Sustainability bonds international conference: summary
- Sustainabilty bonds: more than 2,000 million euros already issued in Spain
- The Sustainability Bonds International Conference was held today in Madrid, organized by SUST4IN in conjunction with the Climate Bonds Initiative
- The great demand from responsible investors explains the growth of green bonds and social bonds
- The ICO (Instituto de Credito Oficial) has issued the largest social bonus in the world: 1 billion euros to support SMEs and to ultimately create jobs
June 9, 2015. Sustainability bonds are growing worldwide, including in Spain. The Green Bonds, for example, have tripled in 2014 to $36 billion. In Spain there were more than 2 billion euros in sustainability bonds:
- April 2014: Iberdrola, Green Bonds, 750 million euros
- September 2014: Abengoa, Green Bonds, 500 million euros
- January 2015: ICO, Social Bonds, 1 billion euros
The growth is induced by several factors, but in any case is driven by demand. Responsible investors have over-subscribed most of the sustainability bonds.
These were some of the discussions that have taken place at the Sustainability Bonds International Conference, organized in Madrid today by SUST4IN, the sustainability experts, in conjunction with the Climate Bonds Initiative. The event has had a great audience, especially companies with potential to issue green bonds or social bonds, investors and banks.
Marcio Viegas, Founder and CEO of SUST4IN, has opened the conference, presenting the foundations of this market and the Green Bond Principles. He also drew attention to “mitigation and adaptation to climate change, for example, demand billions of dollars in investments that can not only minimize environmental and social impacts, but also create and distribute prosperity and jobs.”
Antonio Cordero, Head of Funding and Treasury, at the Instituto Oficial de Crédito (ICO), gave a keynote speech on the 1 billion euros Social Bonds ICO issued in January, saying that “the main advantages of this issuance have been the showcasing of the ICO support to SMEs, the expansion of our universe of investors and the internal ‘revolution’ as we were able to offer a product with a tangible impact. “
” Assurance and transparency are key factors to support this market to grow sustainably”, said Alessandro di Benedetto Business Development Manager at DNV GL, “our verification approach is founded on the analysis of processes adopted by the organization and best practice, and uses internationally recognized standards for assurance of extra-financial data.”
Sean Kidney, CEO of Climate Bonds Initiative, presented the current situation and trends in the global market. “The green bonds market has been the climate finance phenomena of the past year – and it will continue to be”. The continuing levels of over-subscription make it clear there is investor appetite for green investments.
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