Reports

Green Bonds Mid-Year Summary 2017

Record issuance in Q2, Credit Agricole tops the underwriters table, diversity in deals, but more corporate green bonds needed and harmonization is on the way

 

Headline figures for the Half Year (H1) 

Green Bond Pricing in the Primary Market: Jan/2016 - March/2017

Anecdotal evidence has suggested that green bonds are heavily oversubscribed and may price tighter than expected. This report explores the data to discover whether or not this is happening.

Download Green Bond Pricing in the Primary Market here.

 

Report highlights

Post Issuance Reporting in the Green Bond Market-Trends & Best Practice June 2017

This is Climate Bonds Initiative’s first study on post-issuance reporting of green bonds. The aim is to follow up on post-issuance reporting by green bond issuers to see how thoroughly they are reporting on green bond allocation and projects.

German Green Bonds Market: 2017 Update

Climate Bonds and Deutsche Börse: German Green Bonds - Update & Opportunties (May 2017)

Climate Bonds Initiative has released a new paper produced in collaboration with Deutsche Börse, analysing the growing German green bond market.

Currently, the German market represents the 4th largest green bond issuer worldwide, after China, and the 2nd in Europe, after France. 

2016 COP22 Report: Green Bond Directions

This paper was released by the Climate Bonds Initiative in November 2016 ahead of the COP22. The paper outlines growing awareness green bonds as NDC financing tools.

Highlights

  • Climate finance through the green bond market has grown substantially in 2016, funding both climate mitigation and adaptation efforts. Issuance in 2016 is on track to be more than double that of 2015.
  • Growth in 2016 has been driven by government action and demonstration issuance in China - soon to be the world’s largest green bond market - with other emerging markets growing, including India, Brazil and Mexico.
  • Green bonds are now being seen as a capital raising tool to meet mitigation and adaptation targets set out in the Nationally Determined Contributions (NDCs).

Download report here

The Role of Exchanges in Accelerating the Growth of the Green Bond Market

The Role of Exchanges in Accelerating the Growth of Green Bond Market was launched jointly with Luxembourg Green Exchange on 18 May 2017.

Download the report here.

The discussion paper outlines developments to date and examines the strategic role that exchanges can play in assisting and stimulating green bond market growth by:

  • facilitating market liquidity,
  • geographic diversity,
  • investor access and
  • market integrity.

Study of China's Local Government Policy Instruments for Green Bonds

This report is jointly released by SynTao Green Finance and Climate Bonds Initiative at China's Green Finance Committee Annual Conference in April 2017. It provides an overview of local government policy instruments for developing green bond market in China with further recommendations. 

Green Bonds Policy: Highlights

Our policy team's roundup of  green bonds public sector action over the past year and major developments we look forward to seeing in 2017.

Top five green bond policy developments 2016:

  1. Green bonds seen as a key tool to implement national climate change targets (NDCs)
  2. Sovereign green bond programmes established
  3. Country-level action taking off
  4. Innovative green bond policy tools are on the table
  5. Increased international collaboration on green finance and green bonds: G20, FSB and EC

China Green Bond Market 2016

 This report, which was produced jointly by Climate Bonds and China Central Depository & Clearing Co. Ltd. (CCDC), provides a detailed analysis of the:

  • Characteristics of the domestic green bond market in China, according to green definitions from both the PBOC’s Green Bond Endorsed Project Catalogue and the international Climate Bonds Taxonomy (with charts)
  • Growing role of corporate issuers and diversity of bond structure, for example green ABS and green covered bond
  • Green bond market infrastructure and verification tools available
  • Major policy developments of the last year, from the launch of the PBOC’s announcement on green bond guidelines in December 15 to the establishment of the G20 Green Finance Study Group (GFSG)