Climate protection with green bonds?

Is to save the world? Thousands of young people demonstrate every Friday under the Hashtag "#Friday forfuture" for climate and the environment. Also in the financial markets, Eco is in the Trend. Green bonds are booming.

By Notker Blechner, boerse.ARD.de

What is managed environmental and climate activists, has managed the 16-year-old Swedish student, Greta Thunberg: it has initiated a global movement for climate protection. Last Friday, hundreds of thousands of children and young people moved in more than 120 countries on the road to stop global warming. "Make the World Greta again", they cry. Next Saturday, the Swedish environmental campaigner receives the "Golden camera" in terms of climate protection.

"We must lose no more time!"

The young people are calling for a more resolute fight against climate change. "We must waste no more time, to save the world," says the 18-year-old American Xiuhtezcatl Martinez, calling 2015 the UN States in a rousing speech before the General Assembly for rapid Action and with the Senckenberg prize was awarded.

"Friday for Future"Demonstration with Greta Thunberg in Hamburg

The new climate protection movement, with Greta, Martinez & Co increases the pressure on the government to do more than before. Although the States have agreed in the Paris climate agreement in 2015 to limit the warming of the earth's atmosphere to well below two degrees. But that is not enough, Greta & Co. You want to exit a faster coal.

The enhanced security measures in the climate policy, reflected also in the financial markets. The Trend towards sustainable Investments has grown strongly in recent years - with the public effective exit of banks and insurance companies from the financing of coal and Oil. Investors put more money in the green products - sustainability Fund to Green Bonds.

the volume of green bonds has asked tenfold

especially "green bonds". The volume of Green Bonds has exceeded for 2015, more than tenfold and now, for the first time the mark of 500 billion dollars. "The Boom goes on", writes the rating Agency Scope.

Global emission volume of Green Bonds

in addition to the USA have particularly spent in China and France green bonds. Germany is still lagging behind. Only the Kfw, and individual government bonds have issued Green Bonds.

pioneer of the European investment Bank, who spent 2007 as the first green bonds. After that, it was mainly funding institutions such as the KfW, the put on the Instrument. Chinese banks and the French nuclear group EDF, with the mix in the big time.

Further course information, to France Green Bond 2039

for More course information to NRW.Bank Green Bond 2015

for More course work information to the KfW Green Bond AUD 2015/2020

funds go to Eco-projects

Green Bonds are like conventional bonds. The only difference is that The Issuer put the money in Eco-projects: for example, in the Development of Wind or solar energy, in reforestation projects in the rain forest or in energy efficiency measures.

However, the criteria for Green Bonds are still relatively unclear. According to the Südwind-Institute, there is a lack of full transparency about what projects will be financed with created money. So it could happen that the Green Bonds in addition to renewable energy, the mining of coal or even nuclear power plants would be supported. Many Eco-purists can't understand why EDF as a nuclear power plant operator, several Eco-bonds may be issued.

criteria are still quite vague

in 2014, have agreed to several dozen issuers in the Green Bond Principles. You rules, what counts as a green bond, which may be funded and how the funds are to be used. The Emission should be accompanied by independent third parties. So rating agencies such as Oekom or Sustainalytics, or research institutes such as Cicero, the Green Bonds analyze sustainability and give second opinions.

Deutsche Börse comes to investors who want to invest in environment-related projects. The stock exchange operator has created in November 2018, a new trading segment for "green bonds". Therein 150 bonds are represented, with those of development banks, companies, cities, and States to climate and environmental protection projects. In order to carry the increasing global demand for sustainable investments account, it said.

Alternative Green Bond Fund

Whom individual bonds are unsafe, it can also put on wider Green Bond Fund. They invest in more green bonds and lowering the risks. However, higher fees and traps here when you purchase the funds through the house Bank to a sales charge. In Germany, there are now 23 Green Bond funds, which come together on a volume of 2.7 billion euros. The provider of the new Fund, among other things, SEB, Raiffeisen Capital Management, Natixis, Axa Investment Managers, Allianz Global Investors and the eco-Bank. The largest Fund of the NN Euro Green Bond with a volume of 569 million euros.

Further course information, to Raiffeisen Green bond Fund

Further course information, to SEB Green Bonds Fund

the green bonds, deadlines and, of course, a modest niche. They make up just 0.2 per cent of the global bond market. Wants to change the EU-Commission. She urges investors to invest more in sustainable products, and is considering the introduction of an Eco-label.

contribution to the climate protection targets of the EU?

The market for green bonds could play a Central role in the closure of large financing gap in order to reach urgent goals of climate protection, writes Rhys Petheram, Co-Manager of the Fund of the Jupiter Global Ecology Diversified Fund. In the EU, around 180 billion euros per year in additional investments for energy efficiency and renewable energies are needed, so that by 2030, the CO2-emissions by 40 percent can be reduced.

the question of whether good Conscience, and return to combine. Still there are no conclusive studies. Providers such as Axa points out, however, that there was no yield difference between green and conventional bonds. "Green Bonds are more attractive than other bonds," says Oliver Vietti, Fund Manager and Eco-bonds expert at Axa. Because they "allow for more transparency and an Extra Impact in terms of energy transition".

source: boerse.ard.de

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