❓ Hon. Tjorn Sibma questions the Treasurer regarding the development of green bonds by the Western Australian Treasury Corporation (WATC), inquiring about peer activity, investor demand, progress, and the state's ESG credentials. The Treasurer provides information on peer activity, investor demand, progress and lack of holistic assessment of WA's ESG credentials.
AnsweredQoN 806Legislative Council
QuestionView source ↗
TREASURY CORPORATION — GREEN BONDS
806. Hon TJORN SIBMA to the minister representing the
Treasurer:
I
refer to paragraph 11 listed under the Western Australian Treasury Corporation
on page 147 of budget paper No 2, volume 1, and to the corporation's
development of environmental, social and governance, or ''green'',
bonds.
(1) Which of the
WATC's Australian ''peers'' have developed these bonds?
(2) What is the
quantum of investor demand for the development of these bonds?
(3) What progress
has been made on the development of these bonds?
(4) Broadly
speaking, what are the state's ESG credentials and which decisions of
government have had an impact on these credentials?
806. Hon TJORN SIBMA to the minister representing the
Treasurer:
I
refer to paragraph 11 listed under the Western Australian Treasury Corporation
on page 147 of budget paper No 2, volume 1, and to the corporation's
development of environmental, social and governance, or ''green'',
bonds.
(1) Which of the
WATC's Australian ''peers'' have developed these bonds?
(2) What is the
quantum of investor demand for the development of these bonds?
(3) What progress
has been made on the development of these bonds?
(4) Broadly
speaking, what are the state's ESG credentials and which decisions of
government have had an impact on these credentials?
AnswerView source ↗
I thank the
honourable member for some notice of the question.
(1) New South
Wales Treasury Corporation, Queensland Treasury Corporation and Treasury
Corporation of Victoria.
(2) Significant
and growing, which reflects a growing international demand for ESG bonds but
restricted supply. For example, the October 2020 green bond issue by NSW
Treasury Corporation had $4.1 billion in bids for $1.3 billion issued. The
recent entry of the United Kingdom into the green bond market in September 2021
saw over $100 billion in bids for $10 billion issued.
(3) The WATC is
in the early stages of developing the frameworks, governance and reporting
requirements to support this type of issuance.
(4) There has
been no holistic assessment published by a reputable third party providing an
opinion on the Western Australian government's ESG credentials.
honourable member for some notice of the question.
(1) New South
Wales Treasury Corporation, Queensland Treasury Corporation and Treasury
Corporation of Victoria.
(2) Significant
and growing, which reflects a growing international demand for ESG bonds but
restricted supply. For example, the October 2020 green bond issue by NSW
Treasury Corporation had $4.1 billion in bids for $1.3 billion issued. The
recent entry of the United Kingdom into the green bond market in September 2021
saw over $100 billion in bids for $10 billion issued.
(3) The WATC is
in the early stages of developing the frameworks, governance and reporting
requirements to support this type of issuance.
(4) There has
been no holistic assessment published by a reputable third party providing an
opinion on the Western Australian government's ESG credentials.
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