Only a few days before leaving the White House, President Barack Obama delivered $500 million to the United Nations’ Green Climate Fund, to help developing countries combat climate change.
Less than a month after taking office Donald Trump’s administration made it clear, via a statement posted on the white house website, which echoed the newly elected president’s campaign pledges, that a change of direction was due, calling efforts harmful and unnecessary.
The statement: America First Energy Plan read:
“President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action Plan and the Waters of the U.S. rule. Lifting these restrictions will greatly help American workers, increasing wages by more than $30 billion over the next 7 years.”
It is yet to be revealed whether a Trump presidency may push climate change down the policy agenda lowering the momentum, discouraging issuance. Yet despite uncertainty, investor’s desire for green products remains.
Global Green Market Doubles
In 2016, the green bond market grew by more than $80 billion – a record year since its launch in 2007 — to $170 billion, according to Climate Bonds Initiative (CBI), a London-based non-profit that certifies green credentials of bonds.
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As of the 3rd quarter 2016, Thomson Reuters and the Climate Bonds Initiative collaboratively resourced Green Bonds underwriter league tables, combining all global green certified underwritten bonds and US Municipals which comply with the Green Bonds principles.
According to figures compiled by Thomson Reuters and The Climate Bonds Initiative, the Green Bonds sector recorded continued market growth in 2016, with global proceeds up 104.9% over 2015.
Key Facts & Figures
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