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Green Bonds Market Tops $20 Billion, Expands to New Issuers, Currencies & Structures

Heike Reichelt's picture

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Annual Green Bonds Issuances


In January, World Bank Group President Jim Yong Kim urged the audience at the World Economic Forum in Davos to look closely at a young, promising form of finance for climate-smart development: green bonds. The green bond market had surpassed US$10 billion in new bonds during 2013. President Kim called for doubling that number by the UN Secretary-General's Climate Summit in September.

Just a few days ago—well ahead of the September summit—the market blew past the US$20 billion mark when the German development bank KfW issued a 1.5 billion Euro green bond to support its renewable energy program.

Three Types of Climate Action for Europe and Central Asia Region

Uwe Deichmann's picture

An array of energy efficient light bulbs.
Under current trajectories, the world is headed toward a world that will be 4 degrees warmer by the end of this century. Despite the mounting concern around this scenario, many countries throughout the Europe and Central Asia (ECA) region are understandably reluctant to introduce more ambitious climate policies because they are worried about the negative consequences on competitiveness or energy affordability, for instance.

However, as we try to show in our recent publication, Growing Green: the Economic Benefits of Climate Action, strategic investment in climate action can benefit these countries in the medium- and long-terms – thus offsetting the negative consequences of these investments.

Above all, countries need to focus on three types of climate action: climate action as a co-benefit, climate action as an investment, and climate action as insurance.

Copenhagen: A long, long night

Inger Andersen's picture
   Photo © iStockPhoto.com

The weather here is absolutely freezing cold, dark and grey.  Although Denmark is my home country, I think my many years in Africa and the Middle East have inoculated me in such a way that my system cannot really take this dreary weather. But it is pretty. There are Christmas lights everywhere and a cheery mood throughout the cityeven on the packed Metro in the morning.

So what is this COP 15 all about?  And why is it so hard? Getting 192 countries to agree on something is inevitably going to be pretty complicated. And once this involves serious compromises, technology, big bucks, and equity and lifestyle issues, it gets all the more difficult.