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Green Infrastructure Bank, green bonds and policy

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Green Infrastructure Bank, green bonds and policy

Over the past year in the UK there has been extensive public debate over the role a Green Infrastructure/Investment Bank and green bonds could play in catalysing investment in the low carbon economy. In May 2010, the Conservative-Liberal Democrat coalition government document identified the creation of the Green Investment Bank as a key political priority. E3G is publishing today a suite of four documents exploring these ideas in more detail.

‘Accelerating the Transition to a Low Carbon Economy: The case for a Green Infrastructure Bank’ was drafted earlier this year and formed the basis of E3G’s advocacy work before the UK’s General Election. It sets out the barriers to delivering the low carbon transition in time and at scale − and makes the case for an ambitious new institution to address these challenges. It then sets out a framework for thinking about how the bank should be set up, operate and identify priority projects to ensure it effectively manages the tension between delivering public good and acting as a commercial organisation without crowding out private capital.

‘The Sterling Bond Markets and Low Carbon or Green Bonds’ is a report to E3G written by Alex Veys, a former Bond Portfolio Manager at Fidelity Investments. This report answers the question about whether there is enough money available to finance the low carbon transition. It explains how the UK bond market operates, what investors are looking for when they buy bonds and developments in the green bond market to date including the lessons learned thus far. There are two short E3G briefings to accompany thing report. ‘Green Bonds: the missing piece of the jigsaw’ sets out the key ‘take home’ messages for policy makers interested in seeing the green bonds market develop. ‘Financing energy efficiency: Bringing together the Green Infrastructure Bank, green bonds and policy’ sets out how an ambitious UK-wide energy efficiency programme could be financed and delivered.

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