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Climate Bonds Blog

Vanuatu lagoon musings / sunset for coal at EIB, WBnk, USExImBank / momentum for ‘Ditch Brown, Buy Green’
Posted: Jul 31, 2013

I’m writing beside a beautiful lagoon on the tropical South Pacific island of Espiritu Santo, not far from where I was born and spent my early years.

Working on climate change introduces a note of melancholia to such holidays: how long before my waterside bungalow gets washed away in more extreme storm surges and rising sea levels? Does that bizarre tubular jellyfish that I managed to avoid snorkelling today represent the new dominant as oceans acidify?

At least there is good news on the energy front:

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Vanuatu lagoon musings / sunset for coal at EIB, WBnk, USExImBank / momentum for ‘Ditch Brown, Buy Green’
Invitation to Webinar on Bonds & Climate Change report, Thurs 15 Aug -- Sydney 17:00 / Hong Kong 15:00 / Delhi 12.30 / Dubai 11:00/ 9.00 Joh'burg / London 8:00
Posted: Jul 30, 2013

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

It will include a discussion with  Nick Robins (HSBC) and Sean Kidney on hurdles and future potential.

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

  • USD163bn outstanding aligns with benchmark-type rules on credit rating, size & currency.

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Invitation to Webinar on Bonds & Climate Change report, Thurs 15 Aug -- Sydney 17:00 / Hong Kong 15:00 / Delhi 12.30 / Dubai 11:00/ 9.00 Joh'burg / London 8:00
EIB goes again - 7yr, SEK750m ($115m) climate bond for Storebrand/SPP
Posted: Jul 22, 2013

On Friday the EIB placed a 7 year, SEK750m  Climate Awareness Bond with Norwegian pensions/insurance company Storebrand SPP. Coupon was 3-Month STIBOR +43bp.

This follows on from the €650m Climate Awareness Bond they placed a week earlier. Go EIB!

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EIB goes again - 7yr, SEK750m ($115m) climate bond for Storebrand/SPP
Buyer facts for EIB €650m climate / Climate Bonds Australia Pooled Funds meeting tomorrow / Adv Panel members Flannery & Mathews spread the word
Posted: Jul 15, 2013

Some further details about EIB's latest climate bond:

1. 60% of the entire transaction went to "socially responsible investors".

2. Investors were 32% from Benelux, 30% Germany, 22% France, 8% elsewhere in Europe and 8% from Asia. (UK investors don't make up much, falling into the 8% which make up the rest of Europe.)

3. Asset managers made up 38% of buyers, banks 35%, insurance and pension funds 15% and central banks and official institutions 13%.

4. It's the largest EUR denominated climate/green-labelled bond to date.

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Buyer facts for EIB €650m climate / Climate Bonds Australia Pooled Funds meeting tomorrow / Adv Panel members Flannery & Mathews spread the word
EIB has just closed a 6yr €650m Climate "Awareness" Bond
Posted: Jul 11, 2013

The European Investment Bank, after a gap of 15 months, today issued a new AAA €650m Climate Awareness Bond. Coupon is 1.375%, underwriters were Bank of America Merrill Lynch, Credit Agricole, DZ Bank and UniCredit. The bond’s proceeds are linked to loans to eligible renewable energy and energy efficiency projects.

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EIB has just closed a 6yr €650m Climate "Awareness" Bond
AfDB to issue $500m AAA green bond in Sept/Oct; arranger still to be selected
Posted: Jul 10, 2013

Environmental Finance today reports that the African Development Bank (AfDB) plans to issue a US$500 million AAA green bond in September or October. This would be AfDB's biggest green bond to date; they hope to start presenting to investors in coming weeks.

The AfDB has previously raised about $400 million through green bonds, via a number of small issues in the Japanase domestic Uridashi market.

An arranger has yet to be selected. That's a big opportunity for banks looking to establish their credentials in the space.

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AfDB to issue $500m AAA green bond in Sept/Oct; arranger still to be selected
Bonds & CC: last few tickets left for London on Thurs / Frankfurt on Friday / webinars mid-July. Speakers incl. HSBC, S&P, Allianz, EIB, DZ
Posted: Jul 2, 2013

Our Bonds & Climate Change : the State of the Market 2013 report was released in Hong Kong in mid-June. We're now doing presentations for different markets.

London: We can fit just a couple more people into Thursday's London seminar with follow-up panel on Europe - hurdles and future potential. But you'll need to RSVP quickly. Teleconference facilities are available.

Time: 15:45 registration for 16:00 start. Drinks at 18:00. 4 July 2013. Venue: Eversheds 1 Wood Street, London EC2V 7WS

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Bonds & CC: last few tickets left for London on Thurs / Frankfurt on Friday / webinars mid-July. Speakers incl. HSBC, S&P, Allianz, EIB, DZ
LONDON Save the date - Bonds and Climate Change: state of the market 2013; 4 July 3:30pm
Posted: Jun 24, 2013

Please join us in London for the UK launch of the report Bonds and Climate Change: the state of the market in 2013, 4 July 3:30pm

Speakers include: Nick Robins (HSBC) and Sean Kidney (Climate Bonds Initiative)Kindly hosted by EvershedsRSVP to: bridget.boulle@climatebonds.net  

 

Join us for a presentation and discussion on the recent HSBC and Climate Bonds Initiative report Bonds and Climate Change: the state of the market in 2013. The event will include a presentation of the report findings as well as a panel discussion on opportunities in the UK and continental Europe and key challenges faced by investors and issuers in investing in and growing this market.

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LONDON Save the date - Bonds and Climate Change: state of the market 2013; 4 July 3:30pm
$1bn solar bond, 22yr Baa3, issued by MidAmerican Energy's Solar Star to fund CA plant
Posted: Jun 22, 2013

According to the Wall Street Journal and BloombergBusinessWeek, MidAmerican Energy's Solar Star Inc last Thursday issued a $1 billion bond to finance solar plant construction. They had been signalling a $700 million bond, so this suggests take-up was strong.

Coupon is 5.375%, to yield 296 basis points more than benchmarks, with bonds due June 2035. Proceeds from the offering will be used to help fund construction. Rating by Moody's is Baa3.

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$1bn solar bond, 22yr Baa3, issued by MidAmerican Energy's Solar Star to fund CA plant
Save the date - Bonds and Climate Change: state of the market 2013, Frankfurt, 5 July,10:30am
Posted: Jun 18, 2013

Please join us on the 5th of July in Frankfurt for the European launch of the report Bonds and Climate Change: the state of the market in 2013, 10:30am 5 July 2013, Frankfurt

Speakers include: Nick Robins (HSBC) and Sean Kidney (Climate Bonds Initiative)Kindly hosted by Allianz  Climate Solutions, FrankfurtRSVP to: bridget.boulle@climatebonds.net  

Note that there will also be a London event - details to follow.

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Save the date - Bonds and Climate Change: state of the market 2013, Frankfurt, 5 July,10:30am
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