Green Bonds 2015

Opening of conference & chairman's welcome address

Peter Cripps, Editor, Environmental Finance

Keynote: Investing in a Sustainable World

• Why has progress been so painfully slow ?
• Are we seeing real momentum, or just rhetoric ?
• Advent of the opportunists: good news or bad ?
• What can we do to accelerate things ?
• Where do green bonds fit in?

Dr. Matthew Kiernan, Chief Executive, Inflection Point Capital Management

Keynote: Environmental bonds go mainstream

• The appeal for issuers and investors
• Differences between environmental and climate bonds
• Liquidity and the secondary market
• Lessons for the green bond market from the carbon market

Erik-Jan van Bergen, Chief Investment Officer, ACTIAM

Panel session: The Green Bond Principles one year on. Have we agreed on a standard process now?

• What do they aim to achieve?
• What has been changed in the second iteration?
• How did we get there?
• Improving transparency and disclosure
• Requirements for scaling up the green bond market and taking it mainstream
• 2nd/3rd party green opinion and auditor statement needed or not
• The use of proceeds versus pureplays
• Capital Markets Union, Regulation and GBP
• Where will we be in 3-5 years time?

- Heike Reichelt, Head of Investor Relations & New Products, World Bank
- Victoria Clarke, Sustainable Financing, Debt Capital Markets, HSBC Bank
- Henrik Guldbæk Welch, Senior Vice President, Group Treasury, Vestas 
- Nicholas Pfaff, Director, Market Practice & Regulatory Policy, International Capital Market Association (ICMA)
Moderator: Ulrik Ross, Managing Director, Global Head of Public Sector & Sustainable Financing, Capital Financing, HSBC Holdings plc

Panel session: Issuers' perspective

• Reasons for issuing green bonds?
• Changing face of issuers - from multilaterals and investment banks to corporates, municipalities and universities
• Building demand - what types of issue are in demand?
• Cost and pricing of issuance. Are the benefits tangible?

- Aldo Romani, Deputy Head of Funding, Euro, European Investment Bank
- Bodo Winkler, Head of Investor Relations / Credit Treasury, Berlin Hyp
- Laurent Machureau, Deputy General Manager, Finance, Audit and Management Control, Region Ile-de-France
- Sridhar Ramamurthy, Senior VP Finance, Treasury, Tax, Pensions & Insurance, Unilever
Moderator: Tanguy Claquin, Managing Director, Sustainable Banking, Crédit Agricole CIB

Panel session: The green bond investor's outlook

• What is attracting more investors into Green Bonds?
• What are investors' major areas of focus and where do they see change happening?
• How are investors set up to undertake the 'green' part of the analysis?
• The role of second party opinions, standards and third party verification
• Different types of issuer – how will investors view them?
• Impact reporting – the investor's view
• Position on social bonds

- Christopher Wigley, Senior Portfolio Manager, Mirova
- Colin Purdie, Head of Global Investment Grade Credit, Aviva Investors
- Mahesh Jayakumar, Senior Portfolio Manager, State Street Global Advisors
- Ulf Erlandsson, Senior Portfolio Manager, Global Macro Trading, AP4
Moderator: Martin Mills, Managing Director & Head of EMEA Product Solutions, Bank of America Merrill Lynch

Panel session: What is 'green'? Developing standards and external assurance

• Solving the "what is green?" dilemma
• Outlook for standards, benchmarks and rating systems and what do they mean to investors?
• "Controversial" case studies

- Justine Leigh-Bell, Senior Manager, Climate Bonds Standards Program
- Alexandre Marty, Senior Investor Relations Manager, Finance, EDF 
- Ben Powell, Head of Funding, Treasury Market Operations, IFC
- Christopher Davis, Senior Program Director, Investor Programs, Ceres
Moderator: Jonathan Weinberger, Head of Capital Market Engineering, Societe Generale CIB

Presentation: International innovations and emerging trends

• How is the market maturing?
• Has growth begun to stall?
• The growth of new sectors such as municipalities and cities
• Emerging sectors, currencies, new regions e.g. Latin America / Asia
• Growth trends and projections
• Developing project bonds, securitisation and revenue bonds

Marilyn Ceci, Managing Director & Head of Green Bonds, J.P. Morgan

Panel session: Verifiers and opinions

• Verification and certification
• The role of second opinion providers
• Different approaches by the second opinion providers
• Verifiers versus second opinion providers

- Martina Macpherson, Managing Partner, SI Partners / oekom research UK
- Pernille Holtedahl, Principal Consultant, UK Sustainability, DNV GL - Business Assurance
- Damian Regan, Director, PwC
- Vikram Puppala, Manager, Advisory Services, Sustainalytics
Moderator: Graham Cooper, Consulting Editor, Environmental Finance

Panel session: Green bond indices

• What impact will different indexes have on the market?
• Is the data meaningful given the lack of secondary trading?

- Laura Nishikawa, Executive Director & Head of Fixed Income ESG Research, MSCI
- Phil Galdi, Head of Global Bond Index Research, Bank of America Merrill Lynch
- Scott Harman, Director, Index Research, Barclays
Moderator: Sophie Robinson-Tillett, Environmental Finance

Panel session: Optimising business opportunities in the Green Bonds Market in 2016 and beyond

• Determining the future of the green bond market: What are the guiding points?
• Joint effort: What needs to be done and achieved by all market participants before 2016?
• Looking forward: Scaling-up market mechanisms and managing the major risks

- Jonathan Weinberger, Head of Capital Market Engineering, Societe Generale CIB
- Marilyn Ceci, Managing Director & Head of Green Bonds, J.P. Morgan
- Martin Mills, Managing Director, Bank of America Merrill Lynch
- Tanguy Claquin, Managing Director, Sustainable Banking, Crédit Agricole CIB
- Ulrik Ross, Managing Director, Global Head of Public Sector & Sustainable Financing, Capital Financing, HSBC Holdings plc
Moderator: Peter Cripps, Editor, Environmental Finance