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BNP Paribas, CS and ING to cut Amazon oil financing

SRI / Green Bonds

BNP Paribas, CS and ING to cut Amazon oil financing

Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.

  • Energy firms facing insolvency bank on ABS

    ABS

    Energy firms facing insolvency bank on ABS

    Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.

  • Santander pins corporate finance strategy on ESG

    Southpaw

    Santander pins corporate finance strategy on ESG

    Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.

  • Buyers queue down the aisle for Tesco SLB

    High Grade

    Buyers queue down the aisle for Tesco SLB

    Tesco, the UK grocer, made a storming debut in the nascent sustainability-linked bond market on Wednesday, encouraging bankers who already expect corporate issuance using the novel structure to rocket this year.

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Responsible investing

  • BNP Paribas, CS and ING to cut Amazon oil financing

    BNP Paribas, CS and ING to cut Amazon oil financing

    Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.

  • Asset owners to attempt daring, immediate emission cuts

    Asset owners to attempt daring, immediate emission cuts

    One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.

  • Passive investors join green debt caravan

    Passive investors join green debt caravan

    Passive investors are expected to become a bigger force in environmental, social and governance debt investing this year, as index providers and asset managers expand the range of products that apply ESG criteria to bonds.

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