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In line with the Governance framework for the Green Bond Principles (GBP), published in April 2014, an Initial Executive Committee was established in June 2014 with representatives from 18 organisations comprising a balanced distribution of leading Green Bond practitioners.
GBP Initial Executive Committee as of August 2014
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Investors
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Issuers
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Underwriters
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The Initial Executive Committee was formed after a month long process with a total of 29 applicants. The resulting Committee membership is based on the extent of each organisation’s historic activity in the Green Bond market; and criteria such as transaction volume, diversity of type and geographic balance.
The composition of the Initial Executive Committee confirms the broad support that the Principles enjoy and provides a solid basis for their governance.
The Committee met for the first time in London on June 23. Its key priority will be to oversee the 2015 update of the Principles that will be presented at the GBP AGM scheduled to take place in early November 2014 in London.
The GBP Secretariat run by the International Capital Market Association (ICMA) launched a related consultation with GBP members and observers requesting their input on the update of the Principles. This consultation will close on September 3.
55 institutions active in the GB market are members of the GBP; 18 additional institutions have received observer status. The full list of members and observers can be found at www.icmagroup.org/greenbonds.
