Climate Bonds Launches Waste Technical Working Group

Climate-Bonds-Logo 2The Climate Bonds Initiative has announced the formation of a new Waste Management Technical Working Group (TWG) to develop new sector criteria that aims to stimulate investment into low-carbon waste management activities and infrastructure.

The Waste Management TWG is the first group to be convened in 2017, as Climate Bonds expands the sectors covered by its international Climate Bonds Standard and Certification scheme.

The new TWG convenes 19 expert representatives from 16 organisations including universities, NGOs, consultancies, and industry associations, with widespread and direct expertise on global waste management.

Over the next 6-12 months, the TWG will develop science-based criteria that can be used to screen potential waste management assets and projects, identifying those that are best practice in addressing carbon and climate risks and align with the targets of the Paris climate change agreement.

“Our work will provide the standards against which the climate change credentials of investments can be judged fairly and objectively, giving investors that certainty and therefore increase confidence and future investment in the green bond market to help address climate change.”

The work of the TWG in developing the criteria will be pivotal in enabling governments, businesses, and investors to assess the green credentials of projects and assets in the waste sector.

Development of a science-based criteria is intended to facilitate capital flows to innovative, effective waste technologies and infrastructure that accelerates the transition to a low-carbon and climate-resilient economy.

As the criteria are being developed by the TWG, it will incorporate feedback from an Industry Working Group (IWG) consisting of bond issuers from the waste sector, which Climate Bonds expects to launch shortly. Once developed, the criteria will be released for public consultation and finally submitted to the independent Climate Bonds Standards Board for approval.

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Who’s on the TWG – click to expland

Terry Coleman, TWG lead specialist and consultant, Resource and Waste Solutions: “Climate change is probably the biggest environmental and economic challenge we will face this century, yet governments seem almost incapable of concerted action and business must step up to fill the gap and take the lead.”

“However, addressing climate change needs a huge investment to meet this challenge and investors want to know that their money is helping provide the infrastructure to mitigate or adapt to climate change in a meaningful way.”

“Our work will provide the standards against which the climate change credentials of investments can be judged fairly and objectively, giving investors that certainty and therefore increase confidence and future investment in the green bond market to help address climate change.”

Gary Crawford, TWG Member and Vice President of International Affairs, Veolia and Chair of the International Solid Waste Association Working Group on Climate Change & Waste Management: “A major barrier for waste and resource management project development, especially in developing countries, has been establishing bankable projects and gaining access to financing.”

“The development of specific criteria for climate bonds addressing waste and resource management within the Climate Bonds Standard by the recently formed Technical Working Group will boost investor confidence and provide a new source of green financing that will help to scale up these much-needed projects around the world.”


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