Blog post by Bloomberg New Energy Finance (BNEF) published November 29, 2017

In recent times, the world has experienced an exponential increase in solar-powered generating capacity, especially in emerging markets such as China and India. The reasons for this rapid development exists due to low-priced equipment and improved technologies now reaching millions of people. As reported by Bloomberg New Energy Finance, solar capacity grew by 54% year-on-year, and over a three-year period it has more than tripled. The capacity rate achieved during 2016 alone would in fact meet the electricity demands of 45 million households, or cover the demands for each family in a country such as Peru. As may be expected, China has the lion’s share of the increased capacity with an additional 27 GW. However, India qualify themselves as number two in this race with an added 4.2 GW during 2016. Countries such as Mexico, Brazil and Pakistan doubled their installed solar-powered capacity.

Perhaps as an early Christmas gift to the international community rooting for a cross-sectorial solution on combatting climate change, HSBC have announced their commitment to establish the world’s first bond. As explained by HSBC themselves, the bond is closely linked to the UN’s Sustainable Development Goals (SDG). Following seven selected SDG targets, HSBC will fund 1 billion USD through the bond and thus financially support projects set out to increase the sustainable well-being of communities and the environment. The concept is specifically aimed at establishing hospitals, schools and infrastructural improvements.

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