Green Bonds are a financing option available to organisations that present significant opportunities to deliver projects with environmental and climate-related impacts.
The Greater London Authority (GLA) has embarked on proposals to borrow approximately £500 million through issuing Green Bonds with potentially far-reaching impacts for the GLA Group’s commitments to achieve Net Zero carbon emissions, including its preferred Net Zero carbon pathway.
Recent budget constraints have affected the capacity to deliver against these ambitions. The Green Bond financing option potentially unlocks a series of GLA Group environmental projects.
The Environment Committee will tomorrow examine key questions on the Green Bond Programme, including:
- What is the potential environmental impact of the Green Bond-funded projects?
- What contribution could the Green Bond-funded projects make to the GLA’s commitment to deliver its Net Zero Carbon pathway?
- What type of projects should the GLA deliver through the Green Bonds?
- Where should the GLA focus its Green Bond-funded projects?
- What criteria should the GLA be using to rank projects and monitor success?
- What can the GLA learn from domestic and international examples of Green Bond-funded projects?
- Where have other organisations successfully delivered Green Bond-funded projects, and what was key to their success?
- How will the GLA ensure its Green Bond proceeds reach genuinely environmentally impactful projects?
- What monitoring or auditing system will be in place to ensure the integrity of projects?
- To what extent will the projects be delivered through the GLA Group and how much will be delivered externally?
The guests are:
- Catherine Barber, Assistant Director, Environment and Energy, GLA
- Sam Longman, Head of Sustainability and Corporate Environment, TfL
- Stephen Dadswell, Head of Corporate Finance, TfL
- Zoe Jennings, Head of Climate Investment, 3Ci
- Prashant Vaze, Senior Fellow Climate Bonds Initiative & former member of UK Green Technical Advisory Group
The meeting will take place Thursday, 10 November 2022 from 10.00am in The Chamber, at City Hall, Kamal Chunchie Way, E16 1ZE.
Media and members of the public are invited to attend.
The meeting can be viewed LIVE or later via webcast or YouTube
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Notes to editors
- Read the agenda papers.
- Zack Polanski AM, Chair of the Environment Committee, is available for interview.
- Find out more about the London Assembly Environment Committee.
- As well as investigating issues that matter to Londoners, the London Assembly acts as a check and a balance on the Mayor.
For media enquiries, please contact Alison Bell on 020 7983 4228 or 07887 832 918. For out of hours media enquiries, call 020 7983 4000 and ask for the London Assembly duty press officer.