Climate focus drives demand for ‘green’ bonds
Marilyn Ceci, a managing director at JPMorgan Chase, says increasing the amount of capital targeted to address pressing environmental challenges such as climate change is critical.
“By providing transparency and integrity to the green bond market and bolstering investor confidence, we expect the green bond principles will expand capital allocation to projects that provide environmental benefits,” she says.
Mr Kim called the principles a key step towards attracting more financing for renewable energy and clean technology, especially for emerging markets where the green growth financing gap is significant.
“We need to seize the opportunity, one that many financial leaders have been calling for,” Mr Kim said at Davos. “Let’s use appetite for green bonds to expand the universe of investors who are investing in green assets.”
“We believe that the green bond principles will help act as a catalyst to develop this rapidly growing market, by providing a clear set of voluntary guidelines for issuers, investors and underwriters,” he says.