2017 marks a year of outstanding growth in the global green bond market, but the US is trailing behind. Partisan gridlock over federal climate change policy has translated into uncertainty over investment conditions for renewable development and has slowed green bond uptake. Yet, significant decarbonisation activity at state level means that this uncertainty has not completely deterred demand – or financing – for environmental initiatives.
In an article for Renewable Energy World, S&P Global Ratings’ Michael Ferguson, Director, US Energy Infrastructure, outlines how state led initiatives are encouraging US green bond issuances. He notes that, in particular, the renewable portfolio standards (RPS) that many states have set themselves have the potential to drive investment and green bond growth in the US market in the near future.
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