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We need to expand, step-up, implement and move rapidly on the points listed in this manifesto. 1." /> <meta name="generator" content="Drupal 7 (http://drupal.org)" /> <link rel="canonical" href="https://www.climatebonds.net/about/five-five-manifesto" /> <link rel="shortlink" href="https://www.climatebonds.net/node/194924" /> <meta property="og:site_name" content="Climate Bonds Initiative" /> <meta property="og:title" content="Five by Five Manifesto" /> <meta property="og:description" content="To make a substantive contribution to addressing the stark risks of climate change we need to see at least USD5tn a year of annual issuance from 2025. We have adequate global capital available, and the rapid market growth to date has demonstrated the appetite for capital to move. 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class="page-header">Five by Five Manifesto</h1> <div class="region region-content"> <section id="block-system-main" class="block block-system clearfix"> <article id="node-194924" class="node node-page clearfix"> <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="" src="https://www.climatebonds.net/files/images/pages/Images/5by5-banner.png" style="width: 890px; height: 206px;" /></p> <div title="Page 1"> <hr /><p><a href="https://www.climatebonds.net/resources/reports/5-steps-5trillion-2025"><img alt="" src="https://www.climatebonds.net/files/images/pages/Images/5by5thumb.png" style="width: 150px; height: 208px; float: left;" /></a> </p> <p><a href="mailto:info@climatebonds.net"><img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/get-involved.png" style="width: 250px; height: 104px; float: right;" /></a></p> <table border="0" cellpadding="1" cellspacing="1"><tbody><tr><td> <p>To make a substantive contribution to addressing the stark risks of climate change we need to see at least USD5tn a year of annual issuance from 2025. We have adequate global capital available, and the rapid market growth to date has demonstrated the appetite for capital to move.</p> <p>We need to expand, step-up, implement and move rapidly on the points listed in this manifesto. </p> </td> </tr></tbody></table><h2> </h2> <hr /><h2><span style="color:#006699;">1. LABEL GREEN</span></h2> <p><img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/icon-green.png" style="opacity: 0.9; width: 120px; height: 122px; float: right;" /></p> <p>We must green the capital markets ecosystem by expanding this labelling to include all types of financial instruments from equities to short term borrowing, sectors, entities, and everything that comes beneath that including transition, resilience, nature-based solutions, and water. </p> <div title="Page 1"> <div> <div> <div> <p>Liquidity and scale enable investors to commit to climate friendly investment mandates.</p> </div> </div> </div> </div> <div title="Page 1"> <h2> </h2> <h2><span style="color:#006699;">2. DEFINE TRANSFORMATION<img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/icon-transition.png" style="width: 120px; height: 126px; float: right;" /></span></h2> <div class="page" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0);" title="Page 1"> <div class="section"> <div class="layoutArea"> <div class="column"> <p>We must expand our definitions to include areas beyond climate change mitigation. </p> <div title="Page 1"> <div> <div> <div> <p>New areas requiring financing include transition, biodiversity, and adaptation and resilience including healthcare. </p> <div title="Page 1"> <div> <div> <div> <p>Taxonomies that can be used by global investors seamlessly and with minimum transaction costs will facilitate global recognition of different green financial instruments.</p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div title="Page 1"> <h2> </h2> <h2><span style="color:#006699;">3. ACCELERATE POLICY<img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/icon-accelerate.png" style="width: 122px; height: 132px; float: right;" /></span></h2> <div title="Page 1"> <div> <div> <div> <p>Governments must signal clear support for net-zero by initiating a supportive policy environment for transition.</p> <div title="Page 1"> <div> <div> <div> <p>Endorsing clear transition pathways, establishing certainty of future demand for financeable climate solutions, and addressing risks in areas where the private sector is unable to act.</p> <div title="Page 1"> <div> <div> <div> <p>Issuing sovereign green bonds indicates strong government leadership catalysing market creation and development through scale and issuers often obtain cheaper funding to boot.</p> <div title="Page 1"> <div> <div> <div> <p>Climate Bonds<a href="https://www.climatebonds.net/policy/101-policymakers"> 101 Sustainable Finance Policies for 1.5 ̊C</a> is full of suggestions to get policy moving.</p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <h2> </h2> <h2><span style="color:#006699;">4. GROW PIPELINE<img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/icon-pipeline.png" style="width: 120px; height: 129px; float: right;" /></span></h2> <p>Creating a large, predictable and climate friendly pipeline of expenditures and projects is the key to achieving net zero.</p> <div title="Page 1"> <div> <div> <div> <div title="Page 1"> <div> <div> <div> <p>This requires ambitious planning, supportive policy, and leadership from the public sector through actions such as investment in research and development, and incorporating climate considerations into planning.</p> <div title="Page 1"> <div> <div> <div> <h2> </h2> <h2><span style="color:#006699;">5. BOOST EMERGING MARKETS<img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/icon-ems.png" style="width: 120px; height: 127px; float: right;" /></span></h2> <div title="Page 1"> <div> <div> <div> <p>Mechanisms to get capital flowing from richer to poorer such as blended finance to absorb junior capital tranches, de-risking guarantees, and larger sized deals, must all be multiplied. Economic development must build in mitigation from the start, and large projects should be financed through the capital markets to encourage dedicated investment.</p> <p> </p> </div> </div> </div> </div> </div> </div> </div> </div> <p> </p> </div> </div> </div> </div> </div> </div> </div> </div> </div> <hr /><table align="center" border="0" cellpadding="1" cellspacing="1" style="width:1005px;"><tbody><tr><td class="rtecenter" style="text-align: center; vertical-align: middle;"><img alt="" src="https://www.climatebonds.net/files/images/pages/Images/icons/get-involved.png" style="width: 250px; height: 104px;" /></td> </tr></tbody></table><p> </p> </div> </div> </div> </div></div></div> </article> </section> </div> </section> </div> </div> </div> <div id="footer"> <footer class="footer"> <div class="row registered-charity"> <div class="col-xs-12 col-sm-6"> Climate Bonds Initiative is a registered charity in England and Wales (no. 1154413) </div> <div class="col-xs-12 col-sm-6 pull-right 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