Today in London, Climate Bonds Initiative awarded CICERO with a Green Bond Pioneer Award for being the biggest second opinion provider globally in 2016.
"As green bonds move from a niche market to the mainstream, it is vital to give investors information on what is green through independent second opinions. What is important to us is to be a thought leader on what is green, based on the latest environmental science," said Christa Clapp, head of the climate finance group.
For ten years, CICERO has been a leading provider of second opinions.
“I am very proud of our climate finance unit – a small group of scientists that managed to translate climate science into tailor-made climate solutions for investors from across the world,” said Kristin Halvorsen, Director of CICERO and former Minister of Finance.
CICERO provided environmental due diligence on the first green bond issued by the World Bank in 2007, creating a scale-able solution for ensuring environmental integrity of green bonds.
“We offer a science-based climate risk approach to green bond reviews. Through our Shades of Green method, we rate bonds light, medium or dark green according to how well they align with a low-carbon and climate resilient future,” said senior advisor Harald Francke Lund.
“We collaborate with other non-profit academic organizations around the world to provide regional context,” added Christa Clapp.
“The 2nd Green Bond Awards honor the organizations that over the past year have been leaders in the global financial sector, mobilizing the capital needed to address climate change, limit carbon emissions and finance the green infrastructure of the future. This year’s Awards in part reflect the diversification of issuers and acceleration in the green bonds market that has taken place over the past year,” said Climate Bonds CEO Sean Kidney.