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REGI Announces Proposed $500Mn Green Bond Offering (Ind. Report)
Renewable Energy Group
Date: 2021-05-05
In the Hawkeye State, Ames-headquartered Renewable Energy Group, Inc. reports it intends to offer, subject to market conditions and other factors, $500 million aggregate principal amount of senior secured notes due 2028 in a private placement.

REGI estimates the offering will net approximately $489 million, which will be used to finance or refinance, in part or in full, new and/or existing eligible green projects, including the expansion of its Geismar, Louisiana biorefinery.

Renewable Energy Group, Inc. is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and one of North America's largest producers of advanced biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. The company utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REGI produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction, according to the release. (Source: Renewable Energy Group, Inc. Website PR, 4 May, 2021) Contact: Renewable Energy Group, Todd Robinson Deputy CFO, (515) 239-8048, todd.robinson@regi.com, www.regi.com

More Low-Carbon Energy News Renewable Energy Group news,  REGI news,  Biofuel news,  Ethanol news,  


WashREIT Announces $350 Mn of Green Bonds for Eligible Green Bldgs Achieving BREEAM Certification (Ind. Report)
BREEAM
Date: 2021-04-21
In Washington, DC, commercial and residential landlord WashREIT has announced an expansion of its $350 million Green Bond Framework for eligible green projects, including eight multifamily assets acquired in 2019. WashREIT intends to achieve BREEAM In-Use Very Good certifications for the majority of its real estate assets. Green Bond proceeds will be allocated to buildings that achieve BREEAM certification to address energy efficiency, water efficiency, and renewable energy projects.

BREEAM is the world's leading sustainability assessment methodology for master-planning projects, infrastructure and buildings. It recognizes and reflects the value in higher performing assets across the built environment lifecycle, from new construction, through performance in operation, to refurbishment. BREEAM does this through third party certification of the assessment of an asset's environmental, social and economic sustainability performance, according to its website.

WashREIT owns and operates 43 properties includes nearly 7,000 multifamily apartment units and approximately 3.4 million square feet of commercial space in Washington, DC.

The global green bond market expected to exceed $ 1 trillion by the end of 2021. (Source: WashREIT, PR, Apr., 2021) Contact: WashREIT, 202.774.3200, www.washreit.com; BREEAM USA, 415-747-5152, breeamusa@bregroup.com www.breeam.com/usa

More Low-Carbon Energy News Green Building,  BREEAM,  Energy Efficiency,  Green Bond,  


GEVO RNG Project Achieves Financial Closing (Ind. Report)
GEVO
Date: 2021-04-19
Englewood, Colorado-headquartered GEVO, Inc. reports it has closed a $68,155,000 "Green Bond" private activity bonds offering to finance the construction of its dairy cow manure renewable natural gas (RNG) project in Northwest Iowa.

Feedstock for the RNG Project will be supplied by three dairy farms located in Northwest Iowa totaling over 20,000 milking cows. When fully operational, the RNG Project is expected to generate approximately 355,000 MMBtu of RNG per year. Construction of the RNG Project is expected to begin by the end of April 2021 and start up is expected in early 2022. The proceeds of the Green Bond Offering, combined with Gevo equity, will be used to finance the construction of the RNG Project which will incorporate three anaerobic digesters and related equipment. (Source: GEVO, PR, Website 15 Apr., 2021)Contact: GEVO Inc., Patrick Gruber, CEO, 303-858-8358, pgruber@gevo.com, www.gevo.com

More Low-Carbon Energy News GEVO,  RNG,  


Apple's Green Bonds Support Renewable Energy (Ind. Report)
Apple, Green Bond
Date: 2021-03-19
IT giant Apple reports it funded 17 Green Bond renewable energy projects that avoided an average of 921,000 metric tpy of carbon emissions in 2020 as part of its planned $4.7 billion Green Bond spend. The projects will generate 1.2 GW of renewable energy globally, with Apple adding over 350 MW of newly installed renewable energy over the last year in Nevada, Illinois, Virginia, and Denmark.

In February 2016, Apple issued its first $1.5 billion Green Bond, following up with its second round of $1 billion in June 2017 after the Trump administration announcement of its intention to withdraw from the COP21 Paris Climate Agreement . In November 2019, Apple issued its third set of Green Bonds and its first in Europe, with two bonds each at €1 billion ($2.2 billion US).

Apple has invsted roughly $2.8 billion in projects that address carbon emissions. (Source: Apple, PR, Mar., 2021) Contact: Apple, www.apple com

More Low-Carbon Energy News Apple,  Renewable Energy,  Green Bond,  Carbon Emissions,  


CIBC Joins Partnership for Carbon Accounting Financials (Ind. Report)
CIBC
Date: 2021-02-26
Following up on our 16 Dec, 2020 coverage, in Toronto, the Canadian Imperial Bank of Commerce (CIBC) reports it has joined the Partnership for Carbon Accounting Financials (PCAF), an initiative led by the financial industry to develop a harmonized global standard to measure and disclose the greenhouse gas emissions (GHG) of loans and investments. Using jointly developed GHG accounting methodologies will help the bank align its targets with the Paris Climate Agreement, according to the bank release.

In 2019, CIBC committed $150 billion in support of environmental and sustainable finance activities by 2027 and has to date achieved 28 pct of this goal. The bank also issued the climate-related disclosure report Building a Sustainable Future aligned with the Task Force on Climate-Related Financial Disclosures.

In 2020, CIBC issued a $500 million(US), five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change. These include renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control. Also in 2020, CIBC ranked among the top-tier of global banks for climate change action by the Carbon Disclosure Project (CDP).

CIBC, which recently became the first Canadian bank to join RMI's Center for Climate-Aligned Finance, has more than 10 million personal banking, business, public sector and institutional clients and $768.545 billion (Cdn) in total assets. (Source: CIBC, Website News, Feb., 2021) Contact: CIBC, Nima Ranawana, 647-456-4556, nima.ranawana@cibc.com, www.cibc.com; Partnership for Carbon Accounting, www.carbonaccountingfinancials.com

More Low-Carbon Energy News CIBC,  Carbon Emissions ,  Partnership for Carbon Accounting,  


CIBC Ranked Among Top Banks for Climate Change Action (Int'l.)
CIBC, CDP
Date: 2020-12-16
In Toronto, the Canadian Imperial Bank of Commerce (CIBC) reports receipt of a score of A- from the CDP (fka the Carbon Disclosure Project). Improving from a B rating in 2019, this score demonstrates CIBC's progress in environmental performance and reporting. The score also places CIBC among the highest ranking Canadian financial institutions and the top-tier of global banks. As part of CIBC's commitment to support environmental sustainability initiatives, the bank's actions include:
  • In 2020, increased its GHG emissions intensity target for operations to 20 pct over eight years (using 2018 as a baseline).

  • In 2020, issued a USD $500 million, five-year green bond to help finance new and existing green projects, assets, and businesses that mitigate the risks and effects of climate change. These include renewable energy, green buildings, clean transportation, natural resource conservation, biodiversity conservation, energy efficiency, and pollution prevention and control.

  • In 2019, announced a target of mobilizing $150 billion in environmental and sustainable finance activities by 2027.

  • In 2019, issued the climate-related disclosure report Building a Sustainable Future aligned with the Task Force on Climate-Related Financial Disclosures.

  • In 2019, set new targets to source 100 pct of its electricity from renewable sources and become carbon neutral by 2024.

    Toronto-headquartered CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients and $768.545 billion (Cdn) in total assets. (Source: CIBC, PR, 14 Dec., 2020) Contact: CIBC, www.cibc.com/en/about-cibc/corporate-responsibility/environment.html; CDP, Lance Pierce, Pres. North America, (212) 378 2086, info.northamerica@cdp.net, www.cdp.net

    More Low-Carbon Energy News Carbon Disclosure Project,  CIBC,  CDP,  Climate Change,  


  • Green Bonds Support Hungarian Bldg. Energy Efficiency (Int'l.)
    GTC Real Estate Development Hungary
    Date: 2020-12-07
    Globe Trade Centre's Hungarian subsidiary, GTC Real Estate Development Hungary is reporting issuance of 792 senior unsecured 10-year term Green Bonds with a nominal value of approximately €140,000 and a total value of roughly €110 million. The bonds are to be amortised at 10 pct per annum starting from the seventh year.

    Bond proceeds are to be used to finance and refinance acquisitions and the construction or refurbishment of buildings to meet BREEAM , LEED and other recognized efficiency standards.

    GTC manages a real estate portfolio of 45 commercial buildings in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia and has a retail and office development pipeline of around 354,000 sqm, of which 66,000 sqm is currently under construction, according to the release. (Source: GTC Real Estate, PR, Dec., 2020) Contact: GTC Real Estate Development Hungary, +48 22 16 60 700, www.gtc.hu

    More Low-Carbon Energy News Energy Eddiciency,  Green Building,  Green Bond,  


    CenterPoint Raises $250Mn for Energy Efficiency Projects (Ind. Report)
    CenterPoint Properties
    Date: 2020-11-04
    Oak Brook, Illinois-headquartered industrial real estate company CenterPoint Properties is reporting closure of its inaugural $250 million green bond issuance.

    The bond proceeds will be used to finance projects such as green building construction, the development and operational maintenance of green buildings and to acquire new, refurbished, or existing buildings that receive LEED, ENERGY STAR® and other industry-leading certifications. Bond proceeds will also be used to fund energy-efficient projects within the company's current portfolio, including operational enhancement and other sustainable maintenance. (Source: CenterPoint Properties, PR, Mercom, 3 Nov., 2020) Contact: CenterPoint Properties, (630) 586-8000, www. centerpoint.com; LEED,US Green Building Council, Mahesh Ramanujam, Pres., CEO, (202) 552-1500, www.usgbc.org; US DOE, ENERGY STAR, www.energystar.gov

    More Low-Carbon Energy News CenterPoint Properties,  LEED,  ENERGY STAR,  Energy Efficiency ,  


    Green Bond Sales on the Rise (Int'l. Ind. Report)
    Green Bond, FE Analytics
    Date: 2020-10-05
    According to recently published data from London-based FE Analytics, in the last 3 years socially responsible "green" investments have generated about 7 pct greater returns as compared to benchmark indices and about 11 pct more returns than non-socially responsible investments.

    Green bonds, which raise money for climate and environment projects, were slow to get off the ground when they were first launched in 2007. However, in the last few years, green bonds in various forms attracted about $258 billion of investments in 2019 for a 51 pct increase on a year on year basis.

    As per Morgan Stanley Capital Index, about 70 pct of the green bonds issuance are in alternative energy (38 pct), green buildings (17 pct) and sustainable transport (15 pct). (Source: FE Analytics, Policy Times, Oct., 2020)Contact: FE +44 20 7534 7600, www.feanalytics.com

    More Low-Carbon Energy News FE Analytics,  Green Bonds,  


    China Plan Bans Clean Coal from Green Bond Financing (Int'l. Report)
    Peoples Bank of China,Climate Bonds Initiative
    Date: 2020-09-11
    According to China's central bank, the People's Bank of China, a proposal to stop recognizing clean coal as projects qualified for green bonds could attract more interest from foreign investors, as the policy change brings domestic standards closer to the more stringent international definition of green projects. Clean coal projects have always been excluded in green bonds that are certified by international standards.

    In Q1 this year, China's issuance of green bonds that only met domestic definitions totaled US$7.97 billion, well above $4.37 billion for the globally aligned bonds, according to the Climate Bonds Initiative (CBI). For the second quarter through June alone, green bonds issued on the Chinese standards more than doubled to $5.92 billion from the previous quarter, while the globally aligned green bonds also nearly doubled to $2.82 billion, CBI added.

    In 2019, locally aligned green debt in China totaled US$24.5 billion, less than $31.3 billion for the bonds aligned with the global standards, according to the CBI.

    On the definition of projects, the international guidelines pay more attention to climate change mitigation and adaptation, while China's domestic rules emphasize environmental benefits such as pollution reduction, resource conservation and ecological protection in addition to the reduction of greenhouse gas emissions, according to a 2019 CBI report. (Source: CBI, People's Bank of China, Hellenic Shipping News, Sept., 2020) Contact: People's Bank of China, www.pbc.gov.cn; Climate Bonds Initiative, www.climatebonds.net

    More Low-Carbon Energy News Climate Bonds Initiative,  Clean Coal,  Carbon Emissions,  Green Bond,  


    Bank of Ireland Launches "Green" Bond Framework (Int'l. Report)
    Bank of Ireland
    Date: 2020-09-04
    In Dublin, the Bank of Ireland reports the launch of a framework that will enable the Bank to issue "Green" Bonds and finance additional renewable energy, green buildings, and clean transportation. This follows the 2019 launch of the Bank's Sustainable Finance Fund which has to date provided €600 million in green loans to home owners and businesses.

    Bank of Ireland's Responsible and Sustainable Business Initiatives include:

  • 50 pct carbon intensity reduction target for 2030 (on a 2011 baseline), within the Bank's operations and the 40 pct emissions reduction the Bank achieved since 2011.

  • €2 billion Sustainable Finance Fund encouraging and rewarding energy-efficient homes, investment in older properties to improve sustainability performance, and SME and agri investment in energy efficiency

  • The launch of Ireland's first Green Mortgage interest rate under which borrowers can receive a discount off fixed rate interest options -- from 1 to 10 years -- to finance the purchase, construction or renovation of residential buildings with an A-rated or to achieve an A-rated BER energy performance

  • Green Home Improvement Loan designed to fund energy efficient upgrades, borrowers offered loan a discounted rate for amounts from €2,000 to €65,000

  • Green Business Loan for businesses seeking to implement energy saving initiatives to reduce their energy costs and their carbon footprint

  • Providing finance to Renewable Energy projects which to date has provided the equivalent of 468,000 homes with renewable generated electricity

    In its effort to address climate change and climate change related risks, the Bank of Ireland became a signatory to the UN Principles for Responsible Banking in 2019 and a supporter of the Task Force on Climate-related Finance Disclosures (TCFD) in 2020. (Source: Bank of Ireland, PR, Finextra, 3 Sept., 2020) Contact: Bank of Ireland: Mark Spain, CSO, www.bankofireland.com

    More Low-Carbon Energy News Green Bond,  Renewable Energy,  Climate Change,  Energy Efficiency,  


  • First German "Green" Bond Attracts Strong Demand (Int'l. Report)
    German Finance Ministry
    Date: 2020-09-02
    Today in Frankfurt am Main, Germany's first 10-year "green" bond offering reportedly drew bids for €30 billion ($35.480 billion US) -- five times the issue volume, according to Stuttgart-based German public bank LBBW.

    In August, the German Finance Ministry announced it would raise as much as €11 billion this year 2020 to support climate-related projects. A further bond issue is expected to be offered before the end of the year. (Source: German Finance Ministry, Space Daily, AFP, 2 Sept., 2020) Contact: LBBW, Elmar Voelker, +49 711 127-0, kontakt@lbbw.de, www.lbbw.de; German Finance Ministry, www.bundesfinanzministerium.de

    More Low-Carbon Energy News Green Bond news,  Climate Change news,  


    Visa Inc Announces $500Mn Green Bond Issuance (Ind. Report)
    Visa
    Date: 2020-08-12
    San Francisco-based global payments technology company Visa Inc. is reporting its inaugural green bond offering totaling $500 million, paying a semi-annual coupon of 0.75 pct and maturing August 15, 2027.

    According to the Visa Green Bond Framework, the bond proceeds will be used to fund: upgrades to buildings, energy efficiency improvements, expanded usage of renewable energy sources, water efficiency projects, employee commuter programs, research and initiatives focused on sustainable consumer behaviors, and other related projects. The proceeds also will support projects to inspire and foster sustainable living in support of the United Nations Sustainable Development Goals.

    These projects build on Visa's sustainability leadership, including its transition to 100 pct renewable electricity across its operations achieved at the start of 2020. (Source: Visa Inc., PR,Business Wire, 11 Aug., 2020) Contact: Visa Inc., Lindy Mockovak , lindy.mockovak@visa.com, usa.visa.com/about-visa.html

    More Low-Carbon Energy News VISA,  Green Bond,  Renewable Energy,  Energy Eficiency,  


    UK Energy Efficiency Job Growth Projected (Int'l. Report)
    UK Energy Efficiency,UK Green Building Council
    Date: 2020-07-06
    According to the UK Green Building Council (UKGBC), to meet its goal of net-zero climate-changing emissions by 2050, Britain needs to upgrade the energy efficiency and lower fossil fuel consumption in 29 million homes -- almost two homes per minute -- something it is so far nowhere near prepared to do.

    Previous government-backed green programmes to spur homeowner investment in insulation and other energy-efficiency measures were "shoddily carried out or drew little interest and failed to produce clear energy savings," and have been mostly discontinued, according to a government audit. Now, to revive interest in such efforts and train more people to do the work "we have to do for retrofit what we did about 15 years ago for recycling and waste." About 430,000 new workers are needed to deliver "anything like the level of retrofits that will be required", according to Paul Toyne of the London Sustainable Development Commission.

    The UK Green Building Council (UKGBC) notes the government is looking at whether a home energy-efficiency push should be part of the package of COVID-19 pandemic recovery spending. Energy efficiency retrofitting work could be pushed forward by measures such as lower property transfer taxes on energy efficient homes and issuing green bonds to fund retraining in retrofitting skills for workers left jobless by the COVID-19 crisis, according to Green Finance Institute director Emma Harvey. (Source: London Sustainable Development Commission, Business Times, Reuters, 4 July, 2020) Contact: London Sustainable Development Commission, www.london.gov.uk/about-us/organisations-we-work/london-sustainable-development-commission; UK Green Building Council, John Alker, Policy Director, www.ukgbc.org

    More Low-Carbon Energy News Energy Efficiency,  UK Green Building Council ,  


    UAE Biodiesel Producer Neutral Fuels Touts Expansion (Int'l. Report)
    Neutral Fuels
    Date: 2020-04-29
    Following up on our 27 May, 2017 coverage, Dubai-based biodiesel producer Neutral Fuels reports it is the first company in the world to commercialize an "enzymatic biodiesel" using a strain of enzyme derived from the fungus that grows on a soy bean to allow it to process poor quality used cooking oil into good biodiesel.

    The company is now reporting the upcoming opening of 4,700 t/yr B100 certified to Europe's EN14214 biodiesel standard production plant in South Africa. In 2019 the company expanded into India's Delhi and Bahrain in 2019 with B100 plants of 4,700 t/yr and 2,400 t/yr respectively. Funds raised from green bonds listed on Germany's Frankfurt stock exchange in 2019 are partly financing the company's growth.

    Neutral Fuels notes it has no plan to export to international markets but rather aims to enhance waste-based biodiesel consumption in the regions where it is located by replicating the localized supply chain model used in its Dubai operations. (Source: Neutral Fuels, Argus, 28 April, 2020) Contact: Neutral Fuels, Karl Feilder, CEO, kwf@theneutralgroup.com, www.tng.ae, www.biodiesel.ae

    More Low-Carbon Energy News Neutral Fuels,  Biodiesel ,  


    Netherlands Airport Operator Launch €750Mn Green Bond (Int'l)
    Royal Schiphol Group
    Date: 2020-04-15
    In the Netherlands, Royal Schiphol Group, the owner and operator of Amsterdam Airport Schiphol, The Hague Airport and Lelystad Airport, is reporting the 2nd April launch of a €50 million green bond under its European medium term note programme. This green bond offering will support Royal Schiphol Group's investments, as defined in its Green Finance Framework, in green buildings and clean transportation at its various airport operations.

    The bonds will be listed on Euronext Amster Operated by the Schiphol Group. (Source: Royal Schiphol Group, CAPA, April 10, 2020) Contact: Royal Schiphol Group, www.schiphol.nl/en/schiphol-group

    More Low-Carbon Energy News Green Bond,  


    IFC Supports South African Green Bond Issuance (Int'l, Funding)
    IFC,Standard Bank of South Africa
    Date: 2020-03-04
    IFC, a member of the World Bank Group and one of the world's largest green bond issuer, reports it has invested $200 million in the Johannesburg-based Standard Bank of South Africa Limited's green bond placed on the London Stock Exchange.

    The 10-year green bond -- Africa's largest and South Africa's first offshore green bond issuance -- is compliant with the International Green Bond Principles and will enable Standard Bank Group's Sustainable Finance Business Unit to on-lend to and finance climate-smart projects in South Africa such as renewable energy, energy efficiency, water efficiency and green buildings. (Source: IFC, 2 Mar., 2020) Contact: IFC, www.ifc.org; Standard Bank of South Africa, Nigel Beck, Sustainable Finance, www.standardbank.co.za

    More Low-Carbon Energy News IFC,  Green Bond,  Climate Change,  


    Indian 2019 Green Bonds Markets Hits $10.3Bn (Int'l. Report)
    Green Bond
    Date: 2020-02-17
    According to the India Brand Equity Foundation's (IBEF) India Economic Survey 2019-20, India has become the second-largest market globally for "green" bonds with $10.3 billion worth of transactions in the first half of 2019. China is the market leader.

    The survey also notes that Social Bonds also maintained visibility with $5.5 billion of issuance within the labeled market. Climate bonds remained focused on green bonds, which are specifically linked to climate-change mitigation, adaptation and resilience.

    "Green" bonds are debt securities issued by financial, non-financial or public entities where the proceeds are used to finance 100 pct green projects and assets.

    In an effort to increase environmentally sustainable investments, India joined the International Platform on Sustainable Finance (IPSF) in October 2019. IPSF acknowledges the global nature of financial markets which can help finance the transition to a green, low carbon and climate resilient economy by linking financing needs to the global sources of funding. (Source: IBEF, Energy Infra Post, 16 Feb., 2020) Contact: IBEF Economic Survey, www.ibef.org/economy/economic-survey-2019-20, www.ibef.org

    More Low-Carbon Energy News Green Bond,  Climate Bond,  


    UK National Grid Offers €500Mn Green Bond (Int'l. Report)
    National Grid
    Date: 2020-01-15
    In the UK, National Grid reports it is launching a €500 million green bond issuance to finance its expanded efforts in renewable energy, energy efficiency, sustainable energy management and climate related initiatives. The offer is the British utility firm's first foray into the green bonds market since publishing its Green Financing Framework in November last year.

    Of the total €500 million issuance, 74 pct would be used for renewable energy, 13 pct for environmentally sustainable management, 11 pct for energy efficiency, and 2 pct for clean transportation and pollution prevention.

    BNP Paribas is acting as the sole green structuring advisor and joint book runner. (Source: National Grid, Business Green, 14 Jan., 2019) Contact: UK National Grid, Kayte O'Neill, Head of Strategy and Regulation, www2.nationalgrid.com/uk

    More Low-Carbon Energy News National Grid ,  Green Bond,  


    Credit Agricole CIB Offering Green Securities (Int'l Report)
    Credit Agricole,Daiwa Securities
    Date: 2019-12-30
    Credit Agricole Corporate and Investment Bank (Credit Agricole CIB) and Daiwa Securities Group have jointly announced the issuance and sales of Green Securities. This is the first time that Credit Agricole CIB will issue index-linked structured uridashi as green bonds denominated in Japanese yens and distributed by Daiwa Securities Co Ltd to Japanese individuals and institutional investors.

    An amount equal or equivalent to the net proceeds of the Green Securities will be used to finance and/or refinance one or more of the new or existing loans and investments including renewable energy -- wind and solar projects, bioenergy, energy efficiency, waste and water management, building sustainability, clean transportation and other "green" projects.

    Credit Agricole Group, sometimes called "la banque verte" due to its historical ties to farming, is the world's largest cooperative financial institution. It consists of a network of Credit Agricole local banks, the 39 Credit Agricole regional banks, and a central institute, the Credit Agricole S.A.. Credit Agricole supports environmentally engaged companies and projects which implement best practices in terms of energy transition and climate change strategies in line with the COP25 Paris Agreement. (Source: Daiwa Securities, Credit Agricole, PR, 23 Dec 2019) Contact: Daiwa Securities , www.daiwa-grp.jp › english; Credit Agricole, www.credit-agricole.fr

    More Low-Carbon Energy News Credit Agricole,  Green Bond,  Green Securities,  Daiwa Securities ,  


    AIIB Announces Planned Green Investment Fund Launch (Int'l.)
    Asian Infrastructure Investment Bank
    Date: 2019-11-25
    In Beijing, the Asian Infrastructure Investment Bank (AIIB) reports its is months away from launching an investment framework aimed at mobilizing capital for climate-friendly infrastructure projects.

    The bank has set aside $500 (US) million for the project, which it will invest in green bonds issued by infrastructure companies. The core criteria of the fund is to finance projects that help the nation in which they are based meet their commitments under the UN Paris Climate Agreement 2015.

    To date, AIIB has raised roughly $20 billion in paid-in equity from its 75 member nations and a total of almost $100 billion of subscribed equity, of which only $10 billion has been invested, according to the release. (Source: Asian Infrastructure Investment Bank, Financial Review. James Fernyhough, 24 Nov., 2019) Contact: Asian Infrastructure Investment Bank, www.aiib.org

    More Low-Carbon Energy News Asian Infrastructure Investment Bank ,  


    Singapore Launching $2Bn Green Finance Hub Programme (Int'l.)
    Monetary Authority of Singapore
    Date: 2019-11-13
    In Singapore, the Monetary Authority of Singapore reports it plans to create a $2 billion Green Investments finance programme intended to establish the country as a global green financing hub.

    The Green Investment Programme will direct funds to asset managers who will in turn invest the funds in public market firms focused on introducing environmental and sustainability considerations into investments in renewable and bioenergy technology, grid infrastructure, battery storage, green buildings, energy efficiency and optimizing energy conservation and consumption. (Source: Monetary Authority of Singapore, International Finance, 12 Nov., 2019) Contact: Monetary Authority of Singapore, +65 6225 5577, +65 6229-9229 -- fax, (212) 809 1900 -- US Office, www.mas.gov.sg

    More Low-Carbon Energy News Green Finance,  Green Bond,  Renewable Energy,  Energy Efficiency,  Climate Change,  


    Amundi, AIIB Partnering on Cimate Bond EM Fund (Ind. Report)
    Amundi
    Date: 2019-09-11
    Paris-based Amundi Asset Management reports it is partnering with the Asian Infrastructure Investment Bank (AIIB) to launch a $500 million Asia Climate Bond Portfolio to launch in January, 2020.

    The strategy aims to accelerate climate action in the bank's members and address the underdevelopment of the climate bond market. The fund will invest in labelled green bonds and unlabelled climate bonds and will engage with issuing companies to help them transition their business models to increase climate resilience and green leadership.

    Amundi is an asset management company with €1,425 billion of assets under management at the end of 2018, and is is the largest asset manager in Europe. (Source: Amundi, City Wire, 10 Sept., 2019)Contact: Amundi International, www.amundi.com; Asian Infrastructure Investment Bank, www.aiib.org

    More Low-Carbon Energy News Green Bond,  Climate Bond,  Carbon Emissions,  Climate Change,  


    IFC's 1st Canadian Green Bond Raises $750Mn (Ind. Report)
    International Finance Corporation
    Date: 2019-09-09
    The World Bank's International Finance Corporation (IFC) is reporting issuance of its first Canadian dollar green bond raised $750 million (Cdn) ($569 million US) for climate-smart business.

    The proceeds of the five-year green bond will finance IFC low-carbon investments in green projects, including renewable energy, green buildings, sustainable forestry, and energy efficiency. Approximately half of the investments were from Canadian interests Canadian, followed by Asian (26 pct), EMEA (16 pct) and the Americas (8 pct). IFC issued it firs Green Bond its first issuance in 2010. (Source: IFC, Saur Energy, 7 Sept., 2019) Contact: World Bank International Finance Corporation, www.ifc.org

    More Low-Carbon Energy News International Finance Corporation,  Green Bond,  Low-Carbon Energy,  


    Aussie Green Bond Issuance Tops $15 billion (Int'l. Report)
    Climate Bonds Initiative.
    Date: 2019-09-04
    The Climate Bonds Initiative, an international, investor-focused not-for-profit organisation working solely on mobilizing the $100 trillion bond market for climate change solutions, reports the release of its Green Infrastructure Investment Opportunities Australia 2019 (GIIO) report, as well as the Green Finance State of the Market Australia (SoTM) 2019 report. The report notes Australia issued $15.6 billion in green bonds as of the end of June, placing Australia third in the Asia-Pacific region behind China (US$91.5 billion) and Japan (US$12.4 billion) and ahead of South Korea at (US$6.7 billion) and Indonesia with US$4 billion.

    Australia is tenth overall in cumulative global green bond rankings as of 30 June 2019. Total domestic issuance to date includes 35 deals -- some comprising multiple tranches -- from 15 issuers. Australia’s annual green bond issuance in the 2018 calendar year nearly doubled, from $3.3 billion in 2017 to $6 billion. (Source: Climate Bonds Initiative, Sustainability Report, Pro Bono News, 3 Sept., 2019) Contact: Climate Bonds Initiative, Sean Kidney, CEO, www.climatebonds.net

    More Low-Carbon Energy News Green Bonds,  Low Carbon,  


    IFC, Bank Windhoek Introduce Green Building Software (Int'l.)
    International Finance Corporation
    Date: 2019-08-21
    In Namibia, Bank Windhoek and the World Bank's International Finance Corporation (IFC) are reporting the joint introduction free to use Excellence in Design for Greater Efficiencies (EDGE) green building certification system for emerging markets.

    Developed and created by the IFC, EDGE is a measurable way for builders to optimize their designs, leading to a more investment-worthy and marketable product. EDGE helps project design teams and owners identify and assess the most cost-effective ways to incorporate energy and water saving options into nuilding projects.

    In December 2018, Bank Winhoek and IFC collaborated to develop the Bank's Green Bond Framework for the Green Bond. The Bank obtained additional sources of funding for its green lending activities by raising funds in the debt market through a local Green Bond issuance, of which the proceeds will be used solely to finance eligible green projects and assets throughout Namibia. (Source: IFC, Bank Windhoek, New Era, 20 Aug., 2019) Contact: Bank Windhoek, www.bankwindhoek.com.na; World Bank International Finance Corporation, www.ifc.org

    More Low-Carbon Energy News International Finance Corporation ,  


    EIB Loans to Fund 21 Spanish Wind Farms (Int'l., Funding)
    European Investment Bank
    Date: 2019-08-09
    The European Investment Bank (EIB) reports it will provide €385 million in loan funding for Alfanar Group's construction of 21 wind farms totaling 547 MW in Andalusia, Asturias, Castilla-La Mancha, Castilla Leon, Galicia and Navarra in Spain.

    The EIB, the world's first and largest issuer of green bonds, is the long-term lending institution of the European Union owned by its 28 Member States. The EIB aims to dedicate at least 25 pct of its investments to climate change mitigation and adaptation, supporting low-carbon growth with climate resilience. In 2018, and for the ninth consecutive year, the EIB exceeded its climate finance target, providing €16.2 billion to promote climate action. (Source: European Commission, PR, 8 Aug., 2019) Contact: European Commission, www.eceuropa.eu

    More Low-Carbon Energy News European Investment Bank ,  Wind,  


    Costa Rica Borrows $35Mn for Green Energy Projects (Funding)
    World Bank Group International Finance Corporation
    Date: 2019-07-24
    The World Bank Group International Finance Corporation (IFC) is reporting a S$ 35 million loan to support and incentivise the issuance of a green bond by Davivienda Costa Rica, the third largest private bank in Costa Rica. The loan will contribute to the funding sustainable buildings, energy efficiency and small-scale renewable energy generation and bioenergy projects under the "green lending standards" as set out by the Zurich-headquartered International Capital Markets Association. (Source: World Bank Group International Finance Corporation, July, 2019) Contact: World Bank Group, www.worldbank.org; World Bank Group International Finance Corporation, www.ifc.org; International Capital Markets Association, www.icmagroup.org

    More Low-Carbon Energy News World Bank,  Green Energy,  


    Hong Kong "Green Bond" Looking to Raise $1Bn (Int'l Report)
    Hong Kong
    Date: 2019-05-22
    Reuters is reporting the former British colony of Hong Kong is looking to raise $500 million to $1 billion through a five-year "green bond" issuance that will help establish Hong Kong as a "green finance" center for investment in "environmentally friendly" projects.

    The bond is the first to be issued under Hong Kong's HK$100 billion ($12.74 billion) green bond program to fund projects around clean transportation, air quality improvement and green buildings.

    "Green bond" issuance worldwide to date this year stands at $41.3 billion, $12 billion of which was raised in Asia. (Source: Reuters, Various Media, May, 2019)

    More Low-Carbon Energy News Green Bond,  


    New Energy Risk Backs $260Mn Plastics-to-Fuel Plant (Ind. Report)
    RES Polyflow,Brightmark Energy,
    Date: 2019-04-29
    Menlo Park, California-headquartered New Energy Risk, the leader in customized insurance solutions for renewable technology projects, reports it has provided RES Polyflow, a leading plastics-to-fuel technology company, with a performance insurance program for its ground-breaking Ashley, Indiana plant -- the country's first commercial-scale plastics-to-fuel project.

    When fully operational, the facility will convert 100,000 tpy of plastic into 18 million gpy of fuel and 6 million gpy of wax. By working with New Energy Risk (NER), RES Polyflow has reduced the overall cost of project capital, increased the certainty of execution, and made the bond offering more attractive to investors.

    RES Polyflow and its San Francisco-based parent development company, Brightmark Energy, raised an aggregate amount of $260 million, including $185 million in Indiana green bonds, underwritten by Goldman Sachs & Co. To streamline the financing, the companies approached NER, an affiliate of the global reinsurance group AXA XL, a division of AXA, to design a custom performance insurance policy that would mitigate technology risk for financiers interested in investing in this revolutionary project and the company's process that can convert 500,000 tpy of waste into 50 million gpy of biofuel .

    The Indiana plant superheats and then converts plastic into ultra-low sulfur diesel and naphtha blend stocks, as well as commercial grade wax. (Source: AXA XL, PR, 23 April, 2019) Contact: AXA AL, www.axaxl.com; New Energy Risk, (650) 204-4279, contact@newenergyrisk.com, www.newenergyrisk.com; Brightmark Energy, Bob Powell, CEO, (415) 689-8395, info@brightmarkenergy.com, www.brightmarkenergy.com; RES Polyflow, www,respolyflow.com

    More Low-Carbon Energy News Brightmark Energy,  RES Polyflow,  Plastic-to-Fuel,  


    Communications Giant Aims for 2035 Carbon Neutrality (Ind. Report)
    Verizon
    Date: 2019-04-26
    NYC-headquartered telecommunications giant Verizon Communications Inc. is touting it plan to achieve carbon neutrality by 2035 through a program of direct emissions reduction, the purchase of renewable energy, carbon offsets and other measures. For 2025, Verizon aims for a 50 pct carbon intensity reduction.

    The company aims to neutralise its Scope 1 and Scope 2 emissions -- all direct sources of emissions owned or controlled by Verizon, the main ones being fuel to power fleet, heat buildings and power back-up generators. Scope 2 concerns indirect emissions sources generated off-site but purchased by Verizon.

    As previously reported, in February, Verizon launched a $1-billion green bond to fund both new and existing environmentally friendly investments. (Source: Verizon, Renewables, 24 April, 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.linkedin.com/in/james-gowen-6b4619143, www.verizon.com

    More Low-Carbon Energy News Verizon,  Carbon Emissions,  Carbon Neutral,  


    Royal Bank of Canada Floats First "Green" Bond (Ind. Report)
    Royal Bank of Canada
    Date: 2019-04-26
    In Toronto, the Royal Bank of Canada (RBC) reports the launch of a 5-year "green" bond offering to raise €500 million ($557 million US) to back a portfolio of renewable energy and green building projects. Clean transportation, sustainable water and wastewater management, energy efficiency, pollution prevention and control projects may also be added to the list of possible projects.

    RBC is Canada's second-largest bank with $1074.28 billion in assets. (Source: RBC, Renewables, 25 April, 2019)

    More Low-Carbon Energy News Royal Bank of Canada,  Renewable Energy,  Green Bond,  


    $1Bn Green Bond to Fund Verizon Energy Efficiency (Ind. Report)
    Verizon
    Date: 2019-02-13
    NYC-headquartered telecommunications giant Verizon Communications Inc. is reporting the issuance of $1 billion in green bonds , the proceeds of which will fund various sustainability initiatives including green buildings, energy efficiency, and other initiatives over a ten year period.

    Verizon recently implemented several strategies to increase energy efficiency in its larger wireless core data centers, including uninterruptible power supplies, high-efficiency motors, and whole-building control systems. The move is in keeping with the company's goal of sourcing 50 pct -- about 2,000 MW -- of its electric power usage from renewable generation by 2025. (Source: Verizon, Fierce Telecom, 11 Feb., 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.linkedin.com/in/james-gowen-6b4619143, www.verizon.com

    More Low-Carbon Energy News Verizon,  Green Bond,  Energy Efficiency,  


    Green Bond Raises $410Mn for Asian Low Carbon Projects (Int'l)
    AC Energy,Ayala
    Date: 2019-02-11
    In the Philippines, AC Energy, the energy platform of one of the largest conglomerates located in the Philippines, Ayala Corporation, reports it raised $410 million (US) in its first Climate Bond Initiative listed on the Singapore Exchange. The International Finance Corporation (IFC), a member of the World Bank Group, provided an anchor investment of $75 million to complete the public placement of the bonds. AC Energy added a private placement of $110 million in climate bonds for 10 years and the Asian Development Bank (ADB) invested $20 million in the transaction, which is paying a coupon of 5.25 pct.

    Proceeds from the bond offering are earmarked for AC Energy's low-carbon energy projects in the Asia-Pacific region. The bonds received pre-issuance certification as climate bonds under the Climate Bonds Standard (CBS). (Source: AC Energy, Asset ESG Forum, 10 Feb., 2019) Contact: AC Energy , Eric Francia, Pres., CEO, www.acenergy.com.ph; Ayala, www.ayala.com.ph/ac-energy

    More Low-Carbon Energy News Ayala,  AC Energy,  Climate Change,  Green Bond,  Renewable Energy,  


    $1Bn Green Bond to Fund Verizon Energy Efficiency, Green Building Initiatives (Ind. Report)
    Verizon
    Date: 2019-02-11
    Verizon is reporting the issuance of $1 billion in green bonds, the proceeds from which will fund various sustainability initiatives including renewable energy, green buildings, energy efficiency, and other initiatives over a ten year period.

    Additionally, the company recently implemented strategies to increase energy efficiency in its larger wireless core data centers, including uninterruptible power supplies, high-efficiency motors, and whole-building control systems. The move is in keeping with the company's recently announced goal sourcing 50 pct -- about 2,000 MW -- of its electric power consumption from renewable generation by 2025. (Source: Verizon, Fierce Telecom, 11 Feb., 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.verizon.com/about/our-company/verizon-corporate-headquarters

    More Low-Carbon Energy News Green Bond,  Energy Efficiency,  Verizon,  Green Building,  


    Citigroup Green Bond to Support Renewables Projects (Ind. Report)
    Citigroup
    Date: 2019-01-30
    US banking giant Citigroup Inc is touting its initial €1 billion ($1.14 billion) "green" bond offering aimed at financing renewable energy and other environmental projects including energy efficiency, green buildings, sustainable transportation, water quality and conservation.

    The projects will be supported as part of Citi's 2015, $100-billion (€87.6 billion) environmental finance goal which aims to lend and facilitate $100 billion over 10 years towards environmental activities leading to a low-carbon economy.

    Citigroup owns or leases over 57 million square feet of real estate in over 7,900 properties including its new NYC global headquarters currently under construction to LEED Platinum energy efficiency certification standards. (Source: Citigroup, Renewables, 29 Jan., 2019) Contact: Citigroup Inc., www.citigroup.com

    More Low-Carbon Energy News Citigroup,  Energy Efficiency,  Renewable Energy,  Green Bond,  


    Manila's Rizal Bank Announces "Green" Finance Framework (Int'l)
    Rizal Commercial Banking Corp
    Date: 2019-01-16
    The Manila-based Rizal Commercial Banking Corp, the Philippine's tenth largest bank by assets, reports it has established a finance framework for "green" bonds and loans focus on renewable energy, green buildings, clean transport, pollution prevention and energy efficiency.

    www.rcbc.com

    More Low-Carbon Energy News Green Bond,  Energy Efficiency,  Renewable Energy,  


    Tata Green Bond Raises $25.9Mn for Renewables Projects (Int'l)
    Tata Cleantech
    Date: 2019-01-09
    India's Tata Cleantech Capital Ltd, a Tata Capital and the International Finance Corp (IFC JV), reports its first Green Bond offering has raised $25.9 million (€22.7 million). The funds from the five-year securities were raised from FMO, and the Netherlands Development Finance Company, Tata Cleantech will go for eligible green energy projects, renewables in particular, that contribute to the environmental sustainability.

    Tata Cleantech operates on the clean technology market by extending financing and providing advisory services for renewable energy, energy efficiency and water management projects and has participated in the funding of over 5.2 GW of renewables projects, according to the company website. (Source: Tata Cleantech Capital, Renewables, 7 Jan., 2019) Contact: Tata CLeantech Capital, www.tatacleantechcapital.in

    More Low-Carbon Energy News Tata Cleantech,  Green Bond,  Renewable Energy ,  


    WBCSD Launches New Energy Solutions Project (Int'l Report)
    World Business Council for Sustainable Development
    Date: 2018-12-17
    The Swiss-headquartered World Business Council for Sustainable Development (WBCSD) is reporting the December 10th launch of its newest project, New Energy Solutions.

    By facilitating cross-sectoral collaboration, the project aims to scale up pre-commercial and/or proven low-carbon technologies that are being deployed too slowly across the transportation and other energy sectors.

    The New Energy Solutions project aims to help commercial and industrial companies from all sectors make headway with proven technologies and low-carbon fuels, the uptake of green bonds for renewable fuels and projects, corporate renewable power purchase agreements, and low-carbon microgrids for commercial and industrial customers.

    Together, project members are identifying and implementing technologies, fuels and solutions that help companies transition to low-carbon energy sources in line with the Paris Agreement. (Source: World Business Council for Sustainable Development, Climate Home, 10 Dec., 2018) Contact: WBCSD, Maria Mendiluce, Managing Director, www.wbcsd.org

    More Low-Carbon Energy News World Business Council for Sustainable Development,  


    Duke Carolinas Completes $1Bn Green Bond Issuance (Ind. Report)
    Duke Energy Carolinas
    Date: 2018-11-12
    Charlotte-headquartered Duke Energy Carolinas is reporting completion of an historic $1 billion Green Bond issuance to finance renewable projects in North and South Carolina. Duke's green bonds have a weighted average coupon of 3.74 pct with between three and 10-year maturities, according to the Duke release.

    Duke is retiring its coal-fired plants, increasing nuclear generation capacity, and has added close to 650 MW of built or purchased solar energy and plans to add another 1,800 MW of new-build and purchased solar capacity over the next five years. (Source: Duke Carolinas, Electric Light & Power, Charlotte Business Journal, 9 Nov., 2018) Contact: Duke Energy, David Fountain, North Carolina Pres., Chris Fallon, VP Renewables, Steve Young, Exec. VP CFO, www.duke-energy.com

    More Low-Carbon Energy News Duke Energy Carolinas,  Renewable Energy,  Energy Storage,  


    IFC Komodo Green Bond Raises $134Mn for Climate Investments (Int'l)
    International Finance Corporation
    Date: 2018-10-10
    International Finance Corporation (IFC), a member of the World Bank Group, reports issuance of its inaugural Indonesian rupiah Komodo Green Bond which raised Rp 2 trillion (US$134 million) to support climate friendly Indonesian projects to combat climate change.

    The five-year green bond, which will be listed on both the London Stock Exchange and the Singapore Stock Exchange, will support the local-currency market in Indonesia, funding the first-ever green bond issued in Indonesia by an IFC client, Bank OCBC NISP. The proceeds will finance underlying infrastructure and climate-related projects.

    According to the IFC's just released Green Bond Impact Report, IFC issued 32 green bonds totaling $1.8 billion in the fiscal year that ended June 30. (Source: Jakarta Post, IFC, 8 Oct., 2018) Contact: IFC, Nena Stoiljkovic, VP Asia and the Pacific, (202) 473-1000, www.ifc.org

    More Low-Carbon Energy News International Finance Corporation,  Climate Change,  Green Bond,  


    ADB Green Bonds to Fund Climate Change Mitigation Projects (Int'l)
    Asian Development Bank
    Date: 2018-09-24
    Further to our May 4th coverage, the Manila-headquartered Asian Development Bank (ADB) reports it has raised another $750 million in 10-year green bonds to help finance climate change mitigation and adaptation projects.

    Forty-six pct of the issue was distributed in Europe, Middle East and Africa and 28 pct in the Americas and 26 pct in Asia. Thirty-one pct of the issuance was purchased by banks, 25 pct by insurance companies and pension funds, 24 pct by central banks and official institutions, and 20 pct by fund managers.

    ADB issued its first US dollar-denominated green bond in 2015. ADB's financing of climate mitigation and adaptation reached a record $4.5 billion in 2017 and the institution is now in position to achieve its US$6 billion annual climate financing target by 2020. Of the total $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport and building smart cities, while $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture and better preparation for climate-related disasters. ADB plans to raise around $23 billion from the capital markets in 2018. (Source: ADB, The Asset ESGForum, 23 Sept., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org

    More Low-Carbon Energy News Climate Change Mitigation,  Green Bonds,  Asian Development Bank,  


    Ireland Launching Inaugural Green Bond Issue (Int'l Report)
    Ireland National Treasury Management Agency
    Date: 2018-09-14
    In Dublin, Ireland's National Treasury Management Agency reports it will launch its first green bond issuance in the coming months, and to that end is meeting with potential investors. The bond will be issued under the recently approved Irish Sovereign Green Bond framework.

    Funds from the placement will be applied to green projects addressing climate change mitigation and adaptation, water and natural resources depletion and the reduction of air pollution. (Source: Ireland National Treasury Management Agency, Renewables, Sept., 2018) Contact: Ireland National Treasury Management Agency, Frank O'connor, Director of Funding and Debt Management, +353 1 238 4000, info@ntma.ie, www.ntma.ie

    More Low-Carbon Energy News Green Bond,  


    Cal. Pledges "Green" Financing in Climate Change Fight (Ind. Report)
    Green Bond, Climate Change
    Date: 2018-08-10
    In Sacramento, California Treasurer John Chiang reports his office has signed on to the Green Bond Pledge committing the Golden State to fight climate change through a strategy using green financing. The Green Bond Pledge is a declaration with broad and far-reaching impact, under which states and cities nationwide are being urged to commit to a strategy that will finance infrastructure and capital projects that meet the challenges of climate change with "green bonds," or green financing.

    Green Bond pledge adherents agree that climate change poses an existential threat and that the rapid growth of a green bonds market will not only meet the unique challenges the world faces, but will do so while making communities more economically competitive, prosperous, and productive.

    Green bonds may be sold by governments, as well as by private entities, to finance projects that have positive environmental or climate attributes. The projects can range from clean transportation to renewable energy.

    The green bond market started in 2007 with bonds issued by the World Bank and the European Investment Bank. By 2017, both California and New York had issued more than $4 billion in bonds to finance such things as clean water projects, green schools, mass transit, land preservation, and green housing. The state is now looking to build on that start and help grow a much more robust market for green bond financing.

    Download a copy of the Green Bonds Pledge and other details HERE. (Source: California Treasurers Office, Lake County News, Aug., 2018) Contact: California Treasurers Office, (916) 653-2995, www.treasurer.ca.gov

    More Low-Carbon Energy News Green Bond,  Climate Change,  

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