Latest stories on Socially Responsible Investments

  • LBBW raises bar for FIG greens with €750m print

    Landesbank Baden-Württemberg became the first European bank to issue a green bond larger than the minimum benchmark size in euros on Tuesday, marking a new milestone in the burgeoning market. Advances in data collection could increase the volume of eligible green assets. By Jasper Cox.

    • 07 Dec 2017
  • EIB proposes new subsidiary for lending outside the EU

    The European Investment Bank proposed today to European finance ministers to set up a new subsidiary, open to new shareholders, other than the EIB's existing owners, the European Union member states.

    • 05 Dec 2017
  • Agricole adds to sustainable banking team

    A senior debt capital markets banker at Crédit Agricole CIB has moved to the bank’s sustainable banking team.

    • 06 Dec 2017
  • Green ABS ripens with PACE secondary growth

    An active secondary market has sprouted in the residential Property Assessed Clean Energy (PACE) ABS sector after two years of watershed growth. A growing volume of tradeable assets is expected in 2018. But the outlook is not so rosy for every area of green securitization, writes Sasha Padbidri.

    • 07 Dec 2017
  • Investors jump on board Indian Railway’s green bond

    Indian Railway Finance Corp (IRFC) made a rare appearance in the dollar bond market on Tuesday, and its first green issue appealed to international investors.

    • 06 Dec 2017
  • Next year expect more China — in Europe

    Europe looks ripe for a wave of takeovers by Chinese companies in 2018, as the country becomes more willing to countenance dealmaking overseas after its recent pullback.

    • 07 Dec 2017
  • BNG ‘showcases pricing benefits’ of SRI bonds

    Bank Nederlandse Gemeenten on Tuesday printed “another great example” of what bankers say are the “tangible price benefits” of selling SRI bonds.

    • 05 Dec 2017
  • Nordic bank hires SSA origination head as incumbent switches to SRI

    A Nordic bank has picked a new global head of SSA origination, with the previous holder of the position set to switch to a newly created, SRI focused job within the bank.

    • 04 Dec 2017
  • Tesla offers second solar ABS deal in two months

    Investors are eager for a slice of Tesla’s latest solar securitization from its SolarCity subsidiary, said industry sources, but solar ABS volume could remain limited in 2018 unless the challenge of securitizing commercial and industrial scale solar assets can be cracked.

    • 04 Dec 2017
  • Asian sustainable lending needs a big push

    A novel green loan for Singapore-listed Wilmar has put a focus on sustainability-based borrowings in Asia — or the lack thereof. But now the agribusiness company has provided a template for such financings, the onus is on banks and borrowers to push for change in the region. The benefits may be intangible, but they will be more far-reaching than a few extra basis points on the P&L.

    • 05 Dec 2017
  • China General Nuclear fires up conventional/green combo

    China General Nuclear Power Corp (CGNPC) raised around $1.5bn from a dual currency, triple-tranche transaction on Monday, which included a green bond. The issuer’s ambition to raise funds at the long end of the curve meant it offered a juicy pick-up on the five-to-10 year dollar curve compared to other A-rated state-owned names.

    • 05 Dec 2017
  • LBBW EUR750m 0.2% Dec 21 senior green

    • 07 Dec 2017
  • France to tap GrOAT ahead of Macron summit

    France announced this morning it would tap its green bond, the famous green OAT or GrOAT, on December 7. The deal will come just before President Emmanuel Macron holds a climate summit in Paris.

    • 01 Dec 2017
  • First block trade in Aumann raises €80m for growth, M&A

    Aumann, the German engineering company specialising in wire coiling and e-motors, raised €80m of gross primary proceeds on Monday night, through an accelerated bookbuild, to fund growth and acquisitions.

    • 05 Dec 2017
  • Skanska takes out €200m green RCF with pricing benefit

    Skanska, the Swedish construction and property development company that is a leader in green building, has signed a €200m green revolving facility with four of its relationship banks.

    • 01 Dec 2017
  • Sweden sets up Sustainable Finance Centre for training and research

    Sweden has set up a Sustainable Finance Centre, as a partnership between the Stockholm Environment Institute and the Stockholm School of Economics. One of the first projects it is considering taking on is helping the International Finance Corp stimulate green bond issuance among emerging market banks.

    • 01 Dec 2017
  • Securitization could open floodgate for green finance

    ABS market participants speaking on Thursday said they are confident that the use of securitization could open up the market for financing green initiatives, but a lack of standardization and regulatory hurdles could keep the market from going mainstream.

    • 30 Nov 2017
  • Hopes of GrOAT rise ahead of Macron summit

    Green bond specialists are interested to see whether France will issue another green OAT (GrOAT) to coincide with the country's president Emmanuel Macron's One Planet Summit in December.

    • 30 Nov 2017
  • Asian sustainable lending in focus amid green loan first

    A novel green loan for Singapore’s Wilmar International has put the focus on the potential for sustainable products in Asia. While green bonds have gained popularity in the region, the loan market is still lagging far behind — but that appears to be set to change, writes Shruti Chaturvedi.

    • 30 Nov 2017
  • Reinsurance fund raises $543m of equity in wake of hurricanes

    Markel CatCo Reinsurance Opportunities Fund has raised $543m of equity capital to expand its offering, after a busy Atlantic hurricane season has increased demand for insurance-linked securities (ILS) products.

    • 29 Nov 2017
  • Renewables firm grows bond offering in busy US HY market

    TerraForm Power, the former SunEdison renewable energy yield company, priced two tranches of high yield bonds on Tuesday after increasing the overall size of the offering from $1bn to $1.2bn.

    • 29 Nov 2017
  • Indian Railway boards green bond express

    Indian Railway Finance Corp (IRFC) has mandated banks for its maiden green dollar bond, coming close on the heels of a similar issuance from peer Power Finance Corp.

    • 29 Nov 2017
  • Biocartis to raise €60m in ABB for research and development

    Biocartis, the Belgian developer of molecular diagnostics systems, has launched a €60m accelerated capital increase to finance product development, sales and marketing and the expansion of its manufacturing capacities.

    • 28 Nov 2017
  • Anton Oilfield shows high yield success story

    Anton Oilfield Services Group, rated Caa1/—/CCC, ventured into the volatile market on Tuesday to close its exchange and new money offering, taking home $300m in the process.

    • 29 Nov 2017
  • PFC plants green deal, ends 20-year dollar bond hiatus

    Indian infrastructure finance company Power Finance Corp is taking bids for a benchmark 10 year green dollar bond, returning to the international debt market after an absence of two decades.

    • 28 Nov 2017
  • Renovate brings PACE ABS as US interest overshadows Europe

    Renovate America is in the market this week with its third and final Property Assessed Clean Energy (PACE) securitization of the year, as the company eyes less participation from European buyers given a surge of interest in green ABS in the US in 2017.

    • 27 Nov 2017
  • ADB launches first gender equality bond

    The Asian Development bank has issued its first bond to finance projects promoting women’s empowerment in Asia and the Pacific.

    • 27 Nov 2017
  • Green capital relief makes first step on to EU legislative agenda

    Political calls for the bank capital system to favour green assets are intensifying. GlobalCapital has learnt that Peter Simon, the German MEP running the European Parliament’s work on a big package of banking legislation, is backing the idea.

    • 24 Nov 2017
  • Pipeline grows with greens, Portuguese bank capital

    The financial institutions bond market is set to welcome two more debut offerings in the coming weeks, with Banco Comercial Português (BCP) lining up its first tier two deal and LBBW choosing banks to arrange its inaugural green senior bond.

    • 23 Nov 2017
  • Investors state preferences on social bonds

    The nascent social bond market has been keeping the primary public sector debt market ticking over as the end of the year approaches. Demand for the asset class is swelling, and investors are beginning to make their preferences known.

    • 23 Nov 2017
  • BoE struggling to keep female staff at senior levels

    The Bank of England has published its gender pay gap report, and has reiterated that it is doing everything it can to recruit senior female talent — but sources GlobalCapital spoke to said it isn’t hiring women that is the problem, but keeping them.

    • 23 Nov 2017
  • Green BTL RMBS takes a step closer

    UK buy-to-let (BTL) mortgages are set to undergo a green revolution, with the introduction of regulations that could create a new energy efficient UK RMBS asset class, said DBRS.

    • 21 Nov 2017
  • Bazalgette cleans up 10 year demand with green bond

    Bazalgette Finance issued its first benchmark bond on Wednesday, when it found itself the only corporate issuer in Europe on the day before the US Thanksgiving holiday.

    • 22 Nov 2017
  • Investors flock to BHH’s negative yielding Pfandbrief

    Berlin Hyp (BHH) enjoyed tremendous demand for the first negative yielding covered bond in over a year, as international real money investors took advantage of the compelling relative value on offer to pile into deal and make it one of the most oversubscribed of the year.

    • 21 Nov 2017
  • Investors hungry for more social bonds

    The nascent social bond market is keeping the primary public sector debt market ticking over as the end of the year approaches. Demand for the new asset class is swelling, and investors are beginning to make their preferences known.

    • 22 Nov 2017
  • ECM banks eye prizes from Norway's fossil fuel divestment

    Equity capital markets bankers are eyeing with interest the possibility that Norway’s $1tr sovereign wealth fund might sell all its holdings in oil and gas stocks, potentially creating opportunities for block trades or other structured transactions.

    • 17 Nov 2017
  • China’s Tianqi Lithium opens debut offshore bond

    Chinese lithium producer Tianqi Lithium Corp is bringing some diversity to the debt market with its inaugural offering of a dollar bond.

    • 20 Nov 2017
  • EIB, China start harmonising green bonds

    A technical document designed to connect China’s green bond market with that of the Western world could also be a first step in building a globally coherent green bond market, in which bonds of different kinds are more comparable.

    • 16 Nov 2017
  • Incredible bulk of demand for hybrids turns a shade of green

    The supply of hybrid bonds continued this week, with an additional feature — both hybrids sold this week were certified as green bonds.

    • 16 Nov 2017
  • High yield without sin: investors are beginning to try

    The march of responsible investing took a step into the high yield bond market this week, as both M&G and Candriam launched funds that will use environmental, social and governance factors to influence their investment choices.

    • 16 Nov 2017

SRI 2017 report

SRI 2016 report

China Green Finance Roundtable 2017

China Green Finance Roundtable

  • Waking up to reality: the race to put numbers on climate risk

    Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.

SRI 2015 report

Sustainable and Responsible Capital Markets special report

SRI 2014 report

SRI special report

Global Green Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Agricole CIB 7,965.23 62 7.01%
2 HSBC 7,415.56 49 6.52%
3 BNP Paribas 5,849.54 39 5.15%
4 JPMorgan 5,394.02 37 4.75%
5 Citi 5,031.45 24 4.43%