German regional bank NRW last week issued their second green bond - EUR 500m with a 0.25% coupon and a 4 year tenor. The bond is double the size of their inaugural green bond in November 2013. The bond priced at mid swaps -10bps. Underwriters were DZ Bank and HSBC; rating by Fitch. Prospectus is here.
Climate Bonds Blog
Posted: Nov 10, 2014
Germany’s NRW Bank issues 2nd AAA green bond: EUR 500m ($636m) 4yrs. 2x over-subscribed in 3 hrs! Water, wind & energy efficiency
Posted: Nov 7, 2014
A new Climate Bonds Expert Working Group, made up of key water sector and industry experts from around the world will be meeting for the first time today to develop criteria for water investments that can be used to back green and climate bonds certified under the Climate Bond Standard – an easy-to-use tool for investors and governments that allows them to assess the environmental integrity of bonds with confidence.
New Climate Bonds Water Infrastructure Expert Committee meets today for the first time, discussing water investments that can be used for green and climate bonds
Posted: Nov 5, 2014
Leading environmental data provider, Trucost, has been confirmed as an approved verifier under the Climate Bonds Standard.
To issue a Climate Bond Certified bond, a company simply has to get the bond reviewed by an approved 3rd party verifier. The verifier’s job is to ensure that bond’s assets meet the Climate Bond Standard’s environmental and financial guidelines.
TruCost has been analyzing and verifying the sustainability reporting of the 4,500 largest listed companies, and is well-placed to join the growing ranks of verifiers.
Trucost confirmed as 6th verifier under Climate Bonds Standard
Posted: Nov 4, 2014
The Intergovernmental Panel on Climate Change (IPCC) issued a new report a few days ago, the summary of its full 5th report. It's a tough one.
IPCC Options on the menu: Climate disaster or $500bn of low-carbon investment opportunities p.a. Hmmmm.
Posted: Nov 3, 2014
Oekom Research AG, a leading ESG rating agency has been confirmed by the Climate Bond Standards Board as an approved Climate Bond Standards verifier.
Oekom Research AG confirmed as an approved Climate Bond Standards verifier
Posted: Nov 3, 2014
Since September’s highly successful California and Massachusetts green bonds there has been lots of talk of cities beginning to issue. The most likely starters at the moment would seem to be Connecticut’s Hartford(population 125,000) and New York City(population 8.4 million) – a David vs Goliath battle for first out.
We’re still waiting for more details to be published around proposed green bonds, but we do know:
It's David vs Goliath as Hartford in Connecticut (pop. 124k) and New York City (pop. 8.4m) race to be the USA's first Green City Bond issuer
Posted: Oct 30, 2014
Working group of 15 international experts gets the Standard development under way
The Climate Bonds Initiative held the first meeting of a new Agriculture, Forestry and Other Land Use (AFOLU) Expert Group last week. It is convened to develop eligibility criteria for assets and projects that can be used to back Climate Bonds.
The Climate Bonds Standard is a FairTrade-like labeling scheme for bonds, designed to make it easier for investors to work out what sorts of investments genuinely contribute to addressing climate change. Investor demand for such investments has fueled the recent rapid growth in green bonds – from US$11 billion issued in 2013 to US$32 billion issued so far this year.
New Climate Bonds Expert Working Group kicks off to develop eligibility criteria for climate bonds linked to Agriculture and Forestry investments
Posted: Oct 30, 2014
A slightly different version of a green bank has just been added to what is a growing list - by the US state of New Jersey with their launch last week of an “Energy Resilience Bank”. Although not branded as green (the New Jersey government is of the climate-denying Republican variety, after all!), this is essentially a climate change adaptation bank, established in response 2012's Hurricane Sandy.
How about that: New Jersey has a cool new Energy Resilience Bank! It's basically a green bank with a climate adaptation focus + a big opportunity for green securitisation
Posted: Oct 30, 2014
Royal Bank of Canada (RBC), ranked last year as the world's 4th strongest bank, has become a Climate Bonds Partner Stuart McGregor, Managing Director and Head of European SSA for RBC Capital Markets, said:
Royal Bank of Canada signs up as a Climate Bonds Partner!
Posted: Oct 28, 2014
As of November 1, 2014, Motoko Aizawa will join the Climate Bond Initiative as Senior Fellow and advise on further development of the Climate Bond Standards scheme. And what a catch she is!
New Climate Bonds Senior Fellow: Motoko Aizawa, expert in standard setting, ex-IFC & leading figure Equator Principles dvlpt, former advisor China Ministry for Env & CBRC. Focus to be on Climate Bonds Standard