Lead bank lauds Russian Rail’s green credentials after investor scepticism

Alamy_Railway_Russia_230x150
By Lewis McLellan
20 May 2019

Russian Rail’s debut green Eurobond last week met with strong demand, but some investors had reservations about buying green bonds from a company owned by the Russian state and used to transport fossil fuels. Antonio Keglevich, UniCredit’s head of sustainability bond origination, responded to the criticism.

A green investor who considered the Russian Rail deal said: “The reality is this railway company is owned by the Russian government, and they are doing nothing about climate change at the moment.” He added that almost 50% of Russian Rail’s cargo is fossil-fuel related and added “there’s ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial