Kermit the frog
Within a year, there will be enough issuers of green bonds for an index to be created, according to Christopher Flensborg of SEB, the Swedish bank that has partnered with the World Bank to pioneer these instruments.
Last year, the World Bank, with its increasingly rare triple A rating, issued around $370m of debt, the proceeds of which are to be used only for projects cutting carbon emissions in developing countries. Already this year, a second tranche has been issued to a single investor (the Treasury of the State of California) and SEB is now looking at a third round.
