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

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 ...

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