Media release
For immediate release: 19/03/2014

Agriculture & Forestry Industry Working Group launched - big businesses and banks
tasked with advising on practicality of the Climate Bond AFOLU Standard.
Expert committee includes representatives from World Bank, Credit Suisse, IADB, Rabobank and more

London 19 March 2015 - Agriculture, Forestry and Other Land Use (AFOLU) Industry Working Groupwas set up and held it first meeting. It will support the work of the AFOLU science expert committeethat was launched in 2014 to develop eligibility criteria for climate bonds that can be certified under
the Climate Bonds Agriculture & Forestry Standard. Climate Bonds Standard is a FairTrade-likelabeling scheme for bonds that allows investors to easily prioritise ‘climate-smart’ investments.
Made up of banks and big businesses, the Industry Working Group is tasked with ensuring that
proposals developed by the science committee are practical, easy to use and applicable across anumber of key investments areas under the sector.
The IWG includes representatives from Credit Suisse, World Bank, Inter-American Development
Bank, Rabobank, Banorte , ADM (one of world’s largest agricultural processors and food ingredientproviders), Hassad Food Company, Olam (one of the world´s largest agriculture businesses
operating from seed to shelf in 65 countries), Hancock Natural Resource Group (one of the world'slargest asset managers of forestry and agriculture investments), The Nature Conservancy (TNC) andmany more.
The UNFCCC has estimated that globally, about USD 14 billion will be required in 2030 to cope withthe adverse impacts of climate change in the Agriculture, Food and Forestry sectors - slightly morethan half of this will be needed for developing countries alone. Other estimates suggest thatbetween USD 7 billion and 7.6 billion are required per year for adaptation measures.
Sean Kidney, CEO of the Climate Bonds Initiative said: "The end-goal of this initiative is to catalyze
increased investment, by both private and public bodies, in mitigation, adaptation and resilienceinterventions in Agriculture and Forestry. Looking for ways of doing that in a commercially viable
way that will support bond issuance is one of the things we’d like to tackle through this particularcommittee."Working group lead expert Tania Havemann said: "The purpose of this group is to explore theopportunities around the AFOLU Sector for bond issuance. We need to explore where the industry
sees the priorities and what sectors might be most interested in terms of potential bond issuance."
Chris Brown from Olam said: "We’re definitely interested to see how this can be turned from an idea
into reality and to explore which areas of the business it could add value for." Tim McGavin from
Laguna Bay added: ‘The farmers in Australia get the environmental challenges but most of them
don’t have resources to invest in technology – so there is a huge potential application here’.
Esben Brandi from Quantum Global Alternative shared his thoughts by saying: ‘Climate bonds are anopportunity that could be very relevant for the African perspective’. We also heard from Cristiano
Oliveira from Fibria: ‘We are very interested in what the financial mechanisms could look like whensustainability aspects are taken into account.´The Climate Bonds Standard for Agriculture & Forestry is being developed on the back of strong
investor interest in sustainable investments of which evidence came during the UN Climate Summit
where investors managing $24 trillion of assets came together and called on governments to quickly
address climate change.
John Tobin, Global Head of Sustainability at Credit Suisse commenting on the bank’s involvement in
the AFOLU Standard development said: ‘Focusing on sustainability does not mean looking only atrisks but also opportunities. More and more, we’re finding ourselves on the opportunity side ofthings and green bonds, climate & environmental bonds are of particular interest to us. So when theopportunity to support the development of the AFOLU Standard development came round we weredelighted and look forward to making a meaningful contribution for the sector and business.’---------------------------------------------ENDS--------------------------------------------For more information or to arrange interviews, please contact:

Rozalia Walencik, Communication, rozalia@climatebonds.net +44 207 749 2264, +44 772 382 8954,
About Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit. It is
the only organization in the world focusing on mobilizing the USD 100 trillion bond market for climatechange solutions. www.climatebonds.net @ClimateBonds
Climate Bonds Standards and Certification Scheme – Climate Bonds Standard is a screening tool forinvestors and governments which allows them to easily prioritize climate and green bonds withconfidence that the funds are being used to deliver climate change solutions. It is co-ordinatedthrough the work of dedicated working groups, overseen by a Climate Bond Standards Board
representing $32 trillion of assets under management. www.climatebonds.net/standards
Members of the Industry Working Group:
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Ali bin Mohamed, Hassad Food Company
Brian Kernohan, Director of Policy & Environmental Advocacy, Hancock Natural Resource
GroupChris Brown, General Manager for Environmental Sustainability, OlamCristiano Oliveira, Sustainability Consultant, Fibria
Esben Brandi, Head of Timberland, Quantum Global
Fabian Huwyler, Vice President, Sustainability Affairs, Credit Suisse
Hans Biemans, Head Sustainability, Markets, Rabobank
Jason Green from ECOMJohn Simpson, Vice President, Duxton Asset Management
John Tobin, Global Head of Sustainability, Credit SuisseJustin Sherrard, Global Stretegist, Rabobank
Karla Carnavan, Commercial Director, Bunge
Katalin Solymosi, Sustainable Land Use Associate, Inter-American Development Bank (IADB)
Lara Yacob, Director of Corporate Engagement, TNC
Mads Asprem, CEO, Green Resources
Marc Sadler, Adviser, Agricultural Risk and Markets, Agriculture Global Practice, World Bank
Marcos Mancini, Director, Sustainable Banking, Banorte
Michiel Hendriksz, Director of Sustainability, ADM
Olli Haltia, Dasos
Robert-Carl van Koppen, Director, Form Valuations
Tim McGavin, CEO, Laguna Bay
Timm Tennigkeit, Managing Director, UNIQUE Forestry and land use