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Financing High Performance Climate Adaptation in Agriculture: Climate Bonds for Multi-Functional Water Harvesting Infrastructure on the Canadian Prairies

Author

Listed:
  • Anita Lazurko

    (Department of Environmental Sciences and Policy, Central European University, Budapest 1051, Hungary)

  • Henry David Venema

    (Prairie Climate Centre, International Institute for Sustainable Development, Winnipeg, MB R3B 0T4, Canada)

Abstract

International capital markets are responding to the global challenge of climate change, including through the use of labeled green and climate bonds earmarked for infrastructure projects associated with de-carbonization and to a lesser extent, projects that increase resilience to the impacts of climate change. The potential to apply emerging climate bond certification standards to agricultural water management projects in major food production regions is examined with respect to a specific example of multi-functional distributed water harvesting on the Canadian Prairies, where climate impacts are projected to be high. The diverse range of co-benefits is examined using an ecosystem service lens, and they contribute to the overall value proposition of the infrastructure bond. Certification of a distributed water harvesting infrastructure bond under the Climate Bond Standard water criteria is feasible given climate bond issue precedents. The use of ecosystem service co-benefits as additional investment criteria are recommended as relevant bond certification standards continue to evolve.

Suggested Citation

  • Anita Lazurko & Henry David Venema, 2017. "Financing High Performance Climate Adaptation in Agriculture: Climate Bonds for Multi-Functional Water Harvesting Infrastructure on the Canadian Prairies," Sustainability, MDPI, vol. 9(7), pages 1-20, July.
    • Handle: RePEc:gam:jsusta:v:9:y:2017:i:7:p:1237-:d:104754
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    References listed on IDEAS

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    Cited by:

    1. Andini Nurul Aini & Citra Sukmadilaga & Erlane K. Ghani, 2023. "Green Bonds, Investor Attention and Stock Market Reaction: Evidence from ASEAN Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 334-343, November.
    2. Litao Feng & Zhuo Li & Zhihui Zhao, 2021. "Extreme Climate Shocks and Green Agricultural Development: Evidence from the 2008 Snow Disaster in China," IJERPH, MDPI, vol. 18(22), pages 1-22, November.
    3. Agnieszka Brelik & Barbara Golebiewska & Justyna Franc-Dabrowska, 2020. "Co-Financing of Organic Farming in the EU: Necessity or Fantasy?," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 547-557.

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