🔎 Green bonds; Climate change; financing for development
Bloomberg New Energy Finance published its most recent analysis and revealed that green bonds issuance is set to reach $134.9 billion by the end of 2017, a new record so far.
So far, green bonds issuance has been $96 billion and another $39 billion is anticipated for the next months.
If the almost $135 billion projection comes true, it will be an increase of 36 percent in relation to 2016, which saw $99.1 billion of green bonds in total.
In 2015 $50 billion of green bonds were issued, in 2014 $36.6 billion, and in 2013 $14.8 billion.
Southern Company’s subsidiary Southern Power Co is said to be largest US green bond issuer to date, since it has issued over $3 billion worth of green bonds destined for investment in clean energy since 2015.
Michael Sheren, Adviser to the Bank of England and co-Chair of 20’s Green Finance Study Group had commented earlier this year that financial innovation in creating new types of green bond will keep demand growing.
“There’s about $100 trillion of institutional money in the world, and less than 1 percent is invested in anything green”.
He had added: “We have to make it palatable to institutional investors. Green bonds are the best instrument to do this”.
As more and more institutions are issuing green bonds, they have begun coming in different shades to help investors track exactly how green the securities really are.
Dark green bonds adhere to the strictest environmental criteria, while the lighter green shade is being used to fund a broader array of projects.
Published on Climate Action Programme on September 26, 2017
Human rights and environment
In recent years, the recognition of the links between human rights and the environment has greatly increased. The number and scope of international and domestic laws, judicial decisions, and academic studies on the relationship between human rights and the environment have grown rapidly.
Many States now incorporate a right to a healthy environment in their constitutions. Many questions about the relationship of human rights and the environment remain unresolved, however, and require further examination.
As a result, in March 2012 the Human Rights Council decided to establish a mandate on human rights and the environment, which will (among other tasks) study the human rights obligations relating to the enjoyment of a safe, clean, healthy and sustainable environment, and promote best practices relating to the use of human rights in environmental policymaking.
Mr. John Knox was appointed in August 2012 to a three-year term as the first Independent Expert on human rights obligations relating to the enjoyment of a safe, clean, healthy and sustainable environment. His mandate was further extended in March 2015 for another three years as a Special Rapporteur.
The resolution 16/11 adopted by the Human Rights Council on 12th of April 2011 entitled “Human Rights and the environment” requested the Office of the High Commissioner “in consultation with and taking into account the views of States Members of the United Nations, relevant international organizations and intergovernmental bodies, including the United Nations Environment Programme and relevant multilateral environmental agreements, special procedures, treaty bodies and other stakeholders, to conduct, within existing resources, a detailed analytical study on the relationship between human rights and the environment” (para.1).
See also the Special Rapporteur on the implications for human rights of the environmentally sound management and disposal of hazardous substances and wastes
Human rights and climate change
In its 5th Assessment Report (2014), the Intergovernmental Panel on Climate Change (IPCC) unequivocally confirmed that climate change is real and that human-made greenhouse gas emissions are its primary cause. The report identified the increasing frequency of extreme weather events and natural disasters, rising sea-levels, floods, heat waves, droughts, desertification, water shortages, and the spread of tropical and vector-borne diseases as some of the adverse impacts of climate change. These phenomena directly and indirectly threaten the full and effective enjoyment of a range of human rights by people throughout the world, including the rights to life, water and sanitation, food, health, housing, self-determination, culture and development.