Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Williams Caribbean Capital

Williams Renewable Energy Limited (“WREL”) has created the Caribbean’s foremost solar energy business beginning with the deployment of 12 MWp of PV Solar funded via a BDS$40 million (US$20m) green energy bond program. BDS$19m has been raised to date with the planned issuance of the remaining BDS$21m by mid-2020 continuing in November 2019 with a BDS$5m raise to deploy a further 1.25 MW.

This “Green” project will not only be good for the bond Investors, but it will also be very beneficial to the island of Barbados in reducing imports of fuel and reducing the islands carbon footprint. Investors can use their investment in “Green” bonds to promote the fact that they are acting on climate change and behaving in a socially responsible way.

The Climate Bonds Standard Board approved the Certification of the Williams Renewable Energy Limited Fixed Rate Notes. Rigorous scientific criteria certified that WRELs bonds are consistent with addressing the 2 degrees Celsius warming limit in the Paris Agreement. This certification scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

This is the first Certification in the Caribbean.

 

Date of Issue Type of Instrument Size Tenor Country of Issuance CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT Annual Report Further Information
June 2019 Private Placement BD 3 million (USD 1.5 million) 4 years Barbados

Solar

pre issuance verification

 

Green Bond Framework