3 July 2017
Jointly convened by the Climate Bonds Initiative and the European Covered Bond Council (ECBC) with the support of the UNEP Inquiry (UNEP –FI) the European Green Securities Steering Committee (EGSSC) held its inaugural meeting on June 29, 2017.
The Committee is an industry-wide group of members newly formed to promote the development of the green securities market in Europe, including covered, asset-backed and senior unsecured bonds.
Foundation participants encompass twenty two (22) European commercial and development banks, investors, rating agencies, NGOs and industry associations including ABN AMRO, Clifford Chance, Glennmont Partners and Obvion.
The 29 June meeting of the Committee set out the group’s priorities and agenda for the next 12 months.
The Committee’s priorities will be to:
Luca Bertalot, Secretary-General, European Covered Bonds Council:
“Coordination on the ‘green’ debate at the European level is essential; this diverse group will facilitate engagement with the European institutions to grow the market for green covered, asset-backed and senior unsecured bonds.”
Nick Robins, Co-Director, UNEP–FI:
“This new initiative is perfectly timed – responding to the Europe’s growing policy and market interest in expanding green securities. Crucially, it will help to build trust and confidence in the potential of asset-backed securities for financing a sustainable economy.”
Sean Kidney, CEO, Climate Bonds Initiative:
“We have only a short time to achieve our climate and energy targets. The European Green Securities Steering Committee offers an opportunity to maximise the origination of green assets and influence regulation at the European level.”
(Download the PDF version for additional details and background information)