The Climate Bonds Initiative’s efforts to promote sustainable water investment were recognized by the White House today at its Water Summit
In partnership with Ceres, the Alliance for Global Water Adaptation, CDP, and the World Resources Institute (WRI), the Climate Bonds Initiative is launching a new Water Climate Bonds Standard with a focus on vulnerability assessment and climate mitigation and adaptation planning to the fixed income space.
The Water Climate Bonds Standard has been created to provide investors with verifiable, science-based criteria for evaluating bonds earmarked for financing sustainable water infrastructure projects. The Standard will also help corporate, municipal and other bond issuers expand their green bond offerings into water-related projects.
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This standard can be used to evaluate projects as diverse as energy or industrial water efficiency, reuse, catchment or watershed restoration and or large-scale water supply infrastructure development.
Climate Bonds CEO Sean Kidney:
“The critical lens of climate must be used to assess future water investment, for new infrastructure and upgrade, projects, potable water supply, energy, agriculture, and industrial processes. To address water sustainability, we need to shift investable capital towards adaptive and resilient projects in a short space of time. This positive acknowledgement by the White House of the Water Climate Bonds Standard’s role in evaluating blue/green investments will boost investor confidence.”
The San Francisco Public Utilities Commission expects to be the first issuer to align a forthcoming bond sale with the Standard in order to finance sustainable storm water management and wastewater projects.
Harlan Kelly, SFPUC General Manager:
“As utilities across the nation invest in our aging water, power and sewer systems much of that work is to directly address the protection of our environment and the growing impacts of climate change. San Francisco is proud to be prioritizing sustainable bond financing options to support our infrastructure work, and the Water Climate Bonds’ Standard will help investors grow this market.”
Justine Leigh-Bell, Global Standards Manager, Climate Bonds:
“San Francisco PUC is showing leadership by example to the US municipal bond market with the forthcoming issuance of a certified water bond. They are to be congratulated.”
“San Francisco PUC is paving the way for other public authorities internationally to issue certified climate bonds for water infrastructure upgrades. It’s a vote of confidence that the Water Climate Bonds Standard is relevant and applicable for assessing water bonds.”