

Green and climate bonds are where the proceeds go to projects or assets important to addressing climate change. The Climate Bonds Standard is a FairTrade-like labelling scheme for those bonds.

Climate Bonds Standard for Low Carbon Buildings officially launched at RI Europe 2015; new rules deliver FairTrade-like labeling

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