Quarterly Newsletter: Certifications from China & India

Date: Dec 2017

Issue 5 of our Newsletter profiles the latest developments in our Standards, increased use of Certification by issuers and lots of other updates

What’s inside

China and India get serious with Climate Bonds Certification

The Commercial Bank of China (ICBC) – the world’s biggest publicly listed company – has issued an inaugural USD2.15bn One Belt One Road Climate Bonds Certified green bond.

The ICBC has set an example of international best practice in green bond issuance. We expect to see other Chinese banks and more global issuers to follow their example.

Meanwhile the state owned Indian Renewable Energy Agency (IREDA) has obtained Climate Bonds Certification for its USD300m Masala Green Bond – the first green masala bond by a financial institution!

Big 10 Issuers Adopt Streamlined Certification

Repeat green bond issuers from the US to France to India are increasingly adopting our Programmatic Certification process. Since its rollout in January 2017, ten organisations across transport, energy, housing and municipal services are now using the streamlined certification process.

East Coast-West Coast lead on US green sub-sovereign issuance

Latest figures show that the race for US green bond issuance is driven by East Coast-West Coast issuers.

New York holds the first place, with USD4.5bn, and California closely follows, with USD4.3n.

The two states were amongst the early adopters of Climate Bonds Certification, and the New York State HFA and MTA have also joined the list of Programmatic Certifiers.

There’s more action to come in 2018 as California and New York continue the push on green finance.

Latest Criteria Developments

Criteria to be released or opened for public consultation soon:

  • Nature Based Water Criteria
  • Marine Fisheries, Aquaculture & Coastal Infrastructure Criteria
  • Forestry Criteria
  • Bioenergy Criteria
  • Low Carbon Buildings - Region Specific Criteria (England and Wales, first of the series, have just been released. Check the Low Carbon Buildings Criteria for more information.)

Download the full newsletter here.

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