'Extraordinary Investment' in Green Bonds Called For by Bank of England Governor

摘要

The global market for climate-friendly bonds must become mainstream to help raise the estimated $4 trillion a year that is needed to support green infrastructure projects through 2031, Bank of England Governor Mark Carney said. "There needs to be extraordinary investment, and that cannot be funded in a niche way," Carney, who is also chairman of the Financial Stability Board, said at a green finance conference March 23 in London. The green bond market is expected to reach $50 billion this year, according to Bloomberg New Energy Finance. That is up 4 percent from last year after it quadrupled from 2012 to 2014. Carney said green bonds, which finance clean energy and climate adaptation projects, accounted for 1 percent of global issuance.