Climate Bonds Blog

Posted: Sep 26, 2013

Media release


The Climate Bonds Initiative today released further data from their recent report ‘Bonds & Climate Change: the state of the market in 2013’, showing which lead managers are driving growth in this market.

"The report shows that there's a large amount of issuance out there in the climate bonds space, but the real game is with the underwriters. We continue to see very strong demand, so a step-up is needed in origination" said Sean Kidney, CEO of the Climate Bonds Initiative.

The climate bond underwriters league table: SEB, Citi, BAML, JP Morgan and HSBC lead the way
Posted: Sep 25, 2013

Yesterday the Canadian supplement to the Bonds and Climate Change report was launched by Sean Kidney with a speech at the Economic Club of Canada. The supplement is published in partnership with  Sustainable Prosperity

Report Highlights:

  • Canadian universe = C$5.7bn out of a global total of $346bn.
Canadian climate bonds universe = C$5.7bn, includes 3 renewable energy project bonds, 83% investment grade
Posted: Sep 19, 2013

Germany's PNE Wind AG has closed a €100m ($134m) 8% corporate bond with a final private placement with institutional investors of €33.7m.

PNE Wind will use the proceeds to expand its activities in offshore wind farm projects and to strengthen its portfolio of national and international onshore projects, especially the 189MW of wind farms they have under development in Germany.

German's PNE Wind €33.7m private placement completes €100m 8% corporate bond / Reminder: 'Bonds & CC' in Boston, Toronto, NYC next week
Posted: Sep 11, 2013

1. That EBRD AAA, 5 year "environmental sustainability" bond I blogged yesterday is out; proceeds go to climate related investments. See the EBRD announcement at http://goo.gl/8HwOBH. And check out their FAQ. Coupon is 1.625%. There were 14 buyers: 51% US, 31% European, 18% Asian. The sector allocation was: 64% to pension funds, 18% to central banks, 12% asset managers, 4% state-related investors, and less than 1% to bank treasuries and foundations.

EBRD $250m climate bond closes / Norway's REC planning $110m 5yr convertible / We're looking for climate science-savvy interns
Posted: Sep 10, 2013

The European Bank of Reconstruction and Development (EBRD) is, according to a friendly source, planning a new $250 million, 4.5 year bond under their "Environmental Sustainability" bonds program. SEB and Morgan Stanley are currently testing investor demand on behalf of the bank.

EBRD testing the market for a new AAA 4.5yr $250m "environmental sustainability" bond, a.k.a. climate bond
Posted: Sep 9, 2013

Please join us in Boston on Monday September 23 for an intimate meeting about Bonds and Climate Change: the state of the market in 2013, 4-6pm. Please circulate this invite!

Speakers: Sean Kidney, Climate Bonds Initiative; Sean Flannery, Meister Consulting and former CIO SSgA Americas; Cheryl Smith, Trillium Investments.

The event will include a presentation on the recent HSBC / Climate Bonds Initiative report Bonds and Climate Change: the state of the market in 2013, plus a discussion about opportunities and key issues for investors and issuers interested in growing this market.

Report findings:

  • Total universe of climate themed bond market = USD356bn  (outstanding)
Boston Climate Bonds seminar Mon 23 Sept @SSgA / Sean Kidney Toronto Economic Club speech 24 Sept changed to breakfast (bumped by Canada's Minister for Finance!) / Climate Bonds Webinar Wed this week
Posted: Sep 5, 2013

This week the EIB announced it is tapping its Climate Awareness Bond for a further EUR250m in an announcement that makes takes the bond up to at least EUR900m. This is the first time the EIB has tapped the 1.375% November 2019 bond.

EIB (AAA) taps Climate Awareness Bond (Nov 2019) for further EUR250m = largest green bond issued to date. 2/3 investors European, ¼ Nordic.
Posted: Sep 4, 2013

Please join us in New York on Thurday September 26 for the US launch of the report Bonds and Climate Change: the state of the market in 2013, 12:30pm

 

Speakers include: Michael Eckhart (Global Head of Environment at Citi), Suzanne Buchta (Managing Director of DCM at  Bank of America Merrill Lynch), Curtis Ravenel (Global Head of Sustainability, Bloomberg)  and  Sean Kidney (Climate Bonds Initiative)

This event is kindly hosted by Bloomberg, a light lunch will be provided.

Invitation to New York lunch event, Thurs Sept 26, 'Bonds and Climate Change: the state of the market in 2013', 12:30pm
Posted: Sep 3, 2013

Please join us for a breakfast event in Toronto on Tuesday September 24 where Sean Kidney will be presenting Bonds & Climate Change: the State of the Market 2013  at The Economic Club of Canada.

The talk will include discussion on: 

  • The existing $346 global climate/green bond market, including Canadian issuance.
  • Demand drivers going forward, including an introduction to the new $21 trillion Global Investor Coalition for Climate Change.
  • Prospective issuance / opportunities for investing in climate-themed bonds in the coming year.
  • Hurdles faced by the climate bond market and its future potential.
  • Benefits and options for green bond issuance in Canada.
Invitation to Canadian event on Bonds and Climate Change report, Sept 24th, Toronto
Posted: Aug 28, 2013

Join us for a presentation and discussion of the Climate Bonds Initiative report ‘Bonds & Climate Change: the State of the Market 2013’, commissioned by HSBC.

The webinar will include comments from Nick Robins (HSBC) and Sean Kidney (Climate Bonds Initiative) on current findings as well as hurdles and future potential. There will be time for questions and discussion.

The webinar is kindly hosted by the Principles for Responsible Investment

Report findings:

  • Total universe of climate themed bond market = USD356bn  (outstanding)
  • The issuance of new climate-themed bonds was USD74bn in 2012, up 25% on 2011
Invitation to Webinar on Bonds & Climate Change rpt, Wed 11 Sept: Los Angeles 09:00 / Denver 10:00 / Chicago 11:00 / NYC 12:00 / London 17:00 / Paris 18:00