The idea of green bonds or climate bonds is in fact quite simple: issue a bond and earmark the proceeds to green assets and investments. Make sure you’re transparent about what you’re doing and report back. Bingo. Sit back and bask in the glow of new investors, happier existing investors and burnished reputation.
Geothermal power has the potential to make an enormous contribution to a rapid transition to a low-emissions economy. The University of Utah estimates that heat from global geothermal resources is equivalent to 42 million megawatts of power. To give you an idea on what that means in practice, one megawatt can meet the power needs of about 1,000 homes. So here we are talking about the potential of 42 million megawatts – million! – that’s millions of homes powered by geothermal. That’s the scale we need!
Zurich: Over 60 people have showed up to the Credit Suisse Forum St. Peter this afternoon, for the pre-launch of the criteria for agriculture, forestry and other land use (AFOLU) under the Climate Bonds Standard.
Over the past year, a group of 16 leading academic and internationally recognised experts from the Agriculture, Forestry and Other Land Use (AFOLU) sectors have been meeting to draft a new set of eligibility criteria for the Climate Bonds Standard.
As you may recollect, we published on 17 July the draft of version 2.0 of the Climate Bonds Standard. The updated text has three key improvements:
