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Three international organisations have come together to encourage the use of innovative private sector finance to combat deforestation.

Kenya has launched a green bond programme with an eye to see the country's first issue by November. The programme's objective is to grow capacity for green bond issuance in the country, establish a framework and standards, develop licensed verifiers and look to catalyse similar programmes across East Africa.

The Commonwealth Bank of Australia (CBA) has issued a AUD650 million ($495 million) green bond, its inaugural offering.

French rail operator SNCF Reseau is gearing up to issue its second green bond.

The International Finance Corporation (IFC) is combining its two 'socially responsible' bond programmes to enable it to issue more 'benchmark' size social bonds.

India's Yes Bank has agreed a second transaction in which it will issue a rupee-denominated green bond which will be bought using the proceeds of sustainability bonds issued by a development bank.

India's National Thermal Power Company (NTPC) is planning more 'masala' bonds, possibly in the next eight to nine months.

Asian banks are more focussed on the opportunities arising from climate change than the risks, according to the Asia Investor Group on Climate Change (AIGCC).

Gaelectric has secured a €38 million ($42 million) financing package from Allied Irish Bank for the construction of two Irish wind farms.

Irish clean energy specialist Mainstream Renewable Power has raised $177.5 million for Lekela Power, its joint venture in Africa.