Ten years after issuing the world’s first green bonds, the European Investment Bank, today highlighted the unique contribution of green bonds to accelerating private sector funding for climate related investment. Speaking at gathering of institutional investors, asset managers and financial institutions hosted by Commerzbank in Berlin, to mark the tenth anniversary of EIB’s issuance of the world’s first green bonds, the EIB’s Vice President responsible for climate and the environment confirmed commitment to support capital market support for climate investment in the years ahead.

Since pioneering green bonds the EIB, the world’s largest international public bank and the largest issuer of green bonds, has continued to support initiatives to increase investment in climate related projects and strengthen investor confidence in green bonds.

The EIB also confirmed a new partnership with NGO We Forest to reverse deforestation and combat desertification where forests are most threatened. Under the initiative a new tree will be planted by We Forest in Africa, Asia or the Amazon for every signature on the dedicated EIB website and for every Euro donated by global banks supporting green bonds. The initiative would enable both private and institutional support for green bonds to tackle deforestation in vulnerable communities.

Commerzbank supported the EIB’s first issuance of green bonds in the debt capital markets ten years ago and earlier this week Commerzbank acted as a joint-lead manager on a new EUR 1 billion Climate Awareness Bond from the EIB. Yesterday’s transaction had an ultra-long tenor of 30 years, making it the longest outstanding Green Bond issue in the market.

“On the occasion of the 10 year anniversary of the first Climate Awareness Bond, EIB once again set a new Milestone transaction with the longest tenor ever. Even at the ultra-long end of the curve, EIB demonstrated its market leadership and attracted strong investor demand. The EIB is not only the first but also the largest issuer in the Green Bond and we are very proud of our long-standing partnership with EIB in the sustainable bond market and beyond.” said Mirko Gerhold, head of DCM Bonds Solutions at Commerzbank.

“Green bonds play an increasingly important part in accelerating support for climate related investment. Over the last decade the fight against climate change has been strengthened through the contribution of debt capital markets to fund climate solutions. We are pleased to mark the historic green bond anniversary together with Commerzbank and other German partners, and look forward to unlocking private support for climate related investment in the years ahead.” highlighted Jonathan Taylor, European Investment Bank Vice President.

The first green bonds were issued by the European Investment Bank, the Bank of the European Union, ten years ago on 4th July, 2007. Since then the EIB has issued more than EUR 19 billion of Climate Awareness Bonds in 11 different currencies.  The EIB’s Climate Awareness Bonds have financed investment in 146 renewable energy and energy efficiency projects in 44 countries around the world.

The self-financing EIB is the world’s largest supranational bond issuer and issues green bonds, which finance a significant proportion of renewable energy and energy efficiency lending, alongside regular bonds.

The EIB is the world’s largest multilateral financier of climate related investment and last year alone provided EUR 19 billion for climate action projects worldwide.  In support of the Paris Agreement, EIB committed to deliver climate finance globally for around EUR 100 billion in the five year period to 2020.

Madam President,

Dear Prime Minister,

Dear President Tusk,

Dear Estonian Vice-President of the European Commission, well-known in this country, dear Andrus,

Ladies and Gentlemen,

Tere õhtust! For those who are less fluent in Estonian than me that means “good evening”.

It is indeed a great pleasure to be with you here in Tallinn for the launch of the first ever Estonian Presidency. It has been a long time in the making but I already know that it will be worth the wait.

Estonia’s European love story started long before you enriched our Union on May Day 2004. The architects of Estonian independence had witnessed the atrocities of war and had a vision of a peaceful Europe built on both economic and political integration.

And even before that, the Young Estonia movement called on their compatriots with their now famous slogan: “Let’s be Estonians, but become Europeans”.

Today, that European spirit is alive. Estonians are consistently amongst the most positive about the European Union.

I am convinced that this Estonian Presidency will build on this positive momentum and contribute to a more prosperous and more secure future for all Europeans. The programme, the priorities you have set out clearly shows that.

From security to sustainability, from protection to prosperity, the work you will do over the next six months will help us build a Europe that delivers. 

In many ways, this wonderful, historic city is a symbol of where Europe needs to go. Tallinn is one of the great hanseatic cities. It has been built on trade with the rest of the world since the 13^th century. Today, it is one of the most forward looking cities in Europe. Its cutting edge technology and digital infrastructure are admired all over Europe.

That mix of history and future is inspiring us as Europe looks forward. We have much to learn and much to benefit from Estonia, notably in becoming as digital as you already are. But also when it comes to embracing new challenges whether they be on defence, migration or technological development.

This is the forward-looking vision that the European Union, that Europe needs. And I am absolutely certain that Estonia can provide it.

Elagu Eesti! Elagu Euroopa! Aitäh!

For the non-Estonians I was just saying: Long live Estonia! Long live Europe! Thank you.

Thank you Angela.

This morning we had a good discussion even though some of us arrived late because we were caught in the Berlin rain.

We talked very intensively about trade issues; that is important for G20. I reported on the progress we have made in the negotiations with Japan and with Canada. There are still a few sticking points. I have therefore sent the European Agriculture Commissioner and the Trade Commissioner to Japan so that these discussions can be concluded before the summit between the European Union and Japan on 6 July. The trade agreement with Japan, if it materialises, is important. And I am assuming that it will materialise. It will fully comply with all European rules, requirements and standards.

We are in the process of getting the free trade agreement with Canada into a shape in which it can come into force on a provisional basis. Again, there are still a few problems that we will be solving over the next few days.

We listened closely to the Italian Prime Minister’s report on the refugee situation. I would like to say here that as far as the Commission is concerned we have for a long time taken the view that neither Italy nor Greece can be left on their own. And the Commission will be there to support what I would call the heroic efforts made by Italy to meet this challenge. Italy will not be on its own.