Climate Bond Standard includes solar assets open for certification
Ideas get bigger when you share them...
LONDON - August 15, 2013 (Investorideas.com renewable energy stocks newswire) The Climate Bonds Initiative has today issued proposed eligibility criteria for solar assets under the Climate Bond Standard and Certification Scheme. The criteria are added to those for wind energy to become the second batch of eligible assets for bond certification.
According to Climate Bonds CEO Sean Kidney, "Solar energy seems like a straightforward fixed asset to include in our definition of a low carbon economy. But we needed an expert working group to address questions around potential environmental impacts, fossil fuel back up and supply chain manufacturing to make sure we have all bases covered."
He added, "certification will be most useful for utilities and banks looking to issue corporate bonds where the proceeds are then allocated to solar assets. Solar eligibility criteria confirm assets that can be counted in pools qualifying for Climate Bonds labeling. The rest of the Climate Bond Standard provides assurance for investors around the proper use of proceeds."
The Solar Technical Working Group convened at the beginning of the year to examine the best way to formulate the eligibility criteria for solar energy. The group includes experts from:
The International Energy Agency (IEA)
SolarPACES research consortium
The US National Renewable Energy Laboratory (NREL)
Bloomberg New Energy Finance
Semiconductor Equipment and Materials International (SEMI)
The European Photovoltaic Industry Association (EPIA)
Wolfeaware, and the
Desertec Industrial Initiative (DII)
Matthew Hale, Managing Director, Environment Executive at Bank of America Merrill Lynch, welcomed the criteria saying, "This will be a very useful tool for us to apply with bond issuing clients who want to be recognised for their contribution to a low carbon economy." The project has received funding from the Bank of America Foundation.
The first set of criteria released by the working group for public consultation relates to fixed assets for solar power generation, or for transmission infrastructure to deliver such electricity. The criteria specifies the amount of non-solar fuel back-up or hybridization allowed for projects such as concentrated solar power plants at 15%. Criteria for manufacturers in the solar supply chain will follow in the Autumn. The criteria and background paper are available on the website, www.standards.climatebonds.net
The Climate Bond Standard is a screening tool for investors and governments to support investment in delivering a Low Carbon Economy - was developed by the Climate Bonds Initiative. Bonds complying with the Standard will be certified as ‘Climate Bonds’, a mark that assures their contribution to the delivery of a Low Carbon Ecoanomy.
The Standard is supervised by a board comprising:
The California State Teachers Retirement System (CalSTRS)
The Nature Resources Defense Council
The Carbon Disclosure Project
The Ceres Investor Network on Climate Risk
The (Australian) Investor Group on Climate Change
The State Treasurer of California, Bill Lockyer
The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. www.climatebonds.net
For more information or interviews: Sean Kidney, Climate Bonds Initiative, firstname.lastname@example.org +44-75-2506-8331.
This news is published on the Investorideas.com Newswire and its syndicated partner network
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.