Financial as well as non-financial institutions and agencies continue to partner with the Climate Bonds Initiative to increase their presence in the global green bonds market.
The Climate Bonds Initiative recently announced that EY (formerly Ernst & Young), one of the world’s leading auditing firms, and Thompson Reuters, a leading news and media enterprise, have joined it as partners.
EY is expected to contribute with regards to development of transparent and verifiable mechanisms linked to green bonds, having joined the Climate Bonds Initiative as an approved verifier for the Climate Bonds Standard in January this year.
Thompson Reuters, which provides intelligence information to businesses and professionals, has also joined in as a partner, and is expected to work with the Climate Bonds Initiative in offering stakeholders information solutions related to the global green bonds market.
This year has seen significant interest from several financial sector institutions in the green bonds market. Some of the leading banks, government agencies, and non-government organisations have partnered with the Climate Bonds Initiative. The long list of entities that become partners with the Climate Bonds Initiative this year include Citi, BlackRock, Allianz Group, International Institute for Sustainable Development, National Australia Bank, UNEP FI’s Principles for Sustainable Insurance, the Swiss Government’s State Secretariat for Economic Affairs, Green Building Council of Australia, German bank Münchener Hypothekenbank eG, and Dutch pension fund ACTIAM.
According to the Climate Bonds Initiative, October has already seen issuance worth over $5 billion, topping the highest monthly total of $4.48 billion in August, putting the cumulative issuance so far this year at just over $31 billion, which is well in-line with the expected final year total of $40 billion.
In a recent report on private sector participation in climate finance, the Climate Change Support Team has described green bonds as very attractive to institutional investors, as the risk and returns are determined by the financial health of the issuer and not just its clean energy assets.
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