Green, Social and Sustainability Bonds

ECB seeks greater ESG covered bond disclosure as different models debated

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

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

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.

COP26 finance pledges abound, but impact questioned

8 November 2021

Net zero ambitions abounded during the Finance Day of the COP 26 Presidency Programme in Glasgow on Wednesday, with a Mark Carney-led alliance touting a $130tn headline figure, but critics questioned whether such pledges are sufficient.

Social moves pique NN IP interest, SLBs yet to convince

10 August 2021

NN Investment Partners’ green bond offering has this year been boosted by an increase in sovereign activity, while social developments may have opened a gap in the market, according to Douglas Farquhar, client portfolio manager for green bonds, NN IP, even if its reservations about sustainability-linked bonds (SLBs) persist.

Moody’s bumps sustainable bond forecast towards $1tn after record H1

2 August 2021

Moody’s has raised its full-year forecast for sustainable bond issuance on the back of record volumes globally in the first half of the year, and now expects 2021 supply of labelled use-of-proceeds bonds and sustainability-linked bonds to approach $1tn.

Benin sends message, saves costs with first African sovereign SDG bond

27 July 2021

In a “compelling message” to its peers, Benin this month became the first African country to issue an SDG (Sustainable Development Goals) bond, a €500m transaction that was some three years in the making and which enabled the country to achieve a large greenium.

Featured

Green/ESG CP: Pioneering steps

The expansion of green, social and sustainable or sustainability-linked formats into short term instruments has the potential to boost overall volumes and impact, and pioneers have already begun testing appetite in the commercial paper market. However, the sector’s intrinsic characteristics raise questions over how to best exploit its potential. In this special Sustainabonds report, sponsored by ABN AMRO, Neil Day explores experience to date and asks what could catalyse growth.

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

COP26 finance pledges abound, but impact questioned

Benin sends message, saves costs with first African sovereign SDG bond

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