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Freddie Mac issued a USD 435 million green CMBS on June 28, 2019, to support the Multifamily Green Advantage suite of loan offerings. The proceeds target building improvements such as LED lighting, insulation upgrades, and water-efficient fixtures. Loans from 2019 onwards must meet a 30% savings reduction threshold and a 15% energy efficiency requirement. Reporting on the proceeds is conducted monthly via the master servicer and trustee, with annual public performance reports provided by Freddie Mac.

Vigeo Eiris performed a pre-issuance verification of Société Générale SFH's 2019 Green Covered Bond, concluding that the bond's framework and nominated projects align with the Climate Bonds Standard version 2.1, specifically for low carbon residential buildings in France.

The Bioenergy Criteria provide a framework for certifying use-of-proceeds instruments, physical assets, and bioenergy companies. Certification requires meeting specific life-cycle greenhouse gas (GHG) emission thresholds that decline over time toward a 'close to zero' target by 2050. It also mandates that biomass feedstocks meet sustainability requirements, often verified through pre-accepted certification schemes, and that facilities implement comprehensive adaptation and resilience plans to manage physical climate risks.

DNV GL has verified that Meidensha's proposed Green Bonds, intended to fund mass-production facilities for electric vehicle parts, align with the Climate Bonds Standard v2.1 and other international green bond frameworks. The portfolio includes three projects: Nagoya Works, Kofu Meidensha Electric Mfg. Co., Ltd., and Numazu Works, with a total bond amount of 6 billion JPY and a maturity of 5 years. The verification confirms that the projects are designed to reduce CO2 emissions and contribute to UN SDGs 7 and 13.

The German green bond market reached a cumulative emission volume of 33.6 billion EUR by May 2019, ranking fourth globally. The market is dominated by financial institutions and development banks, with clean energy and low-carbon buildings as the primary sectors for funding. The report highlights a high rate of external verification and reporting, while noting significant potential for growth among fully climate-aligned companies, particularly in the transport sector via Deutsche Bahn.

As of May 2019, Germany's cumulative green bond issuance reached EUR33.6bn, with clean energy and low-carbon buildings as the primary sectors for proceeds. The market is dominated by financial corporates and development banks, notably KfW, with a high prevalence of external reviews and post-issuance reporting. While sovereign green bonds have not yet been issued, the German government is exploring this possibility for 2020. The report also identifies a significant opportunity for growth among climate-aligned issuers, particularly in the transport sector via Deutsche Bahn.

The briefing argues that while private sector financing is often promoted to bridge Africa's infrastructure deficit, it carries significant risks including higher costs, a lack of development mandates, and extreme risk aversion. It suggests that public funds should be strategically targeted toward social infrastructure and project preparation where private interest is low, while emphasizing the need for capacity building to prevent exploitation and improve project quality.

Sustainalytics concludes that the Assicurazioni Generali Green Bond Framework is credible, impactful, and aligns with the Green Bond Principles 2018. The framework targets six eligible categories: green buildings, renewable energy, energy efficiency, clean transportation, sustainable water management, and recycling, re-use & waste management. Generali has established a Green Bond Committee to oversee asset selection and commits to annual reporting on both allocation and impact. The report also notes Generali's broader sustainability targets, including increasing green sector investments by EUR 3.5 billion by 2020 and reducing internal GHG emissions by 20% by 2020.

Vigeo Eiris conducted a limited assurance procedure on the Republic of Chile's 2019 first Green Bond, concluding that it conforms in all material respects to the Climate Bonds Standard (CBS) version 2.1. The bond's proceeds are intended for 14 eligible green expenditures across solar energy, low carbon land transport, green buildings, and water management. The verification confirmed the existence of a documented decision-making process led by a Green Bond Committee and verified that the nominated projects meet specific sector criteria, such as a 30% carbon reduction target for buildings and a limit of 15% non-renewable electricity for solar projects. The report also validates the internal processes for tracking proceeds and the commitment to post-issuance compliance reviews.

The report analyzes 34 benchmark-sized green bonds issued between July and December 2018. It finds that EUR green bonds generally achieved higher oversubscription and better secondary market performance than vanilla equivalents, while USD green bonds showed more muted demand. Only two bonds exhibited a 'greenium' (pricing inside their yield curve). The report also highlights China as the largest emerging market source of green bonds and explores the potential for green bonds to provide downside risk protection during market volatility.

In Q1 2019, global green bond issuance reached USD 47.9 billion, a 42% increase over Q1 2018. The market was driven by non-financial corporates, particularly in the energy sector, and dominated by developed markets in the USA, France, and Canada. Energy, buildings, and transport accounted for 81% of the use of proceeds. The report also highlights that while post-issuance reporting is common among larger issuers and those with external reviews, there is a lack of consistency in the metrics used to report environmental impacts.

Vigeo Eiris conducted a pre-issuance verification of AES Tietê Energia's 2019 Green Bond, confirming that the proceeds intended for the Guaimbé and AGV solar power plants in Brazil meet the Climate Bonds Standard version 2.1 and Solar Sector Criteria version 2.0. The bond, with anticipated proceeds up to BRL 820 million, aims to finance projects with a total installed capacity of 225 MW and an expected annual electricity generation of 480 GWh. The verification found that the projects are eligible under the 'Solar' classification of the Climate Bonds Taxonomy and that the issuer has established appropriate internal processes for tracking proceeds and managing unallocated funds.

Carbon Trust Assurance Limited verified that Nedbank Limited's framework for its first green bond conforms to the Climate Bonds Standard V2.1. The bond intends to finance a portfolio of wind and solar energy projects in South Africa awarded preferred bidder status through the Renewable Energy Independent Power Producer Procurement Programme (REIPPP). The verifier found that Nedbank has established appropriate internal processes for project selection, tracking of proceeds, and management of unallocated funds, with a commitment to annual reporting and post-issuance verification.

The document discusses the necessity of 'taxonomies'—systematic classifications of green assets—to prevent greenwashing and provide clear guidance for issuers and investors. It highlights the transition from voluntary international guidelines, such as the Green Bond Principles, to more comprehensive regulatory frameworks, most notably the EU Taxonomy for Sustainable Finance. The report also details the development of the ISO 14030 international standard and provides examples of regional guidelines in ASEAN, China, and other markets.

The report argues that wealth and wellbeing depend on natural capital—the stock of renewable and non-renewable resources that provide essential ecosystem services. It highlights that natural capital can account for 30% to 50% of national wealth in various countries, yet traditional GDP measures fail to capture this value. The document outlines how governments can generate societal returns (e.g., poverty reduction and public health), economic returns (e.g., business resilience and green infrastructure), and environmental returns (e.g., ecological resilience). To scale these benefits, the report proposes twelve specific levers for government action, ranging from implementing UN-SEEA accounting frameworks and creating public-private partnerships to mainstreaming natural capital into macro indicators and implementing mandatory non-financial disclosures.

The Japanese green bond market reached a cumulative issuance of 9.7 billion USD by 2018, ranking 10th globally. The market is primarily driven by financial institutions and large corporations, with a strong concentration in the building and energy sectors. While the public sector remains relatively inactive, the report identifies significant opportunities for expansion in low-carbon housing, sustainable transport, and resilient infrastructure to support Japan's Nationally Determined Contributions (NDC).

The document reports on the growth of sovereign green bond issuance in 2018, noting that sovereign issuance reached 10.5% of the green bond market share. It details specific issuances from countries like France, Indonesia, and the Seychelles, and outlines the development of the Green Bond Market Development Toolkit for emerging markets. Additionally, it describes the EU's progress toward a sustainable finance taxonomy and the efforts of central banks, such as the Bank of England and De Nederlandsche Bank, to integrate climate risk into financial supervision and stress testing.

The Hong Kong green bond market experienced significant growth in 2018, driven by government incentives and private sector activity. While local entities issued USD 2.3bn in 2018, Hong Kong also serves as a major platform for non-local issuers, particularly from mainland China, with total issuance reaching USD 11bn according to HKMA data. The market is characterized by a high prevalence of external reviews and a concentration of proceeds in low-carbon buildings, water, and renewable energy.

Japan's green bond market, the 12th largest globally, is primarily driven by financial and non-financial corporate issuers, with a strong focus on buildings and energy projects. While the market has seen significant growth, particularly between 2016 and 2017, the report identifies substantial untapped potential in the public sector, residential property, and the manufacturing industry to help Japan meet its 2030 and 2050 greenhouse gas reduction targets.

The Green Economy Coalition (GEC) convened a global meeting in Cape Town from January 8-10, 2019, bringing together over 130 participants to address the question of how everyone can get a stake in the green economy. The event resulted in five core findings, a set of policy recommendations for the UN-PAGE Ministerial, and a framework for the GEC's next ten-year strategy. The report highlights a global trend toward green investment—noting over 9 trillion of private investment since 2007—while warning that biodiversity is in crisis and the global financial system is structurally unfit for the environmental crisis. It also provides status updates on green economy initiatives in several GEC hub countries, including South Africa, India, Mongolia, Peru, Senegal, and Uganda.