BlackRock to promote climate bonds in impact investment drive
Tuesday, November 3, 2015
BlackRock, the world’s largest asset manager, has become the latest partner in a global initiative to promote the growing market for green bonds.
The investor giant, which manages $4.5tr of assets worldwide, yesterday confirmed it is the newest member of the Climate Bonds Initiative (CBI), a non-profit programme that aims to improve the market for bonds that will support climate mitigation and adaptation investments, such as renewable energy technologies and flood protection measures.
Green bond issuance is expected to reach $60bn to $70bn this year, figures show. A recent report by the Climate Bonds Initiative, UNEP, and The World Bank predicted that with the right support in place, $1tr of green bonds could be issued per year by 2020, providing a large proportion of the climate finance required to help poor countries cope with the worst impacts of climate change.
Source: Business Green (link opens in a new window)