Rachel Goult, Director, S&P Global Ratings, looks at the GCC’s efforts to become a large producer of solar energy – and how new capital market involvement and green Islamic finance initiatives could help support the growing industry.
To read the full article please click here.
In a recent report, S&P Global Ratings states that the proportion of green covered bonds could rise significantly, as regulators encourage green finance and banks focus increasingly on the financing of green assets.
The news was covered in Environmental Finance and Global Capital.
In Environmental Finance’s article on the Nordic green finance market, Andrea Croner, Associate, S&P Global Ratings, says “The Nordic countries are leading the way for transparency of impact reporting” and “Nordic public sector entities have become sought-after specialists in this area. Partly thanks to their efforts, investing in green bonds has become more transparent and, therefore, more attractive to investors worldwide.”
To read the full article, please click here; the article was also published in print. (please note that the online article is behind a paywall)
Green bonds represent a small share of bank borrowings globally. However, that proportion is expected to rise considerably in the coming years. Miroslav Petkov, Director in the Sustainable Finance Team of S&P Global Ratings, considers the recent – and future – growth of banks’ green issuance in Global Banking & Finance Review.
Read the full article here.
In light of the UN’s High-level Political Forum on Sustainable Development, ICC United Kingdom Secretary General Chris Southworth, talks to Michael Wilkins, Head of Sustainable Finance, S&P Global Ratings, about how the public and private sectors are enabling sustainable finance, the UN’s sustainable development goals (SDGs) and resilient societies.
To listen to the full podcast click here.
The GCC faces high spending requirements on two fronts. Infrastructure projects require approx. US$120-150 billion between now and 2019, while refinancing corporate capital market debt also demands US$23.6 billion, due before 2019.
However, green Islamic financing fuelled corporate and infrastructure Sukuk issuance in the GCC last year, writes Michael Wilkins, Head of Sustainable Finance at S&P Global Rating. So, it appears that this nascent asset class could help the development of Sukuk issuance overall in the region.
Read the full article here on pages 44-45.
Writing for Responsible Investor, Michael Wilkins, Head of Sustainable Finance at S&P Global Ratings, considers the changing nature of the green finance market. While it continues to be led by the green bond, new financing vehicles – such as green securitisation and green sukuk – may help address climate change, while meeting infrastructure and energy needs.
Read the article full here (note: behind a paywall or with a free trial)
Last year’s COP23 event focused on the need to accelerate climate change mitigation and adaptation efforts, and increase infrastructure resilience. But where will the money come from?
Writing for the Energy Institute’s publication Energy World, S&P Global Ratings Analyst, Jessica Williams, discusses how enabling private sector finance will likely be critical for decarbonisation ambitions to be met.
To read the piece online, please click here. Please be advised that membership to the Energy Institute is required.
As market interest continues to mount in renewable energy, energy efficiency, and water conservation measures, U.S. cities and states are witnessing substantial reductions in their carbon footprints, as well as an ongoing mass transformation of the energy generation grid. As such, many municipalities are taking advantage of the “green bond” as a way to finance the transition.
In Sustainable City Network, Michael Ferguson, Director, Infrastructure, S&P Global Ratings examines the representation of cities in America’s green bond market and how increasing numbers of municipal green bonds could help support sustainable goals.
To read the full article, please click here.
Speaking to Environmental Finance, S&P Global Ratings’ Michael Wilkins, Managing Director, Environmental & Climate Risk Research, appeals for greater attention to effective disclosure of green bond issuances to ensure that their environmental objectives are met.
A report by S&P Global Ratings has found that a lack of transparency and governance measures is significantly affecting the scores of self-labelled green bond issuances under S&P Global Ratings’ Green Evaluation. The Green Evaluation scores green bonds issued to finance carbon mitigation projects according to three criteria – mitigation, governance, and transparency – before aggregating them into an overall score, on a scale of E1 (highest) to E4 (lowest). After assessing 282 green bond issuances between January 2012 and July 2017, S&P Global Ratings found that the projects they evaluated tended to fall down at the point of effective disclosure through transparency and governance measures. This lack of effective disclosure, Michael notes, is even more apparent in the wider green bond market. Improving transparency and governance is crucial to ensuring that green bonds live up to the reason for their issuance – that is, making a positive contribution towards decarbonisation.
To read the full article, please click here.