Banks sued over climate as African govvies return
◆ Are lawsuits about funding polluters the next big risk for banks? ◆ Sub-Saharan Africa issuance returns... ◆ ... but will any follow Ivory Coast's lead?
The Dutch branch of Friends of the Earth is suing ING over its roll in financing pollution. It is the latest in what may become a wild spread of lawsuits brought against banks — and governments and corporates, for that matter — as environmental bodies seek to enforce tougher timelines for transition.
We look at what this means in terms of being a big risk for the banking sector and analyse how it might develop.
Meanwhile, Ivory Coast issued a bond this week, to much acclaim. It was the first African sovereign syndication since April 2022. But does this mean African governments have bond market access again? And if so, do they even need it?
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