Green bonds raise funds for new and existing projects which deliver environmental benefits, and a more sustainable economy. ‘Green’ can include renewable energy, sustainable resource use, conservation, clean transportation and adaptation to climate change.
There has been an ever increasing call from investors for greater transparency, disclosure and standardisation of Green Bonds, to ensure bond proceeds are correctly used and requirements of end investors are met. But at the same time, there is a concern that too onerous a level of requirements will deter investors. A balanced approach is required.
To achieve this balance, PwC has been developing some guidance that aligns with the Green Bond Principles and the Climate Bonds Initiative's standards with a view to encouraging a standardised approach. We will be sharing our views on where we think transparency and reporting could be improved, and would like to hear from you what information and assurance will enable you to invest with confidence, and whether such guidance could benefit the market, either as a stand-along document or to be merged into the Green Bond Principles and CBI standards respectively.
Determine the approach
Our Sustainability Advisory team can provide expert input to the creation and development of your Green Bond, ensuring that it fits with your overall sustainability strategy, help you define the objectives for the bond strategy, and ensure it meets the expectations of key stakeholders.
Assess the impact
Our experienced Environmental Due Diligence team can help you develop an appropriate framework to ensure the underlying projects meet Green Bond standards and enable you to assess and report the impacts of your green projects post-investment.
Contact Domenico del Re to talk about this stage of the journey.
Connect you to the right investors
We know the investors interested in investing in ‘green’, including pension funds, retail investment managers and insurance companies.
We can help you develop a compelling narrative for this audience, who have money earmarked for environmental aims, but are waiting for the right issues.
Support you in navigating credit rating agencies’ requirements
Our ratings Advisory Experts, together with our Sustainability Advisory team, can ensure that the green projects you select do not jeopardise your overall financial objectives.
Contact Sarah Strang to talk about this stage of the journey.
Assurance
Our Sustainability Assurance team has deep expertise in providing assurance over systems, process and controls, and key performance metrics.
We can provide you with ad hoc or recurring assurance that will provide comfort to you, your stakeholders and the market over the legitimacy and success of your Green Bond issuance.
Contact Atul Patel to talk about this stage of the journey.
Working with the Climate Bonds Initiative (“CBI”) Working Group, helping to bring together verifiers active in the green bonds market with the aim of developing an appropriate reporting and assurance standard to drive consistency in the market. We hosted the first meeting in London in April 2015.
Provided assurance over the statement of allocation of the bank’s first Environmental, Social and Governance (“ESG”) Bond, providing investors with comfort that their funds have been allocated to eligible projects. Assurance will be provided on a quarterly basis for the lifetime of the bond.
The market-led, science-based Taskforce on Nature-related Financial Disclosures framework will enable companies and financial institutions to integrate nature into decision making.
Helping organisations create value by defining and meeting robust ESG goals, delivering net zero transformation and complying with sustainability reporting requirements
Few companies are fully prepared for CSRD sustainability reporting and assurance rules.
Five priorities for Finance teams to help turn their organisation’s ESG ambitions into action through sustainability reporting.
