The Climate Bond Standard has been released following approval by the Climate Bond Standards Board.
The Standard was launched at an event hosted by Shearman & Sterling LLP in London on November 24, 2011. Attended by over 130 guests from the investment and environmental community, it was an opportunity to continue the dialogue on solutions for greening the bond market.
Greg Barker, UK Minister of State for Energy and Climate Change reminded in his opening speech that the creation of internationally recognized standards will enhance credibility and create demand in green investing.
“The capital market have a vital role to play in tacking climate change by meeting the financial challenge. Here in London we are well placed, if we can’t crack it – then who can?” Greg Barker, Minister of State for Energy and Climate Change
The panel discussion included contributions by James Cameron (Climate Change Capital), Steve Lambert (National Australia Bank), Christian Kjaer (CEO European Wind Association), Nick Robins (HSBC Centre for Climate Change) and Sean Kidney, co-founder of the Climate Bond Initiative. Bill Lockyer, California State Treasurer provided a compelling video message and highlighted the opportunities that the growing green debt markets will bring.
The Standard will be a screening tool for investors and governments to support investment in delivering a Low Carbon Economy. Bonds complying with the Standard will be certified as ‘Climate Bonds’, a mark that assures their contribution to the delivery of a Low Carbon Economy.
The Standard is one of the projects from the ‘Market Facilitation’ workstream of the Climate Bonds Initiative.
This first prototype version of the Standard allows the certification of project development, corporate and other bonds linked to or backed by wind energy assets.
The Climate Bonds Standard is not a financial standard and makes no claims on the credit risk or return characteristics of a particular bond. The aim of the Standard is to simply provide assurance as to the relevance of the particular bond issuance in delivering a low carbon economy.