Green bonds surpass $100bn milestone in first half of 2019

Climate Bonds expects the impact of the EU’s Technical Expert Group on Sustainable Finance will help open the 2020s path toward the first trillion in annual green finance investment

Green bonds that have been issued in 2019 have surpassed the $100 billion (£78.4bn) milestone in the first half of the year.

The benchmark was first met in November 2017 during COP23 and in mid-September in 2018.

This is the first time the key milestone has been reached in the first half of the year, according to Climate Bonds.

It expects the impact of the EU’s Technical Expert Group (TEG) on Sustainable Finance will help open the 2020s path toward the first trillion in annual green finance investment.

Sean Kidney, CEO of Climate Bonds said: “Reaching $100bn in green issuance for the third time and so early in the year is welcome, however, the global climate finance challenge is to reach $1 trillion in annual green investment early in the 2020s. The EU TEG process, in particular, the EU Taxonomy opens new pathways to achieve this critical climate investment goal.

“The common definitions that the EU Taxonomy provide across broad sectors of the real economy, opens the door to brown-to-green transition of corporate assets and capex programmes and for banks and insurance companies to sizeably increase the availability of green capital. It also provides pension funds with the increasing confidence of their role as long term supporters of the leaders in this economy wide shift towards zero carbon.”

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