CICERO - Center for International Climate Research

Expert advice in climate finance

Published 17.01.2020

Evaluating the greenness of investments

Shifting investments toward a low-carbon and climate-resilient future is a fundamental step towards a climate change solution. CICERO helps investors, municipalities and companies to identify climate risk in their activities and evaluates green investments.

CICERO is the leading provider of second opinions on green bonds. When the World Bank issued the first Green Bond in 2008, CICERO provided a second opinion on the greenness of this bond. Since then the market has had an impressive growth and CICERO has provided around 50 second opinions for different actors such as development banks, municipalities and companies.

Green bonds are debt instruments to channel investments towards green assets and activities that counter climate change. Second opinions evaluate the greenness of the bond by providing an independent assessment of the bond’s and issuer’s environmental objectives.

CICERO has global expertise on green investments thanks to co-operation with the Expert Network on Second Opinions (ENSO) - a network of independent non-profit research institutions across the world, specialised on climate change and other environmental issues. This network was established by CICERO to broaden the technical expertise and regional experience for second opinions.