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Green mortgages and energy efficiency

The Behavioural Economics Forum has carried out research in the past with the law firm Eversheds into the uses of 'green bonds'. The newly branded law firm Eversheds Sutherland this summer advised Faro Energy on the first certified Green Bond for solar energy in Brazil.

According to the law firm, the bond will fund a series of solar projects in Brazil for the generation of electricity on a distributed basis. It states that 'given the scope and size of the issuance, the transaction marks a significant milestone in European investor appetite in Brazil and paves the way for further growth in solar both in Brazil and across Latin American more widely.'

The accent on climate risk and protecting the environment has now taken a new turn, this time with EU banks focusing on the mortgage market.

BNP Paribas, ING Bank and AXA are among those trialling a new 'green mortgage' which they say will help the consumer focus on energy efficiency.

The World Green Building Council has published a new guide, 'Creating an Energy Efficient Mortgage for Europe : Towards a New Market Standard.' It aims to create property energy performance thresholds, reducing climate risk for lenders who can in turn pass on lower mortgage interest rates to their customers.

Earlier in the year, BNP Paribas claimed that the demand for green bonds had risen and that there was scope to widen the so-called 'blue economy'.

However, BNP Paribas warned that this 'widening' would require significant investment and a concerted effort to bring 'green' into the heart of the collective psyche.

It reported that The Global Commission on the Economy and Climate (GCEC) estimated that global infrastructure investment requirements over the next 15 years amount up to $90 trillion, because of 'ageing infrastructure and rapid urbanisation'.

Climate change, the bank said, cannot be addressed solely by reducing carbon emissions, but also by the enhancement of existing carbon storage facilities, most of which is provided by our oceans.

Plastic waste being dumped in the oceans is now a major concern, highlighted recently by the BBC, is affecting the survival of certain species such as killer whales.

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