Category: Investment, Water
LONDON - April 13, 2016 (www.waternewswire.com) Climate Bonds has convened a Marine Technical Working Group to develop new assessment criteria for low carbon investments in the marine sector.
The Marine Technical Working Group (TWG) brings together international marine scientists, industry specialists and academics with widespread expertise in marine science, including sustainable fisheries, aquaculture, marine energy and resources, coastal zones, ecosystems and infrastructure.
After development, public consultation and review the finalised Marine Sector Criteria will go before the independent Climate Standards Board for approval. On release, the Marine Criteria will then be available as a sector specific screening tool for investors to assess the green credentials of bonds financing marine investments and for bond issuers to gain certification of low carbon marine-related investments under the Climate Bonds Standard.
Dr. Michael Phillips, WorldFish/CGIAR & Marine TWG Member:
"The Marine sector offers a plethora of investment opportunities; marine energy, sustainable fisheries, aquaculture and ports and marine infrastructure. However, if projects invested in now are not low carbon, we are locking in years of high emission infrastructure; and if they're not climate resilient we miss the opportunity to future-proof them."
Carmen Lacambra, Global Climate Adaptation Partnership / Grupo Laera & Marine TWG Member:
"Climate change is going to have profound impacts on the productivity, sustainability and resilience of marine ecosystems. Marine activities and infrastructure must become compatible with limiting global warming to 2°C and sound adaptation and resilient actions are required to ensure such activities sustain."
Ryan Whisnant, PEMSEA & Marine TWG Member:
"It's essential that investment in coastal and marine industry, infrastructure and ecosystems contribute to a rapid transition to a sustainable, low-carbon economy. By identifying low-carbon and resilience factors for marine-related projects, the Marine criteria will help achieve this".
Sean Kidney, CEO, Climate Bonds Initiative:
"The formation of this Marine Technical Working Group represents another stage in developing rigorous science based foundations for climate finance via bonds and related debt instruments."
"Coastal, port and marine infrastructure, marine energy and sustainable ocean supply chains all require active investor support. Standards for blue green bonds will help scale up investment in assets and projects that make a real difference."
Climate Bonds Initiative
(+44 (0) 7506 270 943)
About Climate Bonds Initiative:
The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. For more information, please visit www.climatebonds.net
The Climate Bonds Standard is a general screening tool with sector specific categories that assists investors and governments to easily prioritize climate and green bonds with confidence that the funds are being used to deliver climate change solutions.
Sector specific criteria are developed by Technical Working Groups (TWG) and undergo investor and stakeholder reviews before public release for use by issuers and investors. Climate Certified bonds must meet the requirements of the Climate Bonds Standard with any assets and projects funded consistent with the relevant eligibility criteria.
Climate Bond Standards are operative and green bonds are currently being certified under the Solar, Wind, Geothermal, Low Carbon Buildings and Low Carbon Transport sector criteria. Soon to be available are Water, Bioenergy and Agriculture and Forestry standards.
About the Marine Sector:
The formation of the Marine TWG is the first sector development project for 2016.
Members of the Marine TWG:
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