Green, Social and Sustainability Bonds

Affordable housing, hospital themes for CFF social debut

CFF yesterday issued an inaugural issue of social obligations foncières supporting social housing and healthcare under the BPCE group’s sustainable development bond programme, a €500m long five year deal that bankers said “unblocked” the euro benchmark covered bond market.

Social interest ‘encouraging’ in smooth Berlin Hyp reopener

Berlin Hyp issued the post-summer reopening euro benchmark covered bond for a fifth consecutive year on Wednesday, and Bodo Winkler, head of funding and investor relations at the issuer, told Sustainabonds that interest in social bonds now appears to be almost on a par with green.

‘Delayed’ EBA work set to take in green amid ECB focus

The European Commission could expand the European Banking Authority’s mandates for follow-up work on the EU covered bond directive to include recommendations on green covered bonds, which were a key topic for the European Central Bank at a recent Helsinki European Covered Bond Council plenary.

‘Double scarcity’ helps Caffil launch GSS framework, round off year

11 November 2022

Caffil sold the first bond from a new and enlarged group green, social and sustainability framework on Tuesday, a €750m five year green transaction that benefited from the scarcity of both its maturity and ESG nature, according to SFIL’s Gonzague Veillas.

ECB seeks greater ESG covered bond disclosure as different models debated

1 October 2022

ECB officials called for greater disclosure of all covered bonds’ climate-related risks at a European Covered Bond Council plenary last week, while speakers were sympathetic towards a flexible definition of green covered bonds as the EBA asked the industry whether it feels the asset class requires a dedicated framework.

GBP, EBA updates raise green covered bond questions

5 September 2022

The European Covered Bond Council is working on a definition of green covered bonds aimed at reflecting the distinct characteristics of the instrument to ensure its appropriate treatment in incoming regulations, and following a Green Bond Principles update deemed contradictory to its core feature by some.

DKB social housing Pfandbrief first tackles local hot topic

2 May 2022

Deutsche Kreditbank (DKB) on Thursday issued the first benchmark social mortgage Pfandbrief, a €500m 10 year that attracted €2.36bn of orders and which tackles the politically sensitive topic of housing in its hometown of Berlin.

Bumper GSS covered bond growth seen easing as asset constraints bite

7 January 2022

Growth in sustainable covered bond issuance is expected to moderate this year after a doubling of such issuance in 2021, with constraints on appropriate assets holding back growth, and regulatory developments a mixed blessing for issuers hoping to tap into investor enthusiasm for such bonds.

New guide seeks to unlock finance to bridge gender gap

24 November 2021

ICMA, the IFC and UN Women have launched a guide outlining practical ways to use sustainable debt to advance gender equality, with the bond market yet to realise its potential to meaningfully contribute to SDG 5, according to proponents of the new guide.

Featured

Hesse set to sustain Länder leader status in Green Bond III

The State of Hesse has been a frontrunner among sub-sovereign GSS bond issuers, and its planned third green bond promises to be its biggest and broadest yet. Anna Beil, Tanja Czymek and Alexander Labermeier of the Ministry of Finance of the State of Hesse, and Patrick Seifert at joint lead LBBW, spoke to Sustainabonds about the German state’s sustainability achievements and ambitions, and how green bonds complement its wider activities.

Hesse levels up Länder as €1.5bn 10s evince greenium

‘Delayed’ EBA work set to take in green amid ECB focus

ECB seeks greater ESG covered bond disclosure as different models debated

GBP, EBA updates raise green covered bond questions

New guide seeks to unlock finance to bridge gender gap

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Hesse set to sustain Länder leader status in Green Bond III

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