Stakeholders have largely welcomed the release of long-awaited green EU taxonomy proposals, which attempt to lay down green criteria to support sustainable finance, but opinions were divided over the extent to which weaknesses in the first draft had been addressed.
Overall ESG strategies are as important to investors as the specifics of green bonds, as they seek to avoid green-washing and encourage brown issuers to make the transition to sustainability.
PKO Bank Hipoteczny (PKO BH) launched the first green covered bond from Poland and central and eastern Europe yesterday (Wednesday), a PLN250m (EUR58m) five year FRN with proceeds earmarked for financing energy efficient residential mortgages.
Nykredit Realkredit issued the second and largest green Danish covered bond yet last week, a SEK4.1bn (EUR383m, DKK2.87bn) three year FRN that achieved a 3bp saving versus the issuer’s conventional issuance which will be passed on to its borrowers.
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