Climate Bonds Blog

Posted: Jan 10, 2014

We’re 10 days into the New Year and the first green bond is already out – the European Investment Bank has just announced the release of its latest Climate Awareness bond, a CHF350 bond (USD386bn). Lead managers were Barclays, Credit Suisse, Deutsche Bank and the coupon is 1.625%.

 

News Flash: first green bond in 2014 issued... EIB Climate Awareness Bond for CHF350m ($386), 11 yrs. And we're off!!
Posted: Jan 10, 2014

As a boy who grew up in the South Pacific, the idea of going to meetings in sophisticated Paris still gives me a thrill. So imagine how excited I get when we're hosting an event there - well, to be precise co-hosting, with our friends at KeplerCheuvreux and 2 Degree Investing.

 

You're invited!

It's on Tuesday 28 January 2014, from 14:00 to 17:45pm. Venue is the 'Auditorium FNCA' at 48-50 Rue de la Boétie, 75008 Paris, France.

It's a star-studded line-up. And it's free - although if we run out of seats priority will be given to asset owners and fund managers.

The first half, 14:00-15:30, is on "New Dynamics for Integrating Sustainability in Fixed Income" (It does sound better in French).

Reminder: Join us in Paris for our Climate Bonds / Sustainable Bonds / Green Bonds Conference, 28 January 14:00-17.45. Hear Dominique Dron, Florian Sommer, Julia Hoggett, Tanguy Claquin, Mark Lewis, Sean Kidney, James Ranaivoson & many more
Posted: Jan 6, 2014

The Climate Bonds Standard has established a Low-Carbon Transport Working Group to develop eligibility criteria for the certification of low-carbon transport related bonds – a means to enhance private investors’ confidence in financing the low-carbon economy.

New Climate Bonds Low-Carbon Transport Working Group kicks off development of certification eligibility criteria for low-carbon transport related bonds
Posted: Dec 23, 2013

 

Christmas climate bond: $100m, 6yrs @2.79%, ABS of cash flows from renewables & energy efficiency in buildings. That's the way to do it.
Posted: Dec 20, 2013

Christopher Knowles, Head of the Climate Change & Environment Division in the European Investment Bank (EIB)’s Operations Directorate since 2006, has today joined the Climate Bonds Advisory Panel.

Chris leads the EIB’s deployment of innovative financing products and structures in the climate and environment areas - critical tools if we're to make the most of our limited public funds - and plays a prominent role in the Bank’s engagement with a range of public and private counterparts in the same areas.

European Investment Bank's climate financier Chris Knowles joins Climate Bonds Advisory panel
Posted: Dec 17, 2013

Earlier this year the Commonwealth Secretariat was asked by member States to convene an "Expert Group on Climate Finance" to: explore practical actions to help unlock resources for small and vulnerable Commonwealth countries combatting climate change impacts.

The Expert Group was led by the former President of Guyana, Bharrat JagdeoUNEP FI Chair David Pitt-Watson and I served as "experts on private sector finance". Members are listed at the bottom of this note.

Commonwealth Secretariat climate finance group calls on Govts to review financial regulation so it supports the transition to a global low carbon economy
Posted: Dec 16, 2013

If you're in Paris at 14:00-17:45 on Tuesday 28 January 2014 - or looking for as good excuse to be there - come along to the Sustainable Bonds seminar we are co-hosting with KeplerCheuvreux and the 2ºC Investing Initiative.  Venue: Auditorium FNCA, 48-50 rue de la Boétie, 75008 Paris

 

The seminar will look at issues impacting on Sustainable Bonds, and at developments with Green and Climate Bonds. Speakers are:

Join us in Paris 28 Jan for seminar on sustainable & climate bonds
Posted: Dec 16, 2013

We saw a win last week: on 10 December the board of the European Bank of Reconstruction and Development (EBRD) adopted a new energy policy which effectively cuts out coal lending - except in ‘rare and exceptional' circumstances. This follows similar moves by the EIB, the World Bank, and the governments of the US, UK and all Nordic countries.

EBRD follows other dev banks and drops coal lending, except in "rare" circumstances. Progress.
Posted: Dec 9, 2013

The month ended with the German State of North Rhine-Westphalia (NRW) bank successfully issuing a AAA Green Bond to refinance ‘environmentally friendly water and energy projects’ in the region. This includes the ‘renaturation’ of the Emscher river, water management boards in the state, as well as their reservoirs and water treatment plants.

 

Nov review 7/7: NRW wraps up the month with a EUR250m green/water bond ... but ain't no standards
Posted: Dec 9, 2013

While we knew the bond was in the pipeline, we didn't quite expect a EUR1.4bn bond ($1.9bn) and it could have been bigger!  Apparently it was two times oversubscribed.

 

This bond shifted the market firmly away from the AAA space and demonstrated that there is plenty of demand further down the ratings scale to A+.

Nov review 6/7: And then came the whopper ….EDF's EUR1.4bn