“It’s catching on like wildfire… We’ve reached the Holy Grail, which is the bond market.” – Michael Eckhart, managing director at Citigroup Inc., founder of the American Council on Renewable Energy
On the sidelines of the Renewable Energy Finance Forum in New York, Citigroup managing director Michael Eckhart predicted that the Green Bond market could reach $100 billion in 2015.
With 2014 Green Bonds issuances year-to-date already surpassing 2013’s total, Green Bonds are helping provide the $1 trillion annual investments in clean energy we need to limit the impact of climate change. Offering a simple way for investors to finance green projects using fixed income markets, issuing banks like Citi, Bank of America, and JPMorgan Chase are increasingly praising the Green Bond market.
Noting that a $1 billion issue in Feb. 2013 by the World Bank sold out in an hour, Echkart said, “We were shocked it went so fast. Pension funds love them.”