IHA to participate in Climate Bonds Initiative Hydropower Technical Working Group
The Climate Bonds Initiative has launched a Hydropower Technical Working Group to develop criteria for climate-friendly hydropower investment. The International Hydropower Association (IHA) will join representatives of various international NGOs, governments and academic institutes on the working group.
The working group will seek to develop criteria to identify hydropower projects that deliver climate mitigation benefits and/or incorporate adaptation and resilience services.
The aim is to create a screening tool for investors and issuers to assess whether bonds linked to hydropower assets can be consistent with the target of limiting warming to a global average of 2°C, as set out in the Paris Agreement.
Richard Taylor, IHA’s chief executive, said: “Climate change can only be managed once we have developed tools for increasing investment in climate-aligned infrastructure.
“Building on existing guidance and protocols, the Climate Bond Standard is a crucial step forward in this process.
“Specific criteria for the screening of climate-compatible hydropower will be essential for bond issuers and investors to move forward with confidence."
Sean Kidney, CEO of the Climate Bonds Initiative, said: “The working group will help ensure the many issues around hydropower are closely examined, relevant science is considered and draft standards draw out specific climate-focused reporting and monitoring requirements for hydropower bonds and fully leverage existing guidance.”
You can find out more about the Hydropower Technical Working Group and who is involved here.