Eunomia Chairman Dominic Hogg is part of Climate Bonds Initiative’s Waste Management Technical Working Group (TWG). The TWG was launched in January 2017 and is made up 19 expert representatives. It aims to develop sector-specific criteria which will stimulate investment into low-carbon waste management activities and infrastructure through green bond issues.
The TWG representatives are from 16 organisations including universities, NGOs, consultancies, and industry associations, with widespread and direct expertise on global waste management.
Over the next 6-12 months, the TWG will develop criteria that can be used to screen potential waste management assets and projects, identifying those that are best practice in addressing carbon and climate risks, and which align with the aspirations of the Paris climate change agreement.
The work of the TWG in developing the criteria is expected to be pivotal in enabling governments, businesses, and investors to assess the green credentials of projects and assets in the waste sector. Development of science-based criteria is intended to facilitate capital flows to innovative, effective waste technologies and infrastructure that accelerates the transition to a low-carbon and climate-resilient economy.
As the criteria are being developed by the TWG, it will incorporate feedback from an Industry Working Group (IWG) consisting of bond issuers from the waste sector. Once developed, the criteria will be released for public consultation and finally submitted to the independent Climate Bonds Standards Board for approval.
Dominic Hogg said:
“The Climate Bonds Initiative plays an important role in setting criteria for certification of green bond issues. Those looking to invest their money in green projects need to have confidence that the projects they are supporting are contributing to improved environmental outcomes. My hope for the group is that it can set clear guidelines that help issuers and investors to identify and support projects that clearly contribute to reducing climate change emissions.”
Eunomia recently published a report for the European Commission called a ‘Study on the Potential of Green Bond Finance’. This report explains the potential and functioning of green markets. It identifies bottlenecks and measures to overcome them, so green bonds can fulfill their potential. The company has also worked extensively on issues related to climate change and waste management, including a major piece for Zero Waste Europe.
More details on the TWG and a list of the other members is available here.