Latest stories on Socially Responsible Investments

  • Codes of conduct: breathing life into dead words

    Are professional codes of conduct shining lodestars for how to behave in financial markets — or dusty screeds of boilerplate that no one can remember? That is what a group of enthusiasts are trying to discover, in the hope that such codes, if used in the best way, could genuinely improve behaviour.

    • 15 Jul 2018
  • Portugal’s Panda ‘being finalised’, green a possibility

    Portugal’s planned Panda bond is “being finalised” and the sovereign is “looking closely” at the green bond market, according to the country’s minister of finance.

    • 12 Jul 2018
  • Spanish solar firm sells €97m block to fund projects

    Solaria, the Spanish solar energy company, sold a €96.8m block of shares to fund the development and execution of its photovoltaic projects in Spain and in order to continue broadening its portfolio of projects under development.

    • 13 Jul 2018
  • EWP throws off market volatility for $500m trade

    Korea East-West Power Co (EWP) raised $500m from a sustainability bond on Thursday that proved popular both in the primary and secondary markets, reflecting investors’ eagerness for defensive names.

    • 13 Jul 2018
  • Siro loan sees green as instruments grow

    Spain’s Grupo Siro has signed a €240m loan with sustainable features, as green financing continues to make a path into the syndicated loan market.

    • 12 Jul 2018
  • CleanFund launches debut commercial PACE deal

    CleanFund Commercial PACE Capital has launched its maiden asset-backed securitization.

    • 11 Jul 2018
  • Lat Am solar company sells Brazilian green bond

    Faro Energy, which develops solar energy projects in Brazil and Colombia, has sold a green bond to finance distributed solar power projects, said the Climate Bonds Initiative (CBI).

    • 11 Jul 2018
  • Finding the social good in NPLs

    As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?

    • 10 Jul 2018
  • Panda sale to build Hang Lung’s green credentials

    Hong Kong-based Hang Lung Properties is hitting the Panda bond market for the first time, as it seeks to finance the construction of two shopping malls in the mainland. The issuer says the new buildings will be environmentally friendly, making the Rmb1bn ($150.9m) trade one of the few green Panda deals.

    • 10 Jul 2018
  • SBI readies green bond debut

    State Bank of India is finally courting investors for its maiden green bond, which has been planned for more than a year.

    • 10 Jul 2018
  • Ex-Société Générale deputy markets head joins impact investing firm

    David Escoffier, former deputy head of global markets at Société Générale and former chief executive at Newedge, is joining impact investing firm Eighteen East Capital as its fourth partner.

    • 09 Jul 2018
  • EPM bonds weaker after Hidroituango resolution

    Colombian utility Empresas Públicas de Medellín (EPM) saw its bond prices slide at the end of last week after the environmental licencing authority issued a resolution appearing to suspend certain activities at the landmark Ituango hydroelectric project.

    • 09 Jul 2018
  • Greencoat Renewables returns to ECM with €250m share issuance programme

    Greencoat Renewables, the Irish wind farms fund managed by Greencoat Capital, has kicked off its first follow-on offering since its €270m flotation on the London Stock Exchange almost a year ago.

    • 09 Jul 2018
  • BPCE brings its biggest social Samurai bond yet

    BPCE was active in the Samurai market this week, selling ¥119.5bn ($1.08bn) of notes, the vast majority of which were in the senior non-preferred format and will be used to finance eligible social loans. The French bank is also drafting a new framework for green bonds and two types of social bond.

    • 09 Jul 2018
  • Dysfunction paralyses Green Climate Fund

    The governance problems at the United Nations’ Green Climate Fund hit a new low this week when a four day board meeting was almost entirely taken up with procedural wrangling and failed to reach agreement on most of the agenda.

    • 05 Jul 2018
  • Green currency debuts for supra pair

    A pair of seasoned green bond issuers brought deals in the format this week — but each opted to print in a currency in which it had not sold green bonds before.

    • 05 Jul 2018
  • Glencore fights again for IG status as its CDS gaps out

    It is common for a firm to have an association with an adjective. The description is often derogatory, so acquisitive companies are often said to be rapacious. For Glencore, the commonly used adjective is secretive.

    • 05 Jul 2018
  • Fresenius finds demand for its paper in rude health

    German healthcare company Fresenius this week opted to issue a €500m no-grow seven year trade following a roadshow, a choice which rewarded it with an order book that was more than five times subscribed.

    • 05 Jul 2018
  • Lietuvos Energija €300m 1.875% Jul 28 green bond

    • 05 Jul 2018
  • Banks dive into biotech as first IPO wave hits HK

    The Hong Kong Stock Exchange’s revolutionary change to its listing regime for biotechnology companies is starting to pay off, as the pipeline of pre-revenue firms looking to go public builds. But there are numerous challenges ahead, not least in understanding the sector and the risks involved. Jonathan Breen reports.

    • 05 Jul 2018
  • Green Climate Fund loses chief amid board deadlock

    Howard Bamsey has stepped down as executive director of the Green Climate Fund with immediate effect, at the end of a four day board meeting described as "very difficult and disappointing" by the organisation's co-chairman.

    • 04 Jul 2018
  • ADB tightens with debut euro green bond

    Asian Development Bank picked up €600m and was able to tighten pricing as it sold a green bond in euros for the first time.

    • 04 Jul 2018
  • FCA plans to reintroduce full register of UK financial pros

    The UK’s Financial Conduct Authority proposed on Wednesday to create a ‘directory’, a new public register of financial services staff. The FCA Register, which fulfilled a similar role, was drastically limited in scope following the introduction of the Senior Managers Regime in March 2016, but the new directory could fill in some of the blanks.

    • 04 Jul 2018
  • Lietuvos Energija makes use of green credentials to price in tough market

    Lietuvos Energija on Tuesday made full use of its green credentials to price a €300m bond with a much smaller new issue concession than has been seen on the majority of recent new issues.

    • 04 Jul 2018
  • Pricing in climate change cannot solve it

    A huge push is on to get capital markets to face up to climate change and start pricing in the risks. But there is a paradox: the more they get priced in, the harder it will get for those most vulnerable.

    • 03 Jul 2018
  • Social bonds: a young market for the old

    Regional governments in several European countries could find problems funding 'the high cost of providing long term care (LTC) for their ageing populations' in the coming years, according to a Moody’s report on Tuesday. If ever there was a perfect market to be funded by the burgeoning social bond sector, this is it.

    • 03 Jul 2018
  • Ares to sell half of Freddie B-piece holdings

    Ares Management is marketing $460m of seasoned fixed-rate subordinate B-pieces from Freddie Mac deals in the secondary market.

    • 03 Jul 2018
  • Supras dip into new SRI currencies

    A pair of supranational issuers are this week bringing new currencies to their green funding offerings.

    • 03 Jul 2018
  • Lietuvos Energija brings green bond to arid market

    Lietuvos Energija, a quasi-sovereign utility company that is fully owned by the government of Lithuania, was on track this week to price its second green bond. The deal will also mark the first trade from central and eastern Europe in over two weeks and offers an over 100bp pick up over the sovereign.

    • 03 Jul 2018

 

Join our SRI / Green Bonds LinkedIn group!

LinkedIn

 

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 Bank of America Merrill Lynch 5,648.43 21 7.57%
2 Credit Agricole CIB 5,070.38 26 6.80%
3 BNP Paribas 4,837.99 21 6.49%
4 Citi 4,561.72 19 6.12%
5 HSBC 3,923.49 28 5.26%