Marine bonds draft criteria up for public review

The Climate Bonds Initiative has opened a public consultation on the draft Marine Renewable Energy Criteria for marine related-investments under the Climate Bonds Standard.

The draft criteria was prepared by a multi-sectoral team of experts of the Technical Working Group, established last year to develop new assessment criteria for low carbon investments in the marine sector.

Once completed and released, the criteria can be used by green bond issuers who are seeking Climate Bonds Certification, which is a tool to assist investors and issuers in prioritizing investments that contribute to addressing climate change, according to World Ocean Council (WOC).

The public consultation runs until July 12, 2017, according to the Climate Bonds Initiative.

WOC is a member of the Industry Working Group (IWG) for Marine Renewable Energy Investments, consisting of organizations from the marine, investor and verifier community.

In addition to the WOC, the IWG includes Black Rock, Credit Suisse, Althelia, Danske Bank, Trucost part of S&P Dow Jones Indices, DNV GL, World Bank, Carbon Trust, Tidal Lagoon Power, Ocean Renewable Power Company, Scotrenewables Tidal Power, Kestrel, and NSF.

WOC also informed that the WOC Ocean Investment Platform is being developed to provide a global structure and process for advancing investment in responsible ocean development, including through the use of tools such as the Marine Renewable Energy Certification of the Climate Bonds Initiative.

The Climate Bonds Initiative is an investor-focused non-profit organization, promoting large-scale investment in the low-carbon economy.