This week saw the first labelled green bond from the Asian Development Bank (ADB), which marks an important step forward from a leader in the Asian market. Pure-play wind power company Vestas closed its inaugural labelled green offering - important because it opens the door to other pure-play companies that have the potential to issue green. Another green guarantee was issued by OPIC with proceeds funding a wind project in Pakistan.
The green and climate bonds covered in this week’s blog are: Florida’s second green municipal water bond, an unlabelled climate bond for SolarStar in California and an unlabelled climate bond for transmission links for off-shore Wind in the UK. In other market development news; UK’s Labour Party proposes green retail bonds as an elction policy, Swedish insurers SPP will establish a green bond fund and IFC supports the growth of an Indian green bond market.
EIB taps EUR400m from 2019 AAA Climate Awareness Bond — and prices at a negative yield!
Big news from the World Bank this week with two green bonds issued: the first is a long 30 year tenor for insurance giant Zurich and the second is the World Bank’s biggest ever green issuance of $600m. Repeat issuance seems to be the theme of the week with another green bond from Swedish property company Vasakronan.
Monday. I’m in Delhi, in the bowels of the old, once-splendid Ashok Hotel, caught in a scrum of people trying to get our RE Invest conference registrations. “I guess it’s just crowded India” I think, then the guy behind the desk tells me they’ve had twice as many registrations as expected for this year’s conference, and people are still coming in. Ahhh.