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by Issuer by Issuer Corporate Government by Underlying by Issuer - - PowerPoint PPT Presentation
by Issuer by Issuer Corporate Government by Underlying by Issuer - - PowerPoint PPT Presentation
by Issuer by Issuer Corporate Government by Underlying by Issuer Corporate Government by Underlying by Issuer Zero coupon bond Corporate Zero coupon convertible bond Government Variable rate bond Deferred interest bond by Underlying
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by Issuer
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Corporate Government
by Issuer
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Corporate Government
by Underlying by Issuer
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Corporate Government Zero coupon bond Zero coupon convertible bond Variable rate bond Deferred interest bond
by Underlying by Issuer
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Corporate Government Zero coupon bond Zero coupon convertible bond Variable rate bond Deferred interest bond
by Underlying by Issuer by Collateralisation
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Corporate Government Zero coupon bond Zero coupon convertible bond Variable rate bond Deferred interest bond
by Underlying by Issuer by Collateralisation
Debenture bonds Mortgage bonds Income bonds Collateral trust bonds Subordinated debentures Serial bonds Guaranteed bonds
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Climate-Aligned
Bond Universe
Unlabelled Climate- Aligned Bonds (83%) Labelled Green Bonds (17%)
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Climate-Aligned
Bond Universe
Unlabelled Climate- Aligned Bonds (83%) Labelled Green Bonds (17%)
$576 bn
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Climate-Aligned
Bond Universe
Unlabelled Climate- Aligned Bonds (83%) Labelled Green Bonds (17%)
$576 bn $118 bn
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Sector Division
Oustanding bonds
Energy (19%) Transport (67%) Multi-sector (8%) Water (3%) Building&Industry (2%) Agriculture & Forestry (1%) Waste&Pollution COnstrol (1%)
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Sector Division
Oustanding bonds
Energy (19%) Transport (67%) Multi-sector (8%) Water (3%) Building&Industry (2%) Agriculture & Forestry (1%) Waste&Pollution COnstrol (1%)
Currency Division
Oustanding bonds
USD (25%) CNY (33%) EUR (16%) GBP (9%) CAD (3%) RUB (3%) INR (2%) KRW (2%) CHF (2%) SEK (1%) Other (4%)
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renewable energy
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renewable energy
including production, transmission, appliances and products
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renewable energy
including production, transmission, appliances and products
pollution prevention and control
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renewable energy
including production, transmission, appliances and products
pollution prevention and control
including waste water treatment, greenhouse gas control, soil remediation, recycling and waste to energy, value added products from waste and remanufacturing, and associated environmental monitoring analysis
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renewable energy
including production, transmission, appliances and products
pollution prevention and control
including waste water treatment, greenhouse gas control, soil remediation, recycling and waste to energy, value added products from waste and remanufacturing, and associated environmental monitoring analysis
terrestrial and aquatic biodiversity conservation
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renewable energy
including production, transmission, appliances and products
pollution prevention and control terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments including waste water treatment, greenhouse gas control, soil remediation, recycling and waste to energy, value added products from waste and remanufacturing, and associated environmental monitoring analysis
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renewable energy
including production, transmission, appliances and products
pollution prevention and control
including waste water treatment, greenhouse gas control, soil remediation, recycling and waste to energy, value added products from waste and remanufacturing, and associated environmental monitoring analysis
terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
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renewable energy
including production, transmission, appliances and products
pollution prevention and control
including waste water treatment, greenhouse gas control, soil remediation, recycling and waste to energy, value added products from waste and remanufacturing, and associated environmental monitoring analysis
terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation
including the protection of coastal, marine and watershed environments
sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
new and refurbished buildings, energy storage, district heating, smart grids, appliances and products
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
new and refurbished buildings, energy storage, district heating, smart grids, appliances and products
sustainable management
- f living nature
resources
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
new and refurbished buildings, energy storage, district heating, smart grids, appliances and products
sustainable management
- f living nature
resources
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
new and refurbished buildings, energy storage, district heating, smart grids, appliances and products
sustainable management
- f living nature
resources
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
clean transportation
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products
development and introduction of environmentally friendlier, eco labelled
- r certified products,
resource efficient packaging and distribution
energy efficiency
new and refurbished buildings, energy storage, district heating, smart grids, appliances and products
sustainable management
- f living nature
resources
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
clean transportation
such as electric, hybrid, public, rail, non-motorized, multi-modal transportation, infrastructure for clean energy vehicles and reduction
- f harmful emissions
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products energy efficiency sustainable management
- f living nature
resources
including sustainable infrastructure for clean and/or drinking water, sustainable urban drainage systems and river training and other forms of flooding mitigation
clean transportation
such as electric, hybrid, public, rail, non-motorized, multi-modal transportation, infrastructure for clean energy vehicles and reduction
- f harmful emissions
climate change adaptation
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renewable energy pollution prevention and control terrestrial and aquatic biodiversity conservation sustainable water management eco-efficient products energy efficiency sustainable management
- f living nature
resources clean transportation climate change adaptation
including information support systems, such as climate
- bservation and early warning system
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
EIB issues first Climate Awareness Bond
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
EIB issues first Climate Awareness Bond First World Band bond issued
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
EIB issues first Climate Awareness Bond First World Band bond issued Climate Bond Initiative launched
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
EIB issues first Climate Awareness Bond First World Band bond issued Climate Bond Initiative launched First corporate, 'use of proceed' bonds issued, e.g. EDF , Bank of America and Vasakronan
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Issued green bonds
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 5 10 15 20 25 30 35 40 45
EIB issues first Climate Awareness Bond First World Band bond issued Climate Bond Initiative launched First corporate, 'use of proceed' bonds issued, e.g. EDF , Bank of America and Vasakronan November: Bank of America Merrill Lynch Green Bond Index launched, Barclays MSCI Green Bond Index launched
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Sector Division
Oustanding bonds
Energy (29%) Transport (6%) Multi-sector (49%) Water (6%) Building&Industry (9%) Agriculture & Forestry (0%) Waste&Pollution (1%)
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Sector Division
Oustanding bonds
Energy (29%) Transport (6%) Multi-sector (49%) Water (6%) Building&Industry (9%) Agriculture & Forestry (0%) Waste&Pollution (1%)
Currency Division
Oustanding bonds
USD (43%) RMB (8%) EUR (38%) SEK (7%) Others (4%)
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Labelled green bond
AAA (43%) AA (15%) A (15%) BBB (9%) <BBB (4%) No rating (14%)
Unabelled green bond
AAA (15%) AA (37%) A (16%) BBB (10%) <BBB (6%) No rating (16%)
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Company A
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Company A
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Company A
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Company A Bank
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Company A Bank fees
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Company A Bank fees Investors
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Company A Bank fees Investors, bondholders
face value at maturity coupons
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Green ''Use of Proceeds' Bond proceeds are earmarked for green projects full re-course to the issuer credit ranking of issuer applies example: EIB 'Climate Awareness Bond, backed by EIB'
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Green ''Use of Proceeds' Bond Revenue Bond Green ''Use of Proceeds' proceeds are earmarked for green projects full re-course to the issuer credit ranking of issuer applies example: EIB 'Climate Awareness Bond, backed by EIB' proceeds are earmarked for green projects revenue streams from the issuers through fees, taxes etc are collateral for the debt example: Hawaii State, backed by fees and electricity bills of the state utilities
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Green ''Use of Proceeds' Bond Revenue Bond Green ''Use of Proceeds' Green Project Bond proceeds are earmarked for green projects full re-course to the issuer credit ranking of issuer applies example: EIB 'Climate Awareness Bond, backed by EIB' proceeds are earmarked for green projects revenue streams from the issuers through fees, taxes etc are collateral for the debt example: Hawaii State, backed by fees and electricity bills of the state utilities Ring-fanced for the specific underlying green project(s) re-course is only up to project's assets and balance sheet example: Alta Wind Holding, backed by the Alta Wind project
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Green ''Use of Proceeds' Bond Revenue Bond Green ''Use of Proceeds' Green Project Bond Green Securitiezed Bond proceeds are earmarked for green projects full re-course to the issuer credit ranking of issuer applies example: EIB 'Climate Awareness Bond, backed by EIB' proceeds are earmarked for green projects revenue streams from the issuers through fees, taxes etc are collateral for the debt example: Hawaii State, backed by fees and electricity bills of the state utilities Ring-fanced for the specific underlying green project(s) re-course is only up to project's assets and balance sheet example: Alta Wind Holding, backed by the Alta Wind project either earmarked for green project or go directly to underlying green projects re-course is to the group of projectsthat have been grouped together example: Solar City, backed by residential solar leases
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Green Bonds indexes are designed to track a dynamic of global green bond market
- 1. S&P Green Bond Index
launched in 2014 bonds flagged as green' by Climate Bonds Initiative excluded: bills, STRIPS, inflation-linked bid price based on Thomson Reuters and S&P Securities Evaluations (SPSE). Index is weighted by market value aggregating the intrest returns and price returns
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Green Bonds indexes are designed to track a dynamic of global green bond market
- 2. Barclays MSCI Green Bond Index
launched in 2014 green evaluation of bonds by MSCI ESG Research to identify green bonds from the broader universe of self-labeled green securities applies fixed income criteria as an index rule ( tax-exempt securities are not included, fixed minimum issues sizes) credit quality rating of Baa3/BBB- or higher, using the middle rating of Moody’s, Fitch, and S&P . G fixed rate security only Inflation-linked, convertible and government securities are ineligible for the Green Bond Index. Retail bonds, private placements and bonds without a third-party pricing source are also ineligible valuetion coinside with core index rules and mechanics applied to Barclays’ flagship aggregate indices
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Green Bonds indexes are designed to track a dynamic of global green bond market
- 2. Barclays MSCI Green Bond Index
launched in 2014 green evaluation of bonds by MSCI ESG Research to identify green bonds from the broader universe of self-labeled green securities applies fixed income criteria as an index rule ( tax-exempt securities are not included, fixed minimum issues sizes) credit quality rating of Baa3/BBB- or higher, using the middle rating of Moody’s, Fitch, and S&P . G fixed rate security only Inflation-linked, convertible and government securities are ineligible for the Green Bond Index. Retail bonds, private placements and bonds without a third-party pricing source are also ineligible valuetion coinside with core index rules and mechanics applied to Barclays’ flagship aggregate indices
- 2. BofA Merrill Lynch Green Bond