While we report mainly about larger scale climate bonds, we're also seeing more small-scale, retail-focused bond issuance. We aim to cover these on an occasional basis (so let us know your sightings!). Two from the UK this month:
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Climate Bonds Blog
Posted: Jun 18, 2013
Bond snippets: Aussie CBD issues £7.5m corp bond to finance UK RE plans / BVP extends closing for EUR2m+ bond for Nthn Ireland wind
Posted: Jun 14, 2013
HONG KONG, 14 June 2013 – The Climate Bonds Initiative, in collaboration with the HSBC Climate Change Centre of Excellence, today launches its 2013 review of Bonds and Climate Change at the First Global Investor Forum on Climate Change being held in Hong Kong.
Apologies about the gremlin code - please don't miss our fabulous new report!
Posted: Jun 14, 2013
HONG KONG, 14 June 2013 – The Climate Bonds Initiative, in collaboration with the HSBC Climate Change Centre of Excellence, today launches its 2013 review of Bonds and Climate Change at the First Global Investor Forum on Climate Change being held in Hong Kong.
> Download A3 version of the report here < > For A4 version click here <
The report finds that:
New Climate Bonds-HSBC report reveals 25% growth in issuance of climate-themed bonds over past year
Posted: Jun 11, 2013
The IEA released their new Redrawing the Energy-Climate Map report in London yesterday. It offers 4 measures they say can stop the emissions growth by 2020 at no net economic cost, reducing emissions by 3.1 G - that's 80% of the savings required for a 2 °C path:
- Partial removal of fossil-fuel subsidies. Partial means the larger part of those subsidies going to the rich, leaving in place subsidies that help the poorest 20%.
- Implement selected energy efficiency policies. That's worth 50% of the 4 measures.
IEA offers a modest 4 for 2 deal to the world / Jorgen Randers: dealing with climate change will consume 12% of global GDP by 2050 / Sydney Climate Bonds meet next Mon
Posted: Jun 7, 2013
Just like being there in person ... (ok, that's a bit of an exaggeration).
Thank you to our co-host, CDC Climat, for organizing this. See below or click here. (Cliquez ici pour la version française)
PDFs available at http://www.cdcclimat.com/Conference-Climate-bonds-and.html
In case you missed it, the Paris 4 June Climate Bonds seminar video is now online
Posted: Jun 6, 2013
The Massachusetts AA+ green bond I mentioned last week got a lot of coverage on release this week - even the WSJ ran the story. But there was a twist: it seems the State had to scale back the total $1.1bn GO offering to $670m on tepid demand, but the green bond bit was 30% oversubscribed.
Mass slashes GO bond offering ... but $100m green bond bit oversubscribed. Could that be a "market signal"?
Posted: Jun 3, 2013
We have over 200 people signed up for our first Paris Climate Bonds seminar tomorrow with CDC Climat! If you can't join us by the Seine (it's going to be a beautiful 20C and sunny!) then you can listen in remotely via http://www.eyedo.com/en/WhiteBoard/Evenement/4002. 14:30-16:30 CEST.
This is a sneak preview of my remarks tomorrow:
Steering Capital towards a Low Carbon Economy
The other option to shifting investment: capital steerage / Listen in to tomorrow's sold-out Paris Climate Bonds seminar
Posted: May 24, 2013
Reuters reports that the US State of Massachusetts will issue $100 million of Green General Obligation Bonds, as part of a $1.115 billion parcel of bonds to be issued on 4 June 2013.
For credit purposes the bonds are standard Massachusetts State Government Bonds. The difference is that the State is guaranteeing to use the proceeds to finance “environmentally beneficial” projects.
Massachusetts to issue AA+ $100m Green Bond on 4 June
Posted: May 20, 2013
Tesla Motors' inaugural bond issue has been, as you'd expect, electrifying (just had to say that). The US electric sports car manufacturer has just issued a 5 year, $600m convertible bond in a fundraising program which has seen it raise approximately $1bn through shares and convertible bonds. Coupon is 1.5-2%; conversion premium is 35%; bookrunners were JPMorgan, Goldman Sachs, Morgan Stanley.
Tesla issues $600m, 5yr EV convertible bond / Reminder: join our Green Sukuk webinar this Thurs 2pm London time - http://goo.gl/3zYqD
Posted: May 15, 2013
Join us next week for this webinar on
Green Sukuk – why, what, howFinancing renewable energy in the Islamic World
From the Green Sukuk Working Group: Gulf Bond and Sukuk Council / Climate Bonds Initiative / Clean Energy Business Council MENA
Invitation: Green Sukuk Webinar - 23 May 2013, 5pm Dubai / 3pm CET / 2pm BST / 9am EDST