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Deutsche Bank announced today that it has raised €500 million through its first-ever social bond offering, with proceeds aimed at supporting the bank’ssustainable asset pool which provides financing for areas including affordable housing, and access to essential services for elderly or vulnerable people.
World Bank Group member the International Finance Corporation (IFC) announced today that it has raised $2 billion in a new social bond offering, with proceeds aimed at funding projects supporting low-income communities in emerging markets.
Tokyo-based banking group Mitsubishi UFJ Financial Group (MUFG) announced the release of its new Sustainable Finance Framework, setting out eligible categories of environmental and social projects funded through the bank, financed through the issuance of Green, Social, and Sustainability bonds and loans.
The ADB is a regional multilateral development bank that provides loans, technical assistance, grants, and equity investments aimed at promoting social and economic development in Asia and the Pacific, and to eradicate extreme poverty.
The deal also marks the first social external commercial borrowing (ECB) loan out of India. Proceeds from the social loan will go towards financing affordable housing loans in India, aligned with Reserve Bank of India (RBI) guidelines.
But issuance of social, sustainability and sustainability-linked bonds—which reference specific key performance indicators, or KPIs—grew fastest (Display). Lamdouar holds a BSc (Hons) in banking and international finance from Cass Business School. Green bonds, which fund particular projects, continued to dominate.
COP29 Trainings Our sustainability and ESG experts have also contributed significantly by conducting multiple trainings for the volunteers at COP29. These sessions focused on inclusivity, socialsustainability, and environmental sustainability, benefiting around 2,000 volunteers.
Tangible progress could be seen on multilateral development banks’ reform and climate finance commitments at the World Bank and IMF’s Spring Meetings, according to E3G Senior Policy Advisor Laura Sabogal Reyes. Modifying the bank’s mission statement to incorporate sustainability objectives was an important achievement for Banga. “It
The Government of India will issue its first-ever green bond this month, according to an announcement by the Reserve Bank of India, with plans to raise approximately US$2 billion to support green infrastructure projects aimed at reducing the carbon intensity of the economy.
Active Super has long-been a leader across Australia when it comes to environmental and socialsustainability. Simon Gorski, Lendlease Europe’s Managing Director, Construction noted: “We have a proven track record of delivering projects that can deliver economic, social and environmental benefits for the communities where we work.”.
Shades of Green’s Second Party Opinions (SPOs) are independent, research-based assessments on companies’ and governments’ green, sustainability and sustainability-linked debt issuances and frameworks, evaluating alignment with market standards, typically provided before any borrowing is raised. trillion now compared to $1.5
Indeed, sustainable finance veteran Paul Watchman (an advisor to UNEP FI) argues "the concept of fiduciary duty is organic, not static. It will continue to evolve as society changes, not least in response to the urgent need for us to move towards an environmentally, economically and sociallysustainable financial system."
He continues: “Our approach to nature is closely linked with our ambitions on climate, circularity, socialsustainability and food systems. World Bank, Washington, DC. IPBES secretariat. IPBES secretariat, Bonn, Germany. 6 Johnson, J.A. 7 WEF, 2020
If a company can get 10% of its financing from a SWF and 30% from a development bank, then it becomes much easier for the business to attract the rest of the financing from a private capital source,” said Nacvalovaite. Importantly, having the backing of an SWF opens up the potential for an enterprise to access blended finance. “If
About 40% of the companies surveyed do not know how to estimate the extent of their exposure to climate risks, and only 17% have approached banks for financing related to sustainability projects.
By 2050, OP Corporate Bank is committed to carbon neutrality in its corporate loan portfolios, and in funds managed by OP Asset Management and OP Fund Management Company.
The Sustainability-linked Sovereign Debt Hub was launched last September by the World Bank, the European Bank for Reconstruction and Development and the Asian Infrastructure Investment Bank, with support from the International Capital Market Association and the Climate Bonds Initiative.
The importance of DEI-related issues to asset owners was underlined this week when Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, published its expectations for investee companies. . Rights CoLab said: “Investors themselves are fully aware of the problem.
And the IFC’s Performance Standards on Environmental and SocialSustainability have become industry practice across the DFI community when it comes to assessing and managing environmental, social and governance issues. As both the scale and the need for DFI TA programmes continue to grow, it’s time to start this conversation.
Sovereign green, social and sustainable bond (GSS) issuance has grown rapidly in recent years, but these bonds still only account for 5% of total outstanding sovereign debt. Poland and France were the first governments to issue green bonds in 2016 and 2017 respectively.
Despite development barriers, opportunities are emerging for investment in sustainable assets in growing market. Africa has seen rapid growth in issuance of green, social, sustainability and sustainability-linked (GSS+) bonds and could prove enticing to investors, in spite of existing challenges. billion (US$12.7
The organisations concerned are Dutch bank Rabobank, Mexican development institution FIRA, multilateral funder the Global Environment Facility (GEF), Mauritian private equity group Phatisa, Norwegian chemical company Yara, US asset manager Nuveen Natural Capital and Dutch group Signature Agri Investments. Equivalent to 40 power stations”.
One of these – already firmly on the agenda at the UN summit and elsewhere – was the alleviation of poverty through reform of multilateral development banks , partly to boost their catalytic relationship with private investment.
The World Bank estimates that the combined crises of the last two years – the pandemic, rising prices and now the war in Ukraine – will lead to an additional 75 to 95 million people in extreme poverty in 2022. A Model for the Future: Bringing Results-Based Funding to Scale.
Kristensen, who joins from a similar role at Federated Hermes – following spells at Jyske Bank and Neuberger Berman – reports to Client Group Co-head Paul Voûte, who has made deepening institutional relationships a priority since taking up his role in 2022. “It’s fair to say there is a certain cultural fit across the region,” he said.
Banks and financial institutions, for example, will need to observe the complex and evolving web of new sanctions with more rigour than some have managed their compliance obligations in the past. Sectors dependent on discretionary spending suffered, but defensive investments will not be comfortable either.
Mark Allison , Leader of Merton Council, and Sophia Morrell , a Director at UK Finance, a trade association for the UK’s banking and financial services industry, have been appointed to the London Pensions Fund Authority (LPFA) Board.
“It is about protecting investors, so that when they think what they are buying is a sustainable investment, it really is,” said Elena Tedesco, Portfolio Manager at Vontobel, the private bank and asset management group. “It It is the same product protection, in a way, as that enjoyed by champagne.”.
Additionally, UKSIF said there may be a case for differentiation in remuneration plans between staff within financial and non-financial companies, as there remains a question around the extent to which financial services firms should base executive pay on outcomes “that they ultimately may not be able to control in comparison to governments and real (..)
Deutsche Bank announced the release of a new Sustainable Finance Framework, outlining the methodologies and procedures, including the environmental and social criteria and categories, used by the bank to classify transactions and financial products as “sustainable.”
Looking forward, WELL is poised for even faster adoption, bolstered by signature partnerships, global policy advancements and an increased focus on socialsustainability. Beyond formal reporting, WELL has also been included in over 200 ESG, CSR and sustainability reports since 2018.
While many companies, particularly in the fossil fuel and banking sectors, resist any major departure from their lucrative business-as-usual path, the leaders are doubling down on sustainability. In the 2024 Global 100 ranking, the top-ranked firms allocated 55% of their investments to sustainable projects, up from 47% the year prior.
This is particularly important with the major gatekeepers of Canadian capital, our big banks, which will make or break Canadas achievement of net-zero depending on whether they continue to allocate capital to the polluting status quo or else pivot quickly to financing climate solutions.
This year's programming will be centred around strategies to embed ESG and socialsustainability practices into an organisation's DNA, building resilience and the future of healthy workplaces.
The European Central Bank (ECB) announced today the publication of a series of new statistical indicators aimed at helping to analyze climate-related risks in the financial sector and track the progress of the sustainable finance market.
Sustainable bond issuance outperformed the broader market in the second quarter of 2022, reaching a record 15% of global total issuance, according to a new report from Moody’s ESG Solutions. The post Sustainable Bond Volumes Outperform Broader Market to Reach Record Share: Moody’s appeared first on ESG Today.
Despite a booming sustainable debt market – with aligned green, social, sustainability, sustainability-linked and transition bond volume expected to hit US$1 trillion by year-end – the focus has been primarily on mitigation efforts through ‘pure play’ green sectors and assets, with less emphasis on adaptation and resilience.
For the report, Sustainable Fitch examined the green, social, sustainability and sustainability-linked labeled bonds rated by its ESG Ratings service, with a focus on the instruments’ Use of Proceeds’ contribution to green and social impact, and the level of transparency and ambition in project or target selection.
An important key to unlocking that finance lies in green and sustainable emerging market bonds, which promise lenders both returns and the opportunity to invest in projects with an ESG impact. Rich countries have since struggled to deliver on this pledge, but the private sector have begun to step in.
Our sustainable debt markets are designed to highlight sustainable investment opportunities to investors with a green, social or sustainable investment agenda. In addition, we launched the product with a group of 20 banks in Denmark that are providing SFDR overlays for all their retail customers.
Progress had been grindingly slow until a breakthrough in the run-up to COP28, which paved the way for a deal on the opening day, effectively giving the green light for grant-based funding, facilitated initially by the World Bank, raising transparency concerns for some.
The Asian Development Bank (ADB), which estimates a US$3.1 Global sustainable bond issuance surged in 2021, with data providers estimating total volumes just above or below US$1 trillion; green bonds accounted for roughly half. Developing economies globally need to invest as much as US$4.5 trillion) to reach the goals.
Further, depending on the jurisdiction, emerging guide rails being established by policymakers and investor-focused organisations have slightly differing perspectives on what it means to be sociallysustainable. . All investors want to understand is where investee companies are on their journey to becoming sociallysustainable.
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