The Policy & Practice of Climate Change & Water

Green Bonds

Global Water Forum Article | "Financing sustainable growth through climate bonds"

Representatives of AGWA and WRI have written an article published by Global Water Forum on "Financing sustainable growth through climate bonds." In this short essay, the authors demonstrate the integral role of finance as a tool for addressing climate change — including specific messages for the water management community. The essay highlights the work being led by Climate Bonds Initiative to standardize green and climate bonds for adaptation, mitigation, and resilience. A specific set of criteria for evaluating water infrastructure projects, which includes resilient nature-based solutions, has been growing in use. So far, more than 8 billion USD for climate-resilient water infrastructure from private sector investors, across six continents, over the past three years.

Green Bonds as Financial Instruments for NDC Implementation

On 17 July the UNDP NDC Support Programme hosted a webinar on "Green Bonds as Financial Instruments for NDC Implementation." A video of the event, including presentations, is now available online.

The event provides a brief overview of the topic of green bonds, barriers for international debt capital markets to invest in a consistent manner into emerging markets, how aggregation of project assets and refinancing through proceeds of green bonds can accelerate NDC implementation. It considers structures that can be designed for replication across countries. This is accompanied by three inspiring examples of how such investment structures can work in practice.

Bonds and Climate Change: State of the Market 2017 Report from Climate Bonds Initiative

The ‘Bonds and Climate Change: State of the Market 2017’ report is in-depth analysis of the climate-aligned and labelled green bond markets. The Report quantifies all bonds where proceeds are being used to finance low carbon and climate resilient infrastructure. The dataset of this year's State of the Market includes 3,493 bonds from 1,128 issuers across seven climate themes: transport, energy, multi-sector, water, buildings and industry, waste and pollution, agriculture and forestry. The 2017 report also has a particular focus on cities with ten case studies identifying existing best practice green city bonds issuance along with opportunities for new city based issuance.

From Climate Bonds Initiative - Launch of Hydropower Technical Working Group: Developing new criteria for green investment

Below is an excerpt from CBI's Press Release on their new Hydro TWG:

The Climate Bonds Initiative has launched a Hydropower Technical Working Group (TWG) to assess and develop Criteria for climate-friendly investment in the sector.

The aim is to develop Criteria that can identify and monitor hydropower investments which deliver climate mitigation benefits and/or incorporate adaptation and resilience impacts, whilst screening out those that don’t meet these objectives.

The Criteria are intended to provide a screening tool for both investors and issuers to determine whether bonds linked to hydropower assets can be considered consistent with limiting warming to a global average of 2°C. They will provide a potential path for certifying green bonds in the sector, under the Climate Bonds Standard and Certification Scheme.

The TWG will be taking a robust science-based approach, one that looks at verifiable targets and metrics and takes into account in its analysis and assessment processes the environmental and social challenges that face some hydro developments.

Continue reading the full article at

OOSKAnews Voices: Warming Climate, Rising Waters at the Paris COP: Green Bonds, #ClimateIsWater, and Marrakesh

OOSKAnews Voices is a new series of guest “opinion columns” on water, written by senior participants in different parts of the international water community. The columns provide a global platform for organizations and individuals to promulgate their views and messages.

In this piece, John H. Matthews, co-founder and secretariat coordinator for the Alliance for Global Water Adaptation (AGWA) reflects on his experiences at the recently concluded COP21 talks in Paris. Read More...