An innovative new NAB offering, finalised with $90 million from the Clean Energy Finance Corporation, has made it easier for super funds to back loans for clean energy projects.
ANZ has issued a 750-million-euro bond that will direct proceeds to projects that have environmental, social and economic benefits aligning with UN Sustainability Goals.
Westpac's has signalled a multi-billion dollar boost in green bond issuances and 'climate solution' spending, and will impose new constraints on lending for coal power stations and mines.
More than $4 billion has now been raised by Australian companies through climate bonds, following a new $650 million issuance by the Commonwealth Bank.
The Queensland Treasury Corporation has issued Australia's largest green bond, and National Australia Bank says it shows the growing importance of environmental investors.
Banks and investors no longer automatically accept proponent and government assurances on environmental risk, and are now increasingly doing their own risk analysis on finance for major projects, according to the Investor Group on Climate Change.
NAB has become the first Australian bank to launch a climate bond, and the first bank globally to have a bond certified under the international Climate Bonds Standard.