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Long decision process leads to elevation of loan market veteran
Treasury secretary’s speech called for big changes which other countries may not support
Private credit firms and banks have reasons to tango — but Lazard is not a lending bank
Treasury secretary Bessent says US wants to stay in but reform international financial institutions
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The polite world of sustainable finance has collided with the ugly reality of politics in the past week, as open strife has broken out over the European Union’s sustainable finance legislation, especially the Taxonomy. Conservative and progressive elements are battling over a host of issues, above all whether gas power should ever be classed as sustainable, and the validity and even legality of the Taxonomy is being called into question. -
A leaked letter from the European Parliament, seen by GlobalCapital, shows the Parliament has joined in the debate about the Sustainable Finance Disclosure Regulation, which has been watered down to make life easier for institutional investors. The Parliament is calling for the rules to be strengthened, to help savers know which investments are green and ensure compliance does not become just a “tick box exercise”.
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An innovative collaboration between six organisations from different sectors has led to the creation of the Subnational Climate Finance Initiative, which will work with local governments in developing countries to fund green infrastructure. The scheme highlights the value — but also the difficulty — of blended finance.
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The reliability of Science-Based Targets — one of the most promising systems for helping companies decarbonise — has been questioned after RWE, the German power company, was excluded by Axa, the French insurance group, for being too wedded to coal, despite having an approved SBT.
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Natixis has promoted two bankers to head its acquisition and strategic finance business, following the departure of Fabrice Croppi to become head of investment banking.
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MUFG has for the first time chosen a single leader for its banking and securities divisions in EMEA. John Winter will take the post from April 1, meaning that the most senior executive in EMEA will be non-Japanese for the first time.
