Stockland, Australia’s largest diversified property group has issued a EUR300m (US$380m), 7-yr green bond. The bond is rated A-, achieving a 1.5% coupon.
Swedish real estate services company Fastighets AB Förvaltaren, owned by the municipality of Sundbyberg in Stockholm, issued its first green bond late last week.
I've been in Montreal today discussing the prospects for green property bonds and arguing it's as much about re-financing as new projects. We want an owner of a green hotel chain to be able to issue green bonds (and hopefully expand the chain) as much as an owner doing a new retrofit.
Green buildings are central to a shift to a low-carbon economy; the International Energy Agency(IEA) tells us that deep cuts in building emissions are needed to head off catastrophic climate change.
The Global Real Estate Sustainability Benchmark (GRESB) is an industry-driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe.
