A consultation for the world’s first standard for low carbon and climate-resilient water bonds has launched.
The Water Climate Bond Standard will undergo a 60-day period of international public consultation, seeking investor, industry and stakeholder comments.
It aims to focus on vulnerability assessment, climate mitigation and adaptation planning.
Climate Bonds Initiative’s (CBI) standard is expected to allow investors to prioritise projects which seriously take into consideration climate impacts and resilience.
It will certify water investments which have carried out climate vulnerability assessments considering past, present and future risks.
Betsy Otto, Global Director, World Resources Institute –Water Programme said: “We need to ensure green investments in water infrastructure are truly green. This means meeting water needs while reducing carbon emissions and using strategies that adapt to widely variable future water conditions, such as intense storms, floods and droughts.
“These new Standards help set a higher bar for the investments we need to be making in the future.”