Climate Bonds Blog

1. The Indian government is planning to use the proceeds from their new coal tax to help set up a green bank to fund renewable energy projects. Now that's a good idea for countries like the US, Australia and Brazil!

2. New article: We can learn from Japanese state banks how to use Climate Bonds to fund the transition to a low-carbon economy.

As the Cancun sun sets .... Russia helps sink Kyoto / UK Climate Change Committee a hit / Climate Finance Fund gets up / China’s low carbon Five Year Plan ... see below.

1. The UK Climate Change Committee (a statutory body under their Climate Action Bill) was popular amongst Cancun NGOs this week with its call for 60% emission cuts in the UK by 2030 and 50% by 2025. One NGO newsheet called it a “ray of sunshine”.

11 snippets today:

Ebrahim Patel, the SA Minister for Economic Development said in an interview this week:

"... using retirement funds as a resource to drive growth and development did not mean the government would impose requirements on institutions. The proposal, supported by labour and retirement trustees in the past, had simply lacked "reliable instruments to invest in", he said.

One possible example was a green bond, created by a development finance institution, such as the Industrial Development Corporation, which could apportion a prudent amount of funds towards green economy initiatives.