Park Bonds / (Biodiversity Bonds)
|
|
- Norah Robbins
- 8 years ago
- Views:
Transcription
1 Park Bonds / (Biodiversity Bonds)
2 Introduction On top of EF-level strategies, Ressource Mobilization could take place at a regional or international level. It would allow: Additional source of funds A greater cooperation between funds Economy of scale Two main solutions: o International Association (in charge of additional fundraising activities for the network of EFs) o International Conservation Fund
3 Capital Asset Manager International Environmental Trust Fund Distribution of generated interests to individual EFs Interest International Parks Association Additional Capital raised by the Association, distributed to and invested by each Environmental Fund AM1 AM2 AM3 interest interest interest Capital interest Capital interest Capital interest EF1 EF2 EF3 EF1 EF2 EF3 FIELD ACTIVITIES, Protection of PAs FIELD ACTIVITIES, Protection of PAs
4 Total Bond Market (USD 100 trillion in 2012) Climate-themed bonds (USD 346 billion in 2013) Green bonds (USD 7.4 billion in 2013) Park Bonds???? Why Park Bonds? New concept but there should be an interest for such financial product (momentum) Easy way to propose ethical financial products to Pension funds or sovereign wealth funds Other tools could be designed but bonds allow to raise a lot of capital PARADIGM SHIFT
5 Question: if park bonds are issued, how to pay coupons? (main problem of Forest Bonds )
6 Socially Responsible Investment GREEN INVESTMENT STRATEGY Impact Investments Green bonds Regular financial instruments Upstream Environmental Positive Impacts interest i.e. 5% International Environmental Trust Fund Principal interest minus coupon i.e. 4% EF1 EF2 EF3 FIELD ACTIVITIES, Protection of PAs $ coupon i.e. 1% Bond holders (institutional investors) Downstream Environmental Positive Impacts option 1 By International Financial Institution Principal Park Bonds issuance Requirements: -low coupon -low risk - If possible AAA option 2 By an ad hoc institution (the IETF)
7 The positive aspects of this new proposal are that: it would allow networks of EFs to raise funds collectively, targeting big international investors if successful, it offers huge potential by favouring SRIs, impact investments and other ethically responsible financial products, such a proposal could serve to convince member countries of the CBD that currently criticize EFs it is likely to satisfy investors given its double positive impact (upstream with SRI and Impact Finance; downstream with the distribution of remaining interests to individual EFs).
8 For being successful, Parks Bonds will need: International acknowledgement of the positive role played by EFs (preferably including recognition from the CBD). The huge potential impact offered by park bonds, and the fact that at least a reasonable part of the raised capital would be invested in SRI, should add weight to the argument. An official letter of approval should be obtained from each country where EFs operate, to provide bond holders (likely to be institutional investors) with a guarantee that there are no sovereignty issues at stake. Investors should not be allowed to influence, or interfere in, the way interest will be used. Each EF should be able to use interests either to increase its endowment fund or to cover urgent needs in PAs (e.g. through a sinking fund).
9 For being successful, Parks Bonds will need: The board of each EF should officially approve this new type of financing. Investors should be given the complete picture of results obtained by the mechanism: Full financial transparency (publication of financial audits, not only from the Fund for PAs, but also from each individual beneficiary EF) Full environmental transparency (publication of periodic environmental assessments) As necessary, other reports to satisfy compliance with international standards for the good governance and management of EFs. Ability to offer a guarantee that interests and principal payments will be made, should the issuer default due to reasons such as insolvency. Certain government could be willing to offer such guarantee, in exchange for hosting the Fund for PAs. (Countries that are both financial hubs and environmentally friendly, such as Switzerland, could be interested in studying this type of proposal further.)
10 CONCLUSIONS OPERATIONS: Several types of park bonds could be offered to the financial markets, covering: the entire network of participating EFs Latin American EFs African Efs Marine Protected Areas BONDS are one solution but other similar mechanisms could be developed (for instance targeting private banking) STEPS FORWARD?
11 QUESTIONS and COMMENTS
Impact Investing and Green Bonds June 2014
Impact Investing and Green Bonds June 2014 2014 Morrison & Foerster LLP All Rights Reserved mofo.com Impact Investing Investors have become more keenly focused on aligning their investments with their
More informationInnovations in Conservation Finance. Agustín Silvani Managing Director, Carbon Finance Conservation International
Innovations in Conservation Finance Agustín Silvani Managing Director, Carbon Finance Conservation International innovation CI with partners have historically been a leader in developing new sources of
More informationESG and Fixed Income Investing
ESG and Fixed Income Investing ESG and Fixed Income Investing Laura Nishikawa, Head of ESG Fixed Income Research CSR Investing Summit New York, NY 22 July 2014 3 Introducing MSCI ESG Research ESG ratings
More informationInsuring, Hedging and Trading Credit Risks in Financial Macroeconomics
Insuring, Hedging and Trading Credit Risks in Financial Macroeconomics Roxana Angela Calistru 1 + and Alexandru Trifu 1 1 Petre Andrei University of Iasi, Romania Abstract. The purpose of this paper is
More informationGreen City Bonds Coalition
Green City Bonds Coalition Building a global bond market that will finance development of low carbon and climate resilient cities Join us US$22.5 trillion Context: $45 trillion of interest $88 tn assets
More informationInvestors G u i d e 201 0 1 Investors Guide 2011
2011 Investors 2011 Guide 1. 2. 3. 01 Investors Guide 2011 1 2 5 3 4 6 Investors Guide 2011 02 03 Investors Guide 2011 1 2 3 4 5 Investors Guide 2011 04 1 2 2 2 05 Investors Guide 2011 3 3 3 4 5 5 5 Investors
More informationInvestment Report - The Forest 500
INVESTORS 2015 RESULTS To ensure deforestation free supply chains, companies need to adopt and implement timebound and measurable policies for forest risk commodities www.forest500.org About the Forest
More informationGreen Bonds: financing the development of low carbon & climate resilient cities
Green Bonds: financing the development of low carbon & climate resilient cities Bringing solutions to capital Investment required $2.6tn+ p.a. $2tn+ p.a. IEA: Investment, not cost! Discovery Risk-Bridging
More informationDeveloping the Fixed Income Market in Nigeria. September 2010
Developing the Fixed Income Market in Nigeria September 2010 Contents 1. Evolution Where we are coming from 2. Status Quo Where we are 3. Constraints Challenges to be overcome 4. The Future How to develop
More informationGreen Bonds: mobilising institutional investors capital for climate investments
Green Bonds: mobilising institutional investors capital for climate investments Justine Leigh-Bell Senior Manager, Climate Bonds Initiative November 2015 Challenge Global infrastructure investment needs
More informationThe Incentives to Issue Municipal Debt Override the Sound Principles of Infrastructure Management.
From: Greg Baird Sent: Tuesday, March 22, 2011 6:25 AM To: Muni Field Hearings Subject: SEC feedback on Munis: The incentives to issue municipal debt override the sound principles of infrastructure management
More informationA Brief Note on the Global Green Bond Market
IRI Working Paper A Brief Note on the Global Green Bond Market February 2011 David Wood and Katie Grace Abstract: The market for green bonds, while relatively small at around $3.5 billion in 2010, has
More informationResponse to FSA Consultation on Disclosure of Contracts for Differences
Response to FSA Consultation on Disclosure of Contracts for Differences Introduction Hermes is one of the largest pension fund managers in the City of London and is wholly owned by the BT Pension Scheme.
More informationMethodological Tool. Draft tool to determine the weighted average cost of capital (WACC) (Version 01)
Page 1 Methodological Tool Draft tool to determine the weighted average cost of capital (WACC) (Version 01) I. DEFINITIONS, SCOPE, APPLICABILITY AND PARAMETERS Definitions For the purpose of this tool,
More informationA NON BANK INVESTORS VIEW. MARKET 8 October, 2013. STANLIB Kenya Limited
A NON BANK INVESTORS VIEW ON THE REGIONAL LOAN MARKET 8 October, 2013 K th K i Chi f I t t Offi Kenneth Kaniu Chief Investment Officer, STANLIB Kenya Limited Group Structure Loan Market Association STANLIB
More informationFinancing REDD+ Opportunities, Nuances, and Reflections on how to succeed. Bangkok, Thailand September 30, 2012
Financing REDD+ Opportunities, Nuances, and Reflections on how to succeed Bangkok, Thailand September 30, 2012 Context We will need funding for all phases of REDD+ Durban: Funding may come from a wide
More informationAfrican Bond Market Conference November 7 8, 2011 Nairobi, Kenya
African Bond Market Conference November 7 8, 2011 Nairobi, Kenya Credit Ratings: Opportunities and Challenges The Nigerian Experience Vivien Shobo Chief Executive Officer, Agusto & Co Limited Agenda Introduction
More informationCertificate for Introduction to Securities & Investment (Cert.ISI) Unit 1
14cis Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 14: Pension funds Insurance companies Who buys government bonds? Government bonds are bought in large quantities by
More informationQ2 2015 NEWSLETTER. Malaysian capital market grew to RM2.76 trillion in 2014. Khazanah to Launch Malaysia s First Social Impact Bond
Q2 2015 NEWSLETTER Malaysian capital market grew to RM2.76 trillion in 2014 World s First South-East Asia Syariah ETF Listed On Bursa Khazanah to Launch Malaysia s First Social Impact Bond ASEAN CIS Investment
More informationGreen Bonds 1. Policy Brief June 2012 ECONOMY-WIDE AND EMERGING ISSUES. Key Messages
Policy Brief June 2012 ECONOMY-WIDE AND EMERGING ISSUES Green Bonds 1 Key Messages Sustainable Prosperity is a national research and policy network, based at the University of Ottawa. SP focuses on market-based
More informationAn Overview of the Islamic Capital Market in Malaysia
An Overview of the Islamic Capital Market in Malaysia 2008 Islamic Finance News Forum Roadshow, Hong Kong 30 April 2008 Ranjit Ajit Singh Managing Director Securities Commission, Malaysia 1 The Alternative
More informationQE s impact on pension fund liabilities. Mark Gull, Co-Head of ALM Pension Corporation December 2011
QE s impact on pension fund liabilities Mark Gull, Co-Head of ALM Pension Corporation December 2011 Summary Pension Corporation has previously estimated that QE1 increased UK pension fund deficits by 74
More informationPublic Finance. Creative Financings that Build Communities. Attorney Advertising
Public Finance Creative Financings that Build Communities Attorney Advertising After serving as counsel in billions of dollars of financings, we understand how to achieve our clients financial objectives
More informationCommercial Mortgage Securities Association (CMSA) July 2007
Commercial Mortgage Securities Association (CMSA) July 2007 THE COMMERCIAL MORTGAGE-BACKED SECURITIES INDUSTRY FACTUAL BACKGROUND: Commercial Mortgage-Backed Securities (CMBS) Commercial mortgage-backed
More informationStrategic Planning in Funbio
Strategic Planning in Funbio Timeline ICR 96 01 03 06 07 09 11 Plan for Funbio project: how to operate priorities in conservation GEF contract requirements New context in Funbio: new chairman of the Board
More informationInsurance-Linked Securities (ILS): Taller than you might think. November 4 th, 2015 Presented by John Seo of Fermat Capital Management, LLC
Insurance-Linked Securities (ILS): Taller than you might think November 4 th, 2015 Presented by John Seo of Fermat Capital Management, LLC CONTENTS 1 I. MARKET SNAPSHOT II. IMPACT IN FLORIDA III. EPILOGUE
More informationMANAGING RISK IN EMERGING MARKETS OUR CORE BUSINESS
MANAGING RISK IN EMERGING MARKETS OUR CORE BUSINESS Fiscal Year 2014 PROVEN TRACK RECORD 58 Years of profitable investments in emerging markets $67b $51.7b $15.3b $22.4b $17.3b $5.1b $1.5b Diversified
More informationGovernment Pension Fund Global investment strategy for nominal bonds
Ministry of Finance Asset Management Department Boks 8008 Dep. 0030 Oslo Date: 18 March 2011 Your ref.: Our ref.: NBIM/BTa Government Pension Fund Global investment strategy for nominal bonds 1. Introduction
More informationTERMS OF REFERENCE N 025/2015
TERMS OF REFERENCE N 025/2015 Ref: RedLAC CAFÉ Knowledge for Action Project Project K Specialist consultant(s) for content development and workshop moderation on the topic Negotiations with the private
More informationDEBT MANAGEMENT OFFICE NIGERIA
DEBT MANAGEMENT OFFICE NIGERIA MANAGING NIGERIA S DEBT STOCK Presentation at the Investor/Issuer Education Outreach Programme Organised by Securities and Exchange Commission on July 27, 2011 By Patience
More informationMUNICIPAL BONDS EXECUTIVE SUMMARY
Nationwide Funds A Nationwide Financial White Paper EXECUTIVE SUMMARY Municipal bonds have several attractive characteristics, including tax advantages, low volatility and strong credit quality. Challenges
More informationComprehensive Fixed Income Solutions
Comprehensive Fixed Income Solutions for Institutional Investors June 2015 The document is intended for institutional investors and investment professionals only and should not be distributed to or relied
More informationInsurance linked securities Showcasing the convergence of traditional reinsurance with capital markets
Insurance linked securities Showcasing the convergence of traditional reinsurance with capital markets Mark Baumgartner Partner Audit Deloitte James Dockeray Director Tax Deloitte Jeff Bennett Manager
More informationStatus of Capital Adequacy
Capital Adequacy Ratio Highlights 204 Status of Consolidated Capital Adequacy of Mizuho Financial Group, Inc. 206 Scope of Consolidation 206 Consolidated Capital Adequacy Ratio 208 Risk-Based Capital 210
More informationTopics in Chapter. Key features of bonds Bond valuation Measuring yield Assessing risk
Bond Valuation 1 Topics in Chapter Key features of bonds Bond valuation Measuring yield Assessing risk 2 Determinants of Intrinsic Value: The Cost of Debt Net operating profit after taxes Free cash flow
More informationFTSE Global Bond Index Series
FTSE Global Bond Index Series FTSE GLOBAL BOND INDEX SERIES The FTSE Global Bond Index Series is a series of fixed income indices covering the principal government bond markets and selected corporate markets.
More informationFixed Income: The Hidden Risk of Indexing
MANNING & NAPIER ADVISORS, INC. Fixed Income: The Hidden Risk of Indexing Unless otherwise noted, all figures are based in USD. Fixed income markets in the U.S. are vast. At roughly twice the size of domestic
More informationGOVERNMENT OF SAINT LUCIA DEBT MANAGEMENT STRATEGY
Page 1 of 5 Introduction GOVERNMENT OF SAINT LUCIA DEBT MANAGEMENT STRATEGY Debt management is the process of establishing and executing a strategy for managing the government s debt in order to raise
More informationMin. Investment Class A Units Initial: USD 1,000 Additional: USD 250
Issuer: PineBridge Investments Ireland Limited Product Key Facts PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund 22 February 2013 This statement provides you with key information about
More informationClean Energy and Clean Technology Finance Resources
Clean Energy and Clean Technology Finance Resources This document is a preliminary draft summary of finance options in Minnesota and a few selected non-state programs. Angel Tax Credit program Minnesota's
More informationMr Duisenberg discusses the role of capital markets and financing in the euro area Speech by Willem F Duisenberg, President of the European Central
Mr Duisenberg discusses the role of capital markets and financing in the euro area Speech by Willem F Duisenberg, President of the European Central Bank, at the Waarborgfonds Sociale Woningbouw in Utrecht,
More informationG20/OECD HIGH-LEVEL PRINCIPLES OF LONG-TERM INVESTMENT FINANCING BY INSTITUTIONAL INVESTORS
G20/OECD HIGH-LEVEL PRINCIPLES OF LONG-TERM INVESTMENT FINANCING BY INSTITUTIONAL INVESTORS July 2013 This document contains the eighth version of the G20/OECD High-Level Principles on Long-Term Investment
More informationTHE FEDERAL REVENUE EFFECTS OF TAX-EXEMPT AND DIRECT-PAY TAX CREDIT BOND PROVISIONS
THE FEDERAL REVENUE EFFECTS OF TAX-EXEMPT AND DIRECT-PAY TAX CREDIT BOND PROVISIONS Prepared by the Staff of the JOINT COMMITTEE ON TAXATION July 16, 2012 JCX-60-12 CONTENTS INTRODUCTION... 1 I. ESTIMATING
More informationHigh Yield Bonds A Primer
High Yield Bonds A Primer With our extensive history in the Canadian credit market dating back to the Income Trust period, our portfolio managers believe that there is considerable merit in including select
More informationInternational Debt Markets
Bureau of Economic Geology, The University of Texas at Austin Why Discuss Debt Markets Access Requirements? Pemex The cost and availability of debt is key to its future investment program, especially if
More informationSave and Invest Bonds
Lesson 6 Save and Invest Bonds Lesson Description In this lesson, students will learn that bonds are financial assets used to build wealth. Using the more familiar concept of bank loans, bonds are introduced
More informationCMG Managed High Yield Bond Program. 2015 CMG Capital Management Group, Inc.
CMG Managed High Yield Bond Program About CMG CMG is a Registered Investment Advisor located in King of Prussia, Pennsylvania founded in 1992 by Stephen Blumenthal. Since our inception, CMG has embraced
More informationLeveraged Loan Funds: Debunking the Myths
Leveraged Loan Funds: Debunking the Myths SM Leveraged Loan Funds: Debunking the Myths Contents 2 Myth #1: Managing liquidity in actively managed leveraged loan mutual funds is difficult. 3 Myth #2: In
More informationTHE WORLD BANK GREEN BOND
Christopher Flensborg November, 2009 THE WORLD BANK GREEN BOND capital markets enter climate investments 1 OVERVIEW Why we have Pension funds investing in Green Bonds Investor requirements and demands
More informationLoan Capital Formation Strategy of Companies I.D. Anikina*
Abstract Loan Capital Formation Strategy of Companies I.D. Anikina* Defines of principles, goals, objectives, stages and factors of loan capital companies. Analyzed the main methods of forming loan capital
More informationBusiness Financing and Capital Market Reforms
PECC-SINCPEC International Conference Competitiveness Enhancement: Business Financing and Capital Market Reforms in China STUART H. LECKIE, O.B.E., J.P., F.I.A., F.S.A. CHAIRMAN, STIRLING FINANCE LIMITED
More informationHow To Understand The Concept Of Securitization
Asset Securitization 1 No securitization Mortgage borrowers Bank Investors 2 No securitization Consider a borrower that needs a bank loan to buy a house The bank lends the money in exchange of monthly
More informationSME Financing: From Market Failure to Network Externalities. Liu Fuzhong, Vice Director Strategy and International Relations Shenzhen Stock Exchange
SME Financing: From Market Failure to Network Externalities Liu Fuzhong, Vice Director Strategy and International Relations Shenzhen Stock Exchange Contents I. SMEs and Their Financing Obstacles II. Information
More informationQualified Energy Conservation Bonds (QECBs) Elise Avers, Clean Energy Fellow (DOER) & Rebecca Sullivan, First Vice President (MassDevelopment) Webinar
Helping Massachusetts Municipalities Create a Cleaner Energy Future COMMONWEALTH OF MASSACHUSETTS Deval L. Patrick, Governor Richard K. Sullivan, Jr., Secretary Mark Sylvia, Commissioner Qualified Energy
More informationDanish mortgage bonds provide attractive yields and low risk
JANUARY 2015 Danish mortgage bonds provide attractive yields and low risk New European Union legislation favours Danish mortgage bonds KEY CONCEPTS New legislation favours Danish mortgage bonds Attractive
More informationProduct Key Facts. PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund. 22 December 2014
Issuer: PineBridge Investments Ireland Limited Product Key Facts PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund 22 December 2014 This statement provides you with key information about
More informationInvesting in High Yield Bonds of Emerging Countries that Continue to Achieve High Growth
Press Release November 22, 2010 Investing in High Yield Bonds of Emerging Countries that Continue to Achieve High Growth Emerging High Yield Bond Fund, Accept Applications at Sumitomo Mitsui Banking Corporation
More informationThe issuance of Swiss Pfandbriefe a term protected by law - is governed by the Pfandbriefgesetz
3.25 SWITZERLAND By Jörg Schmid, Pfandbriefbank schweizerischer Hypothekarinstitute AG & Michael Bloch, Pfandbriefzentrale der schweizerischen Kantonalbanken AG I. FRAMEWORK The issuance of Swiss Pfandbriefe
More informationRegistered Investment Advisor Services
Registered Investment Advisor Services Table of Contents About Us... Withholding Tax Relief and Recovery... Registered Investment Advisors... Beneficial Owners... Endowments/Foundations... Pension Funds...
More informationFixed income benchmarks Time to think again?
February 2013 Fixed income benchmarks Time to think again? There are a number of drawbacks to the use of traditional fixed income benchmarks. As a consequence, some fixed income managers are reappraising
More informationOpportunity for US Multi-Family Offices to tackle Asia
Opportunity for US Multi-Family Offices to tackle Asia An opportunity is being presented in the market for sophisticated US model multi-family office platforms within the Asian wealth Diasporas. Globally,
More informationCash Management Group Solvency II and Money Market Funds
Cash Management Group Solvency II and Money Market Funds The opinions expressed are as of June 2012 and may change as subsequent conditions vary. Managing cash and short term investments is an essential
More informationThe Norwegian Government Pension Fund Global
The Norwegian Government Pension Fund Global l Tore Eriksen Paris 1 June 2012 1 Part I The Role of oil & gas in the Norwegian economy 2 Discovery of oil on December 23. 1969; the Ekofisk oil field Foto:
More informationInvestment Banking. Nature of operations
Investment Banking Nature of operations Raiffeisenbank s investment banking operations are directed towards local bond issuances and placement, loan syndications arrangement, and the provision of consulting
More informationInternational Money and Banking: 12. The Term Structure of Interest Rates
International Money and Banking: 12. The Term Structure of Interest Rates Karl Whelan School of Economics, UCD Spring 2015 Karl Whelan (UCD) Term Structure of Interest Rates Spring 2015 1 / 35 Beyond Interbank
More informationSukuk and its Growth across Major Islamic Financial Markets
Sukuk and its Growth across Major Islamic Financial Markets www.infosys.com/finacle Universal Banking Solution Systems Integration Consulting Business Process Outsourcing Sukuk and its growth across major
More informationWorld Economic Forum Insurance and Asset Management Council. Joachim Faber. Low Carbon Economy Finance Paper Q4 2011
World Economic Forum Insurance and Asset Management Council Joachim Faber Low Carbon Economy Finance Paper Q4 2011 Frankfurt / Munich, Oct 2011 Introduction The Low Carbon Economy and Finance by the Insurance
More informationDetailed Recommendations 8: Establish a Green Rating System
Detailed Recommendations 8: Establish a Green Rating System 8 This is a background paper to the report: Establishing China s Green Financial System published by the Research Bureau of the People s Bank
More informationSPECIAL REPORT. TD Economics. Green Bonds: Victory Bonds for the
SPECIAL REPORT TD Economics Green Bonds: Victory Bonds for the Environment Highlights Green bonds are a debt instrument issued to raise capital that is used exclusively to support projects with specific
More informationChina's Global Integration - Developments in China s Onshore RMB market
China's Global Integration - Developments in China s Onshore RMB market Thank you Martin for your kind words It is a pleasure to be here today.. I m grateful to be given the chance to share a platform
More informationPublic Policy and Innovation: Partnering with Capital Markets through Securitization. Antonio Baldaque da Silva November 2007
Public Policy and Innovation: Partnering with Capital Markets through Securitization Antonio Baldaque da Silva November 2007 Agenda 1. Motivation: Innovation and Public Policy 2. Traditional tools 3. Alternatives:
More informationEmerging Markets Local Currency Debt and Foreign Investors
Emerging Markets Local Currency Debt and Foreign Investors Recent Developments Daniela Klingebiel Pension & Endowments Departments Nov. 20, 2014 Outline Structural trends in emerging markets (EM) external
More informationFixed Income Review. Second Quarter 2015
Second Quarter 2015 As of June 30, 2015 Total Return Performance Calendar Year Performance Index MTD QTD YTD 2014 2013 2012 Barclays US Aggregate -1.1% -1.7% -0.1% 6.0% -2.0% 4.2% BAML US Agency Index
More informationTaiwan Life Insurance Market Report for First Half of 2013
Taiwan Life Insurance Market Report for First Half of 2013 I. Life Insurance Financial and Business Overview A. Business Statistics and Overview In the first half of 2013, Taiwan life insurance companies
More informationFinancial sector leadership on natural capital
Financial sector leadership on natural capital The Natural Capital Declaration A commitment by financial institutions to mainstream natural capital in financial products and in accounting, disclosure and
More informationGreen Bonds: Sustainable Impact Investors
Green Bonds: Sustainable Impact Investors Heike Reichelt Head of Investor Relations and New Products World Bank Treasury THE WORLD BANK TREASURY 1225 CONNECTICUT AVE NW WASHINGTON, DC 20433 USA http://treasury.worldbank.org/capitalmarkets
More informationFinancing models for Sustainable Consumption and Production businesses
Financing models for Sustainable Consumption and Production businesses Global Network Conference on Resource Efficient and Cleaner Production Thursday, 15 October 2015, 16:00-18:00, Davos, Switzerland
More informationDraft decision -/CP.15. Copenhagen Accord
UNITED NATIONS Distr. LIMITED FCCC/CP/2009/L.7 18 December 2009 Original : ENGLISH CONFERENCE OF THE PARTIES Fifteenth session Copenhagen, 7 18 December 2009 Agenda item 9 High-level segment Draft decision
More informationHMT Discussion paper on non-bank lending
17 February 2010 By e-mail to: non-banklending@hmtreasury.gsi.gov.uk Dear Sirs HMT Discussion paper on non-bank lending The IMA represents the UK-based investment management industry. Our members include
More informationInvestors Chronicle Roadshow 2011. Trading Bonds on the London Stock Exchange
Investors Chronicle Roadshow 2011 Trading Bonds on the London Stock Exchange Agenda How do bonds work? Risks associated with bonds Order book for Retail Bonds London Stock Exchange Website Tools 2 How
More informationThe Asset Management Working Group
Finance Initiative Innovative financing for sustainability The Asset Management Working Group What, why, who? Environmental and social issues count. Goldman Sachs Global Investment Research, February 2004.
More informationBond Financing for Renewable Energy
Bond Financing for Renewable Energy 21 July 2015 Energy Studies Institute, Singapore Thiam Hee Ng, Senior Economist Asian Development Bank Outline Introduction Why Bonds? Trends in Bond Issuance from the
More informationSRI bond funds are set to sail on the rising tide of Green and Social bonds
SRI bond funds are set to sail on the rising tide of Green and Social bonds Written 05/02/2014 Sustainable debt securities experienced spectacular growth in 2013. As the vehicles of highly specific social
More informationDeliverable Obligation Characteristics for North American Corporate Transaction Type
ISDA International Swaps and Derivatives Association, Inc. 360 Madison Avenue, 16th Floor New York, NY 10017 United States of America Telephone: 1 (212) 901-6000 Facsimile: 1 (212) 901-6001 email: isda@isda.org
More informationOverview of UK retirement market and its evolution
Overview of UK retirement market and its evolution 11 March 2013 Julian Webb Head of UK DC & Workplace Savings This material is for investment professionals only and should not be relied upon by private
More informationCREDIT RISK MANAGEMENT A GLOBAL FUND MANAGER'S PERSPETIVE
CREDIT RISK MANAGEMENT A GLOBAL FUND MANAGER'S PERSPETIVE Moody's Analytics Risk Practitioner Conference October 3 rd, 2011 Philippe Tremblay Senior director, Credit and liquidity risk management 1 01
More informationINVESTOR CONFERENCE CALL EUROPEAN STABILITY MECHANISM TUESDAY 25 TH SEPTEMBER 11AM
INVESTOR CONFERENCE CALL EUROPEAN STABILITY MECHANISM TUESDAY 25 TH SEPTEMBER 11AM Introduction by Klaus Regling First I d like to say that this is a good moment for our call. A number of important things
More informationCredit Default Swaps (CDS)
Introduction to Credit Default Swaps (CDS) CDS Market CDS provide investors with the ability to easily and efficiently short credit Shorting allows positions to be taken in forward credit risk ik CDS allow
More informationA Guide to Responsible Investing
A Guide to Responsible Investing Socially Responsible Investment, Impact Investing, Responsible Finance, ESG, CSR, Double-bottom Line, Triple-bottom Line. The responsible investing space is plagued by
More informationDevelopment of the South African Local Currency Bond Market
Development of the South African Local Currency Bond Market G-24 Technical Group Meeting Washington DC 21 and 22 March 2013 Dr D. Bradlow Head, International Economics Relations and Policy Department South
More informationA REGIONAL GATEWAY FOR RMB. Singapore
A REGIONAL GATEWAY FOR RMB Singapore GROWING INTERNATIONAL AND REGIONAL ROLE OF THE RMB Rising Potential for International use of RMB China accounts for more than 10% of global trade and investment flows
More informationPoland. Funds raised - Industry statistics - Incremental closings during year. Table of Contents. CREATING LASTING VALUE EVCA Yearbook 2011 I 269
CREATING LASTING VALUE EVCA Yearbook 2011 I 269 Funds raised - Industry statistics - Incremental closings during year Amounts in thousands Amount % Amount % Fund ownership type Independent funds raised
More informationCLOSING THE COVERAGE GAP ACCESS FOR ALL Johan Schreuder & John Green
ACCESS FOR ALL Johan Schreuder & John Green CONTEXT FOR A GAP FUND A Social Old Age Grant is available to South Africans older than the State Pension Age, now equalised at age 60. Employed South Africans
More informationGoals. Bonds: Fixed Income Securities. Two Parts. Bond Returns
Goals Bonds: Fixed Income Securities History Features and structure Bond ratings Economics 71a: Spring 2007 Mayo chapter 12 Lecture notes 4.3 Bond Returns Two Parts Interest and capital gains Stock comparison:
More informationSaving and Investing. Chapter 11 Section Main Menu
Saving and Investing How does investing contribute to the free enterprise system? How does the financial system bring together savers and borrowers? How do financial intermediaries link savers and borrowers?
More informationIslamic Finance in Africa
Islamic Finance in Africa Rundheersing Bheenick Governor Bank of Mauritius 2 nd Islamic Finance Conference Doha, 10 October 2011 1 Islamic Finance in Africa Contents The Global Islamic Finance Industry
More informationRigensis Bank AS Information on the Characteristics of Financial Instruments and the Risks Connected with Financial Instruments
Rigensis Bank AS Information on the Characteristics of Financial Instruments and the Risks Connected with Financial Instruments Contents 1. Risks connected with the type of financial instrument... 2 Credit
More informationECO 4368 Instructor: Saltuk Ozerturk. Bonds and Their Valuation
ECO 4368 Instructor: Saltuk Ozerturk Bonds and Their Valuation A bond is a long term contract under which a borrower (the issuer) agrees to make payments of interest and principal on speci c dates, to
More informationArticle 2014. Collateralized Loan Obligations. by Rob McDonough Chief Risk Officer, Angel Oak Capital Advisors, LLC
Article 2014 Collateralized Loan Obligations by Rob McDonough Chief Risk Officer, Angel Oak Capital Advisors, LLC Collateralized Loan Obligations Collateralized loan obligations ( CLOs ) are structured
More information