Climate Bonds Initiative has created Marine Technical Working Group to develop new assessment criteria for low carbon investments in the marine sector.
The Marine Technical Working Group brings together international marine scientists, industry specialists and academics with expertise in marine science, including marine energy and resources, infrastructure, sustainable fisheries, aquaculture, coastal zones, and ecosystems.
The newly formed group will meet on a monthly basis to develop criteria that low carbon marine-related investments must meet if they are to be certified under the Climate Bonds Standard.
These criteria will form the basis of a draft standard that will be available for public comment. Once completed and released, the marine standard will allow certification of marine-related investments under the Climate Bonds Standard.
The Climate Bonds Standard is a general screening tool with sector specific categories that assists investors and governments to easily prioritize climate and green bonds with confidence that the funds are being used to deliver climate change solutions, according to Climate Bonds.
Sean Kidney , CEO of Climate Bonds Initiative, said: “Coastal, port and marine infrastructure, marine energy and sustainable ocean supply chains all require active investor support. Standards for blue green bonds will help scale up investment in assets and projects that make a real difference. The formation of this Marine Technical Working Group represents another stage in developing rigorous science based foundations for climate finance via bonds and related debt instruments.”
The Climate Bonds Initiative is an investor-focused non-profit organization, promoting large-scale investment in the low-carbon economy.