One Day Conference
«Green Financing opportunities in Greece and SE Europe»
Wednesday, April 5, 2023, 09:00-14:00
Athens Club, Elev. Venizelou Ave. 11, Athens
Organized by the Institute of Energy for SE Europe (IENE) in partnership with the
Climate Bonds Initiative (CBI) and under the auspices of the British Embassy in Athens
As more and more companies are incorporating sustainability criteria into their business strategy in order to effectively manage global challenges and risks and ensure long-term prosperity, there is growing interest in alternative financing methods. Disclosure of non-financial information ESG has become a particularly important tool, as transparency in relation to these indicators makes businesses more attractive to investors, acts as a risk aversion measure, facilitates companies access to finance and makes them more competitive. Complementing the ESG strategy and criteria for sustainable financing, “Green Bonds” have emerged of late as a smart tool for attracting funding for specific projects and clean energy technology applications.
In line with the European Union's energy transition targets for carbon neutrality by 2050, and in line with the 17 United Nations Global Sustainable Development Goals (SDGs), businesses set environmental, social and governance targets (ESG) for reducing their environmental and social footprint in the coming decades, thus contributing to the above European and global goals. In addition, the Paris Agreement on climate change makes it clear that financial flows must be consistent with a pathway towards low greenhouse gas emissions and climate-resilient development. In this context, a key tool for financing investments that have a positive impact on the environment is Green Bonds. The demand for this type of financing product is constantly increasing as investors integrate more and more sustainability criteria into their investment decisions.
The Green Bond market kicked off in 2007 with the AAA-rated issuance from multilateral institutions European Investment Bank (EIB) and World Bank. The wider bond market started to react after the first USD1bn green bond sold within an hour of issue by IFC in March 2013. The following November there was a turning point in the market as the first corporate green bond issued by Vasakronan, a Swedish property company. Large corporate issuers include SNCF, Berlin Hyp, Apple, Engie, ICBC, and Credit Agricole.
The green bond market has since seen strong growth, with the market really starting to take off in 2014 when USD37bn was issued. In 2018, issuance reached USD167.3bn, setting yet another record. Cumulative Green Bond issuance to date amounts to US$ 2.203 trillion, while 2023 issuance until the end of January stood at US$ 25.3 bn.
The Climate Bonds Initiative (CBI) is an international organisation working to mobilise global capital for climate action. CBI achieves this through the development of the Climate Bond Standard and Certification Scheme as well as through Policy Engagement and Market Intelligence work. CBI empowers its partner organizations with the necessary tools and knowledge to navigate, influence and instigate change.
The conference aims to inform on the financing of green investments through the issuance of green bonds and the characteristics of such bonds, and also to explore opportunities for the issuance of green bonds to fund low carbon projects in Greece and SE Europe. Top experts and senior market executives from Greece and abroad have been invited to participate in the conference. Having placed high on its agenda the promotion of Sustainable Financing through Green Bonds as well as Responsible Corporate Governance, the Institute of Energy for SE Europe (IENE), in partnership with the UK's Climate Bond Initiative (CBI) and under the auspices of the British Embassy in Athens, is organizing a morning conference to explore «Green financing opportunities in Greece and SE Europe» with the help of leading experts and senior market executives from Greece and abroad.
The conference will take place at the prestigious Athens Club on Wednesday, April 5, 2023, and will run from 9.00 to 14.00 followed by lunch.