Institutional investors and development banks welcome at new green infra coalition

Global institutional investors and development banks are being asked to join the new green infrastructure investment body that was set up at the COP21 climate change talks in Paris earlier this month.

Any new members will be joining heavyweights such as Deutsche Bank, the European Investment Bank and Legal & General Investment Management (see member list below).

The Green Infrastructure Investment Coalition (GIIC) was formed by the Climate Bonds Initiative, the Principles for Responsible Investment, UNEP Inquiry and the International Cooperative and Mutual Insurance Federation (ICMIF).

It is now inviting
institutional investors and development banks to join the coalition in 2016 to promote the large scale financing of green infrastructure

The GIIC aims to support the financing of a rapid transition to a low-carbon and climate resilient economy as envisaged by the Paris Agreement and the associated country-level climate plans, the Intended Nationally Determined Contributions or INDCs.

The coalition aims to bring together “key actors” in the financial system via investor-government dialogues. It will examine barriers to capital flows, identify forward infrastructure pipelines and facilitate greater capital market participation in green infrastructure development and financing. “Member organisations will contribute to policy development, facilitation and support of coalition events and activities designed to advance GIIC goals,” they say.Separately the Climate Bonds Initiative, the industry advocacy group, has welcomed an announcement by the People’s Bank of China (PBoC) of new guidance on green bond issuance in China’s inter-bank bond market.

And the initiative has also released the Climate Bonds Standard V2.0, the latest version of its overall standard that helps people to assess the environmental integrity of bonds claiming to be green.

Current GIIC members include:
• Alliance Bernstein
• Ceres
• Deutsche Bank
• European Investment Bank
• Federation of Indian Chambers of Commerce and Industry (FICCI)
• IDBI Bank (Indian development bank)
• India Export-Import Bank
• National Institute of Public Finance & Policy India
• Legal & General Investment Management
• PAX World Management
• Mirova
• Regions20 Coalition
• Institutional Investor Group on Climate Change (Europe)
• Investor Group on Climate Change (Australasia)