Climate Bonds Blog

Posted: Jun 8, 2011 by Sean Kidney

A bill passed by the Connecticut General Assembly yesterday reconstitutes the State’s existing Clean Energy Fund to form the nation’s first full-scale “Green Bank”. Congratulations to the Coalition for Green Capital and others who've been pushing for this in the US.

 

Story at: http://us2.campaign-archive1.com/?u=445b6e705bfc895d1cec1626f&id=bce2705...

Connecticut votes to set up State-level Green Investment Bank
Posted: Jun 6, 2011 by Sean Kidney

Goal to Assure Integrity of Green Claims for Investors, Governments

SACRAMENTO & LONDON – California State Treasurer Bill Lockyer today announced he has joined the Climate Bond Standards Board, which is supervising a program to provide investors and governments an easy way to assess the integrity of environmental claims for green bonds.

California State Treasurer Bill Lockyer Joins International Board Developing Standards for Climate Bonds
Posted: May 31, 2011 by Sean Kidney

According to a story in Environmental Finance, Wind Prospect Group, a global wind developer, has launched a corporate retail "Green Energy Bond" in the UK market with the aim of raising £10 million ($16 million). The 4 year bond has a similar structure to the ‘ecobond’ issued by Ecotricity last December. More at http://www.environmental-finance.com/news/view/1737

UK wind developer tries £10m green energy bond
Posted: May 22, 2011 by Sean Kidney

Following in the footsteps of other multi-national development banks like the World Bank, the Asian Development Bank and the European Bank for Reconstruction and Development, the IFC have decided to try Japanese retail investors. They've issued $135 million of green bonds, in four tranches, with the last three tranches out 17 May.

Will the appetite of Japanese retail investors for green bonds ever be sated?

IFC issued $90m+ of green bonds two days before EBRD
Posted: May 22, 2011 by Sean Kidney

The European Bank for Reconstruction and Development (EBRD) has launched its third environmental sustainability bond, bringing its total issuance since December 2010 to €29 million ($41.4 million). As with previous bonds, they're aimed at the Japanese retail market.

The bond proceeds are “specifically earmarked to support a portfolio of ‘green’ projects".  Apparently a fourth green bond will be launched in the "near future".

See the full story at Environmental Finance.

EBRD launches third environmental bond
Posted: Apr 21, 2011 by Sean Kidney

Climate Bonds Initiative Chair Sean Kidney announced in London today that the Carbon Disclosure Project is joining the Climate Bond Standards Board, supervising a program to provide investors and governments with an easy way to assess the integrity of environmental claims for green bonds.

Mr Kidney said: “According to the International Energy Agency we need at least a trillion dollars a year to be flowing into low-carbon industries if we’re to avert catastrophic climate change. That money will come largely from bond markets. We need to ensure it’s invested properly.”

Carbon Disclosure Project joins international Climate Bonds Standards Board
Posted: Apr 21, 2011 by Sean Kidney

We have four new and distinguished Climate Bonds Advisory Panel members:

- Pedro Moura Costa, E2 environmental finance, co-founder EcoSecurities- Stuart Clenaghan, Eco System Services Limited and former Lehman/UBS fixed income manager- Jonathan Maxwell, founding partner, Sustainable Development Corporation- David Wood, Institute for Responsible Investment, Harvard University

Moura Costa, Clenaghan, Maxwell, Wood join Climate Bonds Advisory Panel
Posted: Apr 18, 2011 by Sean Kidney

According to Pensions & Investment magazine: "Money managers, institutional investors and others are combining efforts to drive the nascent green bonds market forward, and the fruits of their labor are becoming apparent."

It's an all-cast story, with quotes from CalSTRS, SSgA, UKSIF, SEB, IIGCC, AP3, Nikko, Calvert (if you know all the acronyms you qualify as a green bond groupie). The story also mentions the Climate Bonds Standards.

http://www.pionline.com/apps/pbcs.dll/article?AID=/20110418/PRINTSUB/304189979/1031/PIIssueAlert01

"Tiny green bond market looking ready to sprout" says P&I
Posted: Apr 4, 2011 by Sean Kidney
One of globalisation's cheerleader - Tom Friedman - welcomes Paul Gilding's new book on climate change, "The Great Disruption"!  What gives?

Paul argues that the world will wake up to the climate change crisis we face at some point in the near future. And when this happens, he thinks we will rapidly switch into a "war footing" type of response. This profoundly game-changing point will mean we will be able to do the things we've needed to do and on a massive scale. What does that mean for investors?

Invite: Paul Gilding on new book "Great Disruption", London Wed 13 April AM +Dickinson, Thamotheram, Robins, Kidney & Oulton
Posted: Mar 17, 2011 by Sean Kidney

Eversheds law partner Michele Thomas, speaking at this week's Environmental Bonds Conference in London, said that the banks her firm has been working with on renewable energy transactions are preparing to securitise those loans and sell their exposure via green bond structures. Eversheds is one of the top ten law firms in the UK.

Environmental Finance reports that she said “All the work we’re doing in certain technologies – for example solar – is done with a view to securitisation,” she said. “The banks realise they can’t continue to fund on a traditional project finance basis – they need an exit.”

Eversheds: banks are working on renewable energy securitisation