Thirteen major banks issue Green Bond Development principles.

Green Bonds Initiative: “We blogged the draft version a few months ago; at that stage it was just Citi and Bank of America Merrill Lynch. Things have moved forward and yesterday a more developed version was published. Now there are 13 banks involved, with JP Morgan and Credit Agricole joining the first two in the driver’s seat.”
“This is a big development; and with even more banks expected to now sign up to the Principles they are likely to have a major impact on development of the market.
Banks signed up so far are: Bank of America Corporation, Citigroup, Crédit Agricole CIB, JPMorgan Chase, BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho, Morgan Stanley, Rabobank and SEB.
Below is there media release. Click here to download the Green Bond Principles. A list of media contacts for the banks are here.
A consortium of investment banks today announced their support of the Green Bond Principles – Bank of America Merrill Lynch, Citi, Crédit Agricole Corporate and Investment Banking, JPMorgan Chase, BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho Securities, Morgan Stanley, Rabobank and SEB.  These Principles were developed with guidance from issuers, investors and environmental groups and serve as voluntary guidelines on recommended process for the development and issuance of Green Bonds.  They encourage transparency, disclosure and integrity in the development of the Green Bond market.
These Green Bond Principles suggest process for designating, disclosing, managing and reporting on the proceeds of a Green Bond.  They are designed to provide issuers with guidance on the key components involved in launching a Green Bond, to aid investors by ensuring the availability of information necessary to evaluate the environmental impact of their Green Bond investments and to assist underwriters by moving the market towards standard disclosures which facilitate transactions.
These Principles build on first-to-market issuances by multilaterals and provide a platform for other future Green Bond issuers to direct funding to Green Projects. They are complemented by an appendix of established definitions of Green Project categories that were developed by multilaterals, non-profit and non-government organizations, and other relevant stakeholders. Read more about the Green Bond Principles here.
The four banks that served as a drafting committee for these Principles – Bank of America Merrill Lynch, Citi, Crédit Agricole Corporate and Investment Banking and JPMorgan Chase – will propose in 2014 a governance process that will allow for diverse stakeholder input into the Green Bond Principles.  It is anticipated that an independent third party will be designated to serve as a secretariat whose administrative duties will include facilitating information exchange with issuers, investors, underwriters, and other stakeholders such as non-profit environmental organizations, non-government organizations, academics and other thought leaders.”