October 10 (Renewables Now) - The Climate Bonds Initiative (CBI) on Monday launched the Marine Renewable Energy Criteria, meaning that investments in marine renewables can now receive Climate Bonds Certification.
The organisation said that as marine renewable technologies progress from research and prototyping to commercial scale, they offer potential to meet power needs, but more investment is needed to realise this potential.
The criteria set out the requirements for disclosure, greenhouse gas emission mitigation and climate adaptation and resilience that marine renewable energy investments must meet in order to be eligible for Climate Bonds Certification. The bonds should also meet the reporting and transparency requirements of the wider Climate Bonds Standard.
The new set of requirements join the criteria already in place for wind, solar, geothermal, transport, buildings and water. They cover both established and emerging marine renewable energy technologies, including offshore wind, offshore solar, wave power and tidal power.
Anna Creed, head of standards at the CBI, said initial marine renewable certifications are expected in the next six months.
The CBI recently said that year-to-date green bond issuance reached USD 83 billion (EUR 70.2bn) on September 28, surpassing the record 2016 green bonds total of USD 81.6 billion.
(USD 1 = EUR 0.846)