Climate Bonds: Windreich BBB+ wind energy bond / Local Govt PF makes climate bonds allocation / Diary alert 3 July: Peggy Liu on China energy / Clements-Hunt+Damerow join CB Adv Panel

Ethical Markets Green Prosperity

 > German wind company Windreich has placed another €5m of 5 year bonds, taking their issuance to €75m in total. The bond has an investment grade BBB+ rating – wind energy bond ratings are improving all the time! Interest rate is 6.5%.

>  $6bn Australian pension fund ‘Local Government Super has announced it has made a specific allocation to green or climate-themed bonds, according to newsletter ”Sustainability Report. It has moved all of its nearly $170m government bond allocation to a strategy that explicitly incorporates environmental, social and governance (ESG) analysis into the selection process, with an allocation of up to 15% invested in climate themed bonds – bonds dedicated to climate-related activities that push the transition to low-carbon economies. “We are putting this into the allocation because we think that green bonds are an excellent innovation in finance,” said fund spokesperson Bill Hartnett. “It’s as much about transpare ncy as anything else. You know where your money goes.” Who will be next?

> Diary alert – Tues 3 July, 4-6pm, London: join us for a roundtable with China energy expert Peggy Liu, chair and co-founder of the Joint US-China Collaboration on Clean Energy (JUCCCE), an NGO dedicated to changing the way China creates and uses energy. Peggy is also an advisor to Marks & Spencer on sustainable retailing and was a Time Magazine Hero of the Environment in 2008. Let me know if you can make it.

> We welcome two new members of Climate Bonds Advisory Panel:

Paul Clements-Hunt, was head of the United Nations Environment Programme Finance Initiative (UNEP FI) for 12 years until earlier this year; he is now focused on setting up a new corporate and investment advisory company, The Blended Capita l Group.

Frank Damerow, is a Portfolio Manager at Landesbank Baden-Württemberg (LBBW) in Germany, a former head of ABS Syndicate at Standard Chartered Bank and at Commerzbank, and Member of the Advisory Board at GEXSI, a global exchange for social investment. Frank is a co-author of the recent Climate Bonds Initiative proposal for Renewable Energy Covered Bonds.


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