Local Government Super (LGS) is a founding and sole Australian signatory to the Green Bond Pledge, an international declaration that all bonds financing long-term infrastructure and capital projects need to address environmental impacts and climate risk.
Other founding signatories included the US State Treasurers of California, New Mexico and Rhode Island, the cities of Asheville and San Francisco in California, King County in Washington, and financial firms, Global New Energy Finance and R3 Returns.
Climate Bonds Initiatives chief executive, Sean Kidney, congratulated the signatories, saying that they were opening a path for much-needed linkage between sub-nationals and corporate climate goals and their balance sheets and investment plans.
“We’re proud to be the sole Australian signatory to the Green Bond Pledge. The objectives of the Pledge perfectly align with our philosophy for responsible investing,” LGS head of responsible investment, Bill Hartnett, said.
“The Pledge is based on the premise that public and private sector bonds financing long-term clean infrastructure need to incorporate mitigation, adaptation and resilience to climate impacts.”
The Pledge, launched last week, reflected the goals of the Paris Agreement.