Latest stories on Socially Responsible Investments
Sei-Hyong Park, who formerly worked in Lehman Brothers' securitization division, is now at Property Assessed Clean Energy (PACE) platform Renew Financial.
Market participants are clamouring for sovereigns to join France and enter the green bond market. It would likely help the market, but would it help the environment?
Calls are growing louder for sovereigns to pull their weight and assume a leading role in the development of the green bond market. But, as was demonstrated at panels in Euromoney’s Global Borrowers & Bond Investors Forum this week, many of them are reluctant to take up the SRI baton, write Lewis McLellan and Sharon Kimathi.
Spruce Finance, which finances residential energy efficiency projects and solar installations in the US, sold a $250m loan portfolio to an undisclosed North American bank on June 21.
Two European railway operators, Eurofima and SNCF Réseau, plan to sell green bonds through the private placement market in the near future.
Régie Autonome des Transports Parisiens (RATP), the Paris transport authority, printed its inaugural green bond on Thursday, selling a €500m no-grow into a thrice oversubscribed book and pulling the price in 5bp from guidance.
The Luxembourg Stock Exchange (LuxSE) signed an agreement this week with the Shanghai Stock Exchange (SSE) for a green bond index, the latest move by China to boost its green credentials and entice international investors. Morgan Davis reports.
India’s Rural Electrification Corporation (REC) has mandated banks for a green dollar bond, a first for the company.
Emerging market governments must lead the way in green bonds to encourage corporates to enter the market around the world, according to Rahul Ghosh, a senior credit officer at Moody’s.
The Luxembourg Stock Exchange (LuxSE) has signed an agreement with the Shanghai Stock Exchange (SSE) to launch a green bond index that will provide synchronous quotes in China and Europe.
The Luxembourg Financial Labelling Agency launched on Monday a label for green bonds, assuring investors that bonds bearing the stamp meet LuxFLAG’s criteria of quality.
Enthusiasm for green and social bonds is mounting, and revisions to the Green Bond Principles (GBP) announced this week may give the market a further lift. Many of the same debates still exercise market participants as in the past, but they appear less daunted by these conundrums.
TenneT, the Dutch electricity grid company, brought a €1bn dual tranche green bond issue on Monday that was oversubscribed, but by less than other recent deals. However, the quality of the book helped both tranches perform in the secondary market.
Cutting regulatory capital charges for green loans is one idea being considered by the EU’s High Level Expert Group on Sustainable Finance, which is due to make its first report on July 18.
Hopes that the recommendations of the Task Force on Climate-Related Financial Disclosures will be adopted by the G20 have been cast into doubt by the US’s swing away from international action on climate change under President Trump, green finance experts said this week.
The double whammy of the US Federal Reserve meeting and a public holiday across parts of Europe slammed the brakes on an already slow week of corporate bond issuance on Thursday. However, bankers are confident that the last few weeks of June will go out with a bang rather than a whimper.
China Three Gorges Corp sealed its inaugural offshore green bond on Wednesday, raising €650m from a seven year deal. The notes were sold at a tight spread, with bankers saying that the “European style” execution was due to strong demand from investors.
Hydropower company China Three Gorges Corp raised €650m from its inaugural offshore green bond, pricing it inside theoretical fair value. The issuer has a natural need for euros, and its deal, unlike most notes sold in the currency by Mainland issuers, was executed in a “European style” due to strong demand, said bankers.
China Three Gorges Corp, the state-owned hydropower company, brought its first euro denominated green bond on Wednesday. The €650m seven year deal came a year after the company issued its first green bond in remnimbi.
State-owned hydropower company China Three Gorges Corp is marketing its maiden international green bond denominated in euros. The firm raised Rmb6bn ($900m) from an onshore green outing two years ago.
NEW: SRI special reportOctober 2015
Articles in this report...
- Bending the curve: can the Paris summit slow climate change?
- Fixed income: is responsible investing becoming the norm?
- Local governments take steps into green universe
- Will someone tell me what’s really green?
- Reporting — the new must-have accessory for SRI bonds
- Green bonds and growing pains
- Social bonds busy making more friends
- Corporate and FIG issuers take the green bond baton
- Asia’s green bond market ready to pop as China, India sign up
- Hopes high for future of Asian SRI
- Latin America finding its own way to rise to the SRI challenge
- Bond volumes off target but optimism shines through
- Green indices reach new heights and take market with them
- The changing investor base’s diversity of needs
- Banks and CSR: Put your money where your mouth is
- SRI sectors in focus: Evolution of green bonds
- SRI sectors in focus: Energy Efficiency
- SRI sectors in focus: Forestry
- SRI sectors in focus: Housing and buildings
- SRI sectors in focus: Renewable energy
- SRI sectors in focus: Transportation
- SRI sectors in focus: Water Governance
- SRI sectors in focus: Water Purification
SRI 2014 report
Articles in this report...
- The last chance saloon
- What is a green bond? And who should decide?
- Bond investors get serious on ESG — and issuers respond
- Green bonds hit the big time
- SSAs take pioneering spirit to new frontiers
- Public sector borrowers define the environment — and beyond
- Bold munis make long green strides, but most are far behind
- SRI bonds — forerunners of the new green generation
- Economic powerhouse could one day lead in ethical issuance
- Projects and pricing: issuers and investors debate the future of Asian SRI
- Corporates take up the green bond baton
- Companies, banks highlight hidden value, prepare green bonds for climate mission
- Have we reached the tipping point?
Promoted By CGIF
Promoted By Euromoney Country Risk
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