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Paris-area public transport authority le-de-France Mobilits announced that it has raised 1 billion in a new greenbond offering, the first by a public entity to be issued under the European GreenBond (EuGB) Regulation.
Global energy and electricity provider Iberdrola announced that it has raised 400 million in a new greenbond offering, with the bonds linked to the companys share price, enabling investors to benefit from the performance of its shares. The coupon on the bond was set at 1.5%. billion of greenbonds, 15.6
From the ranking leader Hydro-Qubecs $155-billion green-energy expansion plan, to 12th-place Bpifrance banks financing solar and wind power loans, the inaugural list shows how investments in renewable energy pay off. billion kroner in profit for 2024. Now, the company is boosting its investments in windenergy.
Global energy and electricity provider Iberdrola announced that its has raised $525 million in a new greenbond issuance through its U.S. Overall, Iberdrola has approximately €23 billion in greenbonds outstanding. network business.
In response, Kenya and other African pioneers are exploring alternative financing mechanisms such as greenbonds and debt-for-nature swaps. The African Development Bank estimates that Africa incurs annual losses of between $7 and $15 billion (all dollar figures are U.S.) The bond, valued at 4.3 billion shillings ($42.5
Oesterreichische Kontrollbank AG Sustainable development bank Oesterreichische Kontrollbank (OeKB) or Austrian Control Bank is a special-purpose financial institution owned by Austrias main banks. The company recently closed a greenbond offering that will help it transition to predominantly renewable sources of power.
Asset managers Head of Fixed Income hopes market expansion will eliminate need for the purely greenbond-focused vehicle within the next decade. Niche to mainstream evolution Storebrand stated that the fund was the first commercial greenbond fund, building on the first ever greenbond issued by the World Bank in 2008.
For example, the Global Finance Group at the ECI, Green Finance Institute and Impax Asset Management published a report in July 2023 on adaptation as an investable asset class. The Climate Bonds Initiative, for example, recently expanded its greenbond taxonomy to cover adaptation and resilience.
PNC Bank will receive approximately 148 million kilowatt hours of energy per year through its retail agreement with Constellation, with that energy matched by Green-e® Energy Certified Renewable Energy Certificates (RECs) sourced from other renewable facilities located throughout the U.S. Environmental Protection Agency.
The pullback threatens to erode years of progress, which has made Europe the leading market for sustainable funds , greenbonds and other responsible investments, and jeopardizes the capital needed for the EUs ambitious climate goals. Here are the main rollbacks proposed in the initial package.
Nordic Investment Bank (NIB) has raised NOK2 billion ($175 million) from its first greenbond of 2025, as the issuer kick-starts its long-standing NIB Environmental Bond (NEB) programme following record issuance in 2024.
billion) greenbond persisted after the deal was more than twice oversubscribed by investors, with the German development bank already reaching its 2024greenbond funding target. KfW reported the 'greenium' on its €3 billion ($3.3
Aareal Bank is planning to issue its third benchmark-sized greenbond in 2024, after the German property lender updated its green finance framework with new and tightened green building criteria.
billion) from an "extraordinary" greenbond of 2024, which the German development bank said reopens the discussions around the 'greenium' for greenbonds. KfW has raised €4 billion ($4.3
KfW has added biodiversity to its greenbond framework as the German development bank aims to raise up to €13 billion ($14 billion) from its green-labelled issuance in 2024.
Originally published on bloomberg.com Green finance regulatory developments The 2023 United Nations Climate Change Conference (COP28) galvanized the energy around the global green finance agenda, setting the stage for a busy 2024 of green-related rulemaking and policy guidance for the financial services sector.
Nordic Investment Bank (NIB) is on track for record greenbond issuance in 2024 following the latest deal from the long-standing issuer, with its updated framework also expected in the "coming weeks".
German development bank KfW has raised CNY2 billion ($275 million) from its first Chinese yuan-denominated greenbond deal of 2024, Environmental Finance has learned - consolidating its position as the largest foreign issuer of green notes in this currency.
The new financing follows the company’s announcement in 2021 of plans for its financing structure to have an increasingly higher percentage of green and sustainable products, estimated to account for nearly two-thirds of its debt by 2025. Iberdrola said that it expects to update its investment plan in March 2024.
This week in ESG news: IBM study shatters “myth” that ESG harms profitability; PwC boosts nature and biodiversity capabilities; Starbucks certifies 3,500 environmentally sustainable stores; Hong Kong to require all issuers to report on climate; EU lawmakers adopt rules tackling deforestation in supply chains; Schneider Electric launches (..)
This week in ESG news: EU adopts new law against greenwashing; Walmart reaches 1 billion ton supply chain emissions reduction milestone; S&P forecasts $1 trillion sustainable bond market in 2024; Airbus, TotalEnergies launch sustainable aviation fuel partnership; Verizon invests $1 billion in renewable energy; EU lawmakers agree to certification (..)
The labelled bond market – including green and social bonds – has grown rapidly in recent years, reaching US$5.1 trillion in the first half of 2024, or 4.2% of global debt issuance, according to a recent Climate Bonds Initiative report. In contrast, sustainability-linked bond (SLB) volumes dropped 45% to US$4.6
Biodiversity’s bond boom – Demand for sovereign debt is already soaring this year on expectations of falling interest rates, with France already benefiting from a twelve-fold oversubscription to its fourth greenbond earlier this week. billion over four issues.
As of January 2023, greenbonds had raised US$2.5 trillion globally, according to the World Bank from a mere US$15 billion in 2013. Part-credit for this meteoritic growth has been given to the GreenBond Principles (GBP) launched in 2014. we combine this so the guidance draws on that ”.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supply chains and lending/investment portfolios are often more complex than for other industries. Finance climate action Financing climate action can take many forms, such as greenbonds or sustainability-linked loans.
Just one year ago, a European Central Bank report, which addressed how the European banking sector manages climate and environmental risks, found that most banks do not have concrete plans to start preparing for climate change. The question is: How soon will this change? Changing ESG Landscapes. EU TAXONOMY (Effective Jan.
The CSRD has already been adopted and will kick in from reporting year 2024. The EU Green Taxonomy is also instrumental for the upcoming EU GreenBonds Standard. As the cornerstone of many current and upcoming regulations, the quality and comparability of the EU Green Taxonomy’s reporting data is crucial.
THE GREEN BANKER Mitch McEwen 27, Montreal Senior manager, Enterprise Sustainable Finance TD Bank Group Mitch McEwen had always envisioned a career for himself in conventional finance. But studying abroad while the Paris Agreement was being adopted changed everything.
How can this be in 2024? And governments and multilateral development banks have never made the issue a real priority. However, there are other funding solutions, such as providing impact finance to clean cookstove manufacturers and distributors through equity investments or greenbonds. billion annual funding gap.
Meanwhile, Senators Joe Manchin and John Barrasso reached a deal after two years of negotiations, resulting in the introduction of the Energy Permitting Reform Act of 2024 – due to speed up the nation’s energy and infrastructure projects, and improve its ability to build out power lines by shortening regulatory approvals.
Among the financial instruments most used by the companies, greenbonds (53%) lead, followed by sustainability-linked bonds (30%) and loans (25%). Moreover, 25% of the companies have sought support from DFIs and multilateral development banks such as IFC, EBRD and ADB.
Pioneering microfinance firms such as Grameen Bank in Bangladesh received subsidies and initial funding from development finance institutions and foundations, which allowed them to gradually scale their businesses. The bank has achieved a recovery rate of over 96%, which is significantly higher than traditional banking systems.
Climate risks and geopolitics were both in the limelight, and often clashing, in 2024 as a myriad of questions were raised concerning the future of sustainability efforts. In 2025, there is likely to be much scrutiny around US President Donald Trumps anti-green agenda. This requires a multi-stakeholder approach.
Aconsequence of this pushback came on New Years Eve, when global financial behemoths Bank of America and Citigroup left the Net-Zero Banking Alliance, one of the investment industry climate coalitions championed by the United Nations. In 2024, large U.S. In 2024, large U.S. What does this mean for the year ahead?
In Canada, cities like Toronto, Montreal, and Vancouver are leading the way in disclosing climate-related financial risks and leveraging municipal greenbonds, fixed-income investments issued by cities to finance infrastructure resilience and climate initiatives. But the heightened risk is still out there.
India’s central bank is expected to raise $3 billion through sale of greenbonds over the next 12 months. The Reserve Bank of India may auction greenbonds worth $3 billion sometime after September this year.
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