Climate Bonds Initiative has warmly welcomed the COP21 Paris Agreement Draft as cementing the international direction on targets, transition and a low carbon future.
CEO Sean Kidney said: “This is a substantive, tremendous result that has been achieved by the parties in Paris. The Agreement sets us towards limiting warming to 1.5 degrees, puts significant transition and financial measures in train and cements the global consensus on moving to a low carbon future.”
“By acting in such a coordinated manner the international community has opened the way for institutional investors, regions and cities to now take the lead on climate finance solutions with confidence that governments have set the low carbon direction. The review periods and ratchet mechanisms in the Agreement add certainty and weight for investors and other stakeholders.”
“The one hundred and eighty six national INDCs are also one of the greatest achievements of this COP21 process. Implementing these individual country plans will require investors, development banks, NGOs and governments all working together. This Agreement with its INDC country based plans will boost climate finance and investment models and new timescales that accelerate climate resilient, innovative, low carbon developments across clean energy, efficiency transport, water, urban landscapes and other key sectors.”
“Enormous opportunity now clearly exists to deploy green bond and climate bond financing, to renew ageing infrastructure, and to provide climate finance for emerging markets and economies that require new energy, transport and urban networks over coming decades.”
“Together with other organisations at COP 21 we launched a new Climate Aggregation Platform (CAP), the Green Infrastructure Investment Coalition, and coordinated the Paris Green Bond Statement of the world’s leading global investors. Many other financial initiatives were also announced in Paris. This Agreement now gives their implementation a firm and enduring foundation.”
“Together with investors, regulators, NGOs and other stakeholders Climate Bonds will continue its work to develop robust and transparent green bond markets to assist in reaching the international, INDC and other carbon and climate objectives set out in this historic Agreement.”
“We congratulate all parties on their willingness to reach an unparalleled international climate consensus in Paris. In particular we extend our recognition to the French Government, the UN and UNFCCC on their long term efforts to ensure COP21 results in a successful global outcome.”