For Immediate Release
New guide on financing the climate transition through bonds available for companies
Guidance published by EBRD, GCF and Climate Bonds Initiative
- New guide on issuing bonds to fund the climate transition now available
- The guide supports corporate issuers on their climate transition journey
- The guide is developed by EBRD and the Climate Bonds Initiative, funded by the Green Climate Fund (GCF)
London/Bucharest, 22/11/2023 15:00 GMT: Public and private sector issuers looking to finance their climate transition activities can benefit from a new guide on sustainable finance instruments.
The guide, developed by the European Bank for Reconstruction and Development (EBRD) and the Climate Bonds Initiative, and funded by the Green Climate Fund (GCF), provides issuers with a step-by-step guidance for issuing a credible Green, Social and Sustainability (GSS) bond to finance a corporate climate transition plan.
To achieve the goals of the Paris Agreement and meet the net-zero commitments pledged by governments, companies must decarbonise their business models and scale up climate solutions to gradually replace GHG-emitting assets, products, and services. Climate transition finance is a key tool to support these commitments and enable the decarbonisation, particularly in the hard-to-abate sectors. Sustainability, sustainability-linked and green bonds can be an effective tool to raise the necessary finance to upgrade climate technology and infrastructure.
The guide is aligned with standards and guidelines of Climate Bonds and the International Capital Market Association (ICMA).
The guide was launched in Bucharest on 22 November 2023 to Romanian public and private corporates, investors, policymakers, and other key market players.
Victoria Zinchuk, EBRD Director for Romania, said: “EBRD is a climate finance champion with all our activities aligned with the Paris Agreement since 2023, and ambitious targets on green finance. We are committed to help our clients access and deploy innovative financial instruments for the climate transition and we hope the guide will advance this critical agenda in Romania and beyond.”
Sean Kidney, CEO & Founder, Climate Bonds Initiative, remarked, “We stand at a pivotal juncture where emerging markets start to craft sustainable and resilient economic models. The new guide signifies a critical stride in furnishing Romania and Eastern European corporates with the necessary insights to navigate the sustainable finance landscape. It is designed to usher in a wave of informed decision-making to foster the climate transition.”
The Green Climate Fund (GCF), a critical element of the Paris Agreement, is the world’s largest climate fund, mandated to support developing countries raise and realise their Nationally Determined Contribution (NDC) ambitions towards low-emission, climate-resilient pathways.
The EBRD is a leader in climate finance and plays a prominent role in promoting the low-carbon transition and climate resilience of more than 30 economies across its regions. In 2022, half of its record €13 billion in investments were dedicated to green projects.
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For more details, please reach out to:
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Senior Strategic Communications Manager
Transition Finance
Climate Bonds Initiative
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X: @ebrd
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Notes for Editors:
About EBRD: The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 72 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well governed, green, resilient and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, X and YouTube.
About Climate Bonds Transition Programme: Climate Bonds aims to facilitate a broad economic shift towards net-zero targets, especially within high-emitting or 'hard-to-abate' sectors. By setting clear standards and policy recommendations, we enable financial flows to support credible transitions and offer a roadmap for industries to decarbonize. Our work helps investors and industry leaders understand and implement 1.5°C-aligned strategies, mobilizing capital to realize essential emission reductions.
About Climate Bonds Initiative (Climate Bonds): is an international organisation working to mobilise global capital for climate action. The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, assets, and whole entities. The scheme is used globally by bond issuers, governments, investors, and the financial markets to prioritise investments which genuinely contribute to addressing climate change.