Outrage at the destruction of the Amazon rainforest — which often involves dispossessing indigenous people — is common among capital markets executives. But few realise that their own firms are financing it.
The threat to biodiversity is moving up the agenda of financial markets, but banks are woefully unprepared, a new study has found — in fact, they are actively financing what scientists believe is a mass extinction of species.
A Climate Bonds Initiative and Credit Suisse document on ‘financing credible transitions’ may help to create a market standard for judging when a company is moving to a net-zero carbon future. One of its creators said that, in theory, firms could raise dedicated transition equity as well as debt.
Capital markets players have a variety of stances on the forthcoming US presidential election. A survey by UBS this week found 51% of wealthy US investors wanted Joe Biden to win, while 55% of business owners favoured Donald Trump.
Take advantage of low borrowing rates to enact ambitious social programmes. That is economists' message to governments in the developed world right now. The message could also apply elsewhere.
GlobalCapital has argued that it is not the ECB’s job to exclude individual borrowers’ bonds from its list of repo-eligible securities on environmental grounds, in response to our call for the Province of Alberta’s debt to be removed from its list of eligible marketable assets (EMA). We maintain that the ECB has plenty of justification to exclude this borrower.
An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets, as a punishment for its support for polluting industries. But while it is a laudable aim, it is not practicable.
Barclays was met with strong demand for its second green senior deal in the sterling market on Tuesday, allowing the bank to shave 25bp off initial guidance and price through fair value.
Enav, the Italian air navigation company, has signed €150m of sustainability-linked loans, as a rise in coronavirus cases globally has heaped even more pressure on the airline industry’s outlook for next year.
Take advantage of low borrowing rates to enact ambitious social programmes.
International Finance Facility for Immunisation (IFFIm) hit the market on Thursday with a $500m three year no-grow — its first dollar syndication since 2017.
A Climate Bonds Initiative and Credit Suisse document on ‘financing credible transitions’ may help to create a market standard for judging when a company is moving to a net-zero carbon future.
South Korea’s Kookmin Bank used a Covid-19 sustainability bond label for its $500m bank capital deal on Wednesday.
Airbus, the French aerospace company, has signed a €6bn sustainability-linked revolving credit facility, with the borrower doubling the size of its bank line after raising billions in emergency liquidity in the spring.
This week in Keeping Tabs: the role of debt management offices in green policy, and an update on EU countries' use of capital markets.
Outrage at the destruction of the Amazon rainforest — which often involves dispossessing indigenous people — is common among capital markets executives.
The threat to biodiversity is moving up the agenda of financial markets, but banks are woefully unprepared, a new study has found — in fact, they are actively financing what scientists believe is a mass extinction of species.
Deutsche Bank has grown its environmental, social and governance (ESG) team in Asia Pacific with a new hire.
UK banks and building societies are struggling with difficult aspects of incorporating climate change into their risk management, as demanded by the regulator, a PwC survey has found.
One by one, banks are taking responsibility to help fight climate change, by setting targets to eliminate carbon emissions from their whole financing portfolios by 2050.
HSBC provided $1.8bn of financing to high carbon companies including Kepco, which is developing new coal plants, in just five deals in the past four months, as it prepared to announce its “net zero ambition” on October 9, an NGO has alleged.
Capital markets players have a variety of stances on the forthcoming US presidential election.
GlobalCapital has argued that it is not the ECB’s job to exclude individual borrowers’ bonds from its list of repo-eligible securities on environmental grounds, in response to our call for the Province of Alberta’s debt to be removed from its list of eligible marketable assets (EMA).
Greencoat Renewables, the Irish renewable infrastructure company, has signed a €200m term loan, as it looks to manage its longer duration leverage.
Europe’s bevy of recovery lending packages is undoubtedly a welcome gesture, but it may remain just that — a gesture.
Soltec Power Holding, the Spanish maker of solar trackers for renewable energy generation, has narrowed the price range for its IPO on the Spanish Stock Exchange, after the deal was covered shortly after the launch of bookbuilding earlier this week.
Scatec Solar, the Norwegian solar energy company, raised Nkr4.75bn ($512m) through an equity placing on Tuesday night.
Investors wanting to make a social impact with their money are often caught between two pitfalls.
This week in Keeping Tabs: the role of debt management offices in green policy, and an update on EU countries' use of capital markets.
Take advantage of low borrowing rates to enact ambitious social programmes.
Capital markets players have a variety of stances on the forthcoming US presidential election.
GlobalCapital has argued that it is not the ECB’s job to exclude individual borrowers’ bonds from its list of repo-eligible securities on environmental grounds, in response to our call for the Province of Alberta’s debt to be removed from its list of eligible marketable assets (EMA).
Asian loans bankers are calling for relaxed restrictions on green and sustainability-linked loans, hoping for more business opportunities from the sector.
An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets, as a punishment for its support for polluting industries.
This week in Keeping Tabs: the role of debt management offices in green policy, and an update on EU countries' use of capital markets.
Outrage at the destruction of the Amazon rainforest — which often involves dispossessing indigenous people — is common among capital markets executives.
JPM names new ECM, DCM heads – Deutsche hires for ESG
GlobalCapital has argued that it is not the ECB’s job to exclude individual borrowers’ bonds from its list of repo-eligible securities on environmental grounds, in response to our call for the Province of Alberta’s debt to be removed from its list of eligible marketable assets (EMA).
An ESG think tank believes that the European Central Bank should drop Alberta’s euro bonds from its list of eligible marketable assets, as a punishment for its support for polluting industries.
Hong Kong’s securities watchdog has fined Goldman Sachs $350m for regulatory failures in its work on bonds issued by the scandal-hit Malaysian state investment fund 1MDB, part of a multi-billion-dollar settlement with global regulators.
A legal ruling that appears to cast doubt on the independence of Ukraine’s anti-corruption unit has delayed a loan from the IMF and comes in the wake of a row over a decision to ‘reprimand’ two independent members of the country’s central bank
China’s State Administration for Market Regulation (Samr) has imposed a Rmb2m ($298,000) fine on each of Luckin Coffee’s two main operating entities in China and three other companies, the highest possible penalty under the country’s competition law.
Aedifica, the Belgian real estate company that specialises in care homes for the elderly, has secured an 83.7% take-up for its €459m rights issue.
Gland Pharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, has won approval for its IPO from India’s securities regulator, according to a source close to the deal.
Suriname’s new government said on Thursday that it would not make a coupon payment due next Monday on its $550m of 9.25% 2026s as it prepares for restructuring discussions.
Unibail-Rodamco-Westfield’s rights issue is under increased threat from a group of rebel shareholders that disagree with the company’s vision to reset its business.
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