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Sustainable finance chief among those affected
Sentiment towards affected major banks improves but major ratings agency judges overall situation credit negative
DCM changes follow Harding-Jones taking over IB business
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A new acronym is joining the sustainable finance lexicon — the SRD. The EU’s Sustainability Reporting Directive will become the cornerstone of corporate reporting on sustainability, which is the foundation of responsible investing. A draft of it has been leaked, showing that it will impose much stricter rules on companies about reporting their environmental and social impacts, but also contains loopholes.
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Goldman Sachs has poached Srijith Nair from Barclays to lead its southeast Asia financial institutional group business.
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Vi Davda has been promoted to a new role of head of UK debt capital markets at ABN Amro, as the Dutch bank looks to expand its business across UK financial institutions and corporate clients.
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The European Commission is set to put forward a new solution to the intense battle over the EU's sustainable finance Taxonomy, between green finance supporters and EU member states that want to safeguard their plans to use gas, GlobalCapital has learned. This would appear to involve leaving gas out of the sustainable category of the Taxonomy, as environmentalists have demanded, and making a "separate legislative proposal" to deal with gas and nuclear power.
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New Zealand could become the first country to make climate reporting obligatory for financial firms, after lawmakers passed an amendment on Thursday requiring them to disclose climate change risks.
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Several European banks’ noses were put out of joint this week by research from Jefferies, which suggested a very different ranking of banks’ ESG characteristics from that investors usually get from rating providers. The study argued commercial ESG ratings on banks are not fit for purpose.