Latest stories on Socially Responsible Investments

  • Mobilising financing is key to tackling climate change

    The Final Word, by Emmanuel Macron, President of France

    • 14 Oct 2017
  • Green finance and the role of government

    By Ma Jun, Chairman of the Green Finance Committee of China Society for Finance and Banking, Co-Chair of G20 Green Finance Study Group and Special Advisor to United Nations Environment on Sustainable Finance

    • 13 Oct 2017
  • The other America says ‘yes’ to Paris Agreement

    Three devastating hurricanes this summer have not changed President Trump’s mind about leaving the Paris Agreement. But the response from US business and municipalities has been remarkable. Many reject Trump’s decision and are determined to carry on regardless, resisting climate change

    • 12 Oct 2017
  • Trump dominates IMF meetings for all the wrong reasons

    As the world’s finance ministers, central bank governors and investment bankers dispersed from Washington DC at the weekend after the IMF-World Bank annual meetings, a sense of oppression hung over them.

    • 17 Oct 2017
  • Berlin Hyp follows Japanese into blossoming euro greens

    Berlin Hyp has become the latest FIG issuer to enter the green senior unsecured market in euros, after Sumitomo Mitsui Financial Group (SMFG) and Mizuho Financial Group opened up issuance from Japan earlier this month.

    • 17 Oct 2017
  • Renew prices second 2017 PACE ABS

    Property Assessed Clean Energy (PACE) finance company Renew Financial priced Renew 2017-2 on Tuesday, its second ABS transaction of the year.

    • 17 Oct 2017
  • IFC raises $1bn of green cash at super-tight spread

    The International Finance Corporation achieved the tightest level of the year with a $1bn five year green bond, after managing to pull in its spread 3bp from initial price thoughts to final spread.

    • 17 Oct 2017
  • EBRD and IFC fund Serbia’s biggest wind farm

    The European Bank for Reconstruction and International Finance Corp have lent €215m to Vetroelektrane Balkana (WEBG) to develop Čibuk 1, the largest wind farm in Serbia and the western Balkans.

    • 17 Oct 2017
  • Hurricane-ravaged Caribbean islands demand polluters pay for rebuild

    Gaston Browne thinks that developed countries are contributing to the frequency and savagery of hurricanes with their carbon emissions and that they therefore should write off debts and help his country rebuild

    • 13 Oct 2017
  • Dombrovskis wants EU to ‘lead the world’ in green finance

    The man in charge of financial services in the EU talks up Capital Markets Union post-Brexit, green finance, fintech and just how difficult it is to push through reforms in the banking sector

    • 14 Oct 2017
  • Fiji ups the temperature at COP 23 with call to action

    Fiji has fewer than 1m people and its CO2 output per head is only 8% of US levels. A strange country, perhaps, to preside over the world’s most important process for cutting greenhouse gas emissions. But from another perspective, Fiji is supremely well qualified to tackle climate change — its task as president of COP 23, the global climate negotiations scheduled for November.

    • 15 Oct 2017
  • A new era of development banking

    The EIB is stepping up support for the private sector through higher risk co-investment.

    • 15 Oct 2017
  • Varta’s €203m IPO closes four days early, multiple times covered

    Varta AG, the German maker of micro-batteries for hearing aids and wireless headphones, will close the books for its €203m IPO early, after receiving substantial demand from investors. It looks set to be priced at the top of the range.

    • 16 Oct 2017
  • SRI bonds advance despite market divisions on green

    Despite nearly $100bn of issuance this year, the product continues to divide borrowers including sovereign issuers who have so far been reluctant

    • 14 Oct 2017
  • ‘Climate in everything we do’

    In terms of sheer volume of lending, the EIB have done more to address the problem of climate change than any other institution.

    • 13 Oct 2017
  • RTE and WM Housing get good long Friday deals

    Corporate bond deals are often executed on Fridays to give issuers some space in crowded weeks. However, Friday was one the busiest days of this week, with both euro and sterling investors offered long dated deals to consider.

    • 13 Oct 2017
  • Utilities buyers kept busy with run of new issues

    In a busy week for utility company bonds Iren, the Italian electricity and gas distributor, on Tuesday announced a new benchmark green bond alongside a tender offer for some of its outstanding bonds.

    • 12 Oct 2017
  • Citic Envirotech rakes in S$240m with ease

    Citic Envirotech turned to the Singapore dollar market for a perpetual non-call three year bond this week, revising pricing 40bp from initial guidance. The company was helped by its deep roots in Singapore and its ownership by China’s Citic Group.

    • 12 Oct 2017
  • Goldman cleans up Dong after it goes green

    The private equity arm of Goldman Sachs has sold the last of its shares in Dong Energy, the Danish power company, for Dkr4.3bn (€576m).

    • 12 Oct 2017
  • Crucial deal on EU Emissions Trading System still elusive

    European officials failed to reach agreement on Thursday on a crucial reform to improve the effectiveness of the European Union’s Emissions Trading Scheme, the world’s largest carbon cap and trade scheme.

    • 13 Oct 2017
  • AfDB readies social debut as DBJ scores big with SRI bond

    The African Development Bank (AfDB) said that it intends to enter the social bond market and will be roadshowing its social bond framework beginning October 19, it said this week.

    • 12 Oct 2017
  • Innogy gets upgraded, then sells super-tight green bond

    Innogy, the German utility split off from RWE in April 2016, on Wednesday announced it would be holding investor calls about a new benchmark 10 year debut green bond issue. Later in the day, Standard & Poor’s upgraded the issuer to BBB.

    • 12 Oct 2017
  • Carbon pricing growing fast but firms need to use prices better

    More and more companies are recognising the principle that the atmosphere’s ability to absorb greenhouse gases from combustion cannot remain a free resource forever.

    • 12 Oct 2017
  • Election lifts hopes of greener Germany, perhaps even green bond

    Germany’s general election has put the Green party in a strong position to push for bolder policies on sustainability, and possibly to gain control of the energy ministry.

    • 12 Oct 2017
  • Hong Kong to pursue its first green bond sale next year

    Hong Kong will pursue the sale of a green bond next year, the city’s chief executive Carrie Lam announced in her first policy address this week.

    • 12 Oct 2017
  • Mizuho goes green for first ever senior euro trade

    Mizuho Financial Group came to the market with a bond financing green projects on Tuesday, becoming the second Japanese bank to do a green euro deal in two weeks.

    • 10 Oct 2017
  • AfDB hitting the road for social bond

    The African Development Bank (AfDB) announced on Monday that it intends to enter the social bond market and will be roadshowing its social bond framework beginning October 19.

    • 09 Oct 2017
  • Japan’s SRI issuers catching up after investors show the way

    Japan’s borrowers have been slow to board the SRI train. However, this is beginning to change, thanks to committed issuers such as the Tokyo Metropolitan Government, the Development Bank of Japan and the Japan International Cooperation Agency.

    • 29 Sep 2017
  • A green capital cut is a bad plan: measure risk, not political appeal

    For politicians looking for policy tools, bank capital regulations are a blank canvas. But using prudential regulation to direct lending to favoured causes lacks transparency, obscures difficult decisions and piles up risks.

    • 03 Oct 2017
  • Europe's banks call for capital rules to favour green assets

    Should a bank making a loan to finance a windfarm have to hold less capital against it than a loan to finance an oil rig?

    • 28 Sep 2017
  • Berlin Hyp goes long for second senior green

    Berlin Hyp has mandated for its second unsecured green bond, as it works to make loans financing green buildings account for 20% of its lending by 2020.

    • 29 Sep 2017
  • European investors pile into ICBC's €1.8bn green bond

    Industrial and Commercial Bank of China raised $2bn-equivalent from its three tranche offshore green bond debut, making it one of the largest green bond deals from a Chinese bank.

    • 29 Sep 2017
  • Investors eat up $300m green Masala from Ireda

    Nearly three months without Masala bond issuance has left investors hungry. But Indian Renewable Energy Development Agency gave investors something healthy to chew on this week — using the structure to sell a Rp19.5bn ($297m) green bond.

    • 29 Sep 2017
  • SSA secondary pricing update: featuring KfW's super-tight green bond

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    • 29 Sep 2017
  • MuniFin, KfW punch through curves with green bonds

    Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.

    • 28 Sep 2017
  • Green by words rather than action?

    Last Friday saw GlobalCapital launch our new twice-weekly email round-up of SRI and green finance news. Everywhere you turn in the bond markets, every bank or investor you speak to, it doesn’t take long before green bonds are mentioned.

    • 28 Sep 2017
  • Waking up to reality: the race to put numbers on climate risk

    Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.

    • 29 Sep 2017
  • Innovation lends power to the arms of green investors

    Several developments in the past year have the potential to move green finance up a gear, in its ability to actually bring about change in the real world. Jon Hay highlights four of them.

    • 29 Sep 2017
  • Confident SRI bond market looks to state for next leg up

    With France’s green OAT and record issuance this year, the green and social bond market has emerged from obscurity into the bright lights of mainstream capital markets. Treasurers and CFOs are, by now, aware of what the market has to offer. But to channel capital on the scale required to limit global warming to 2C, the market must adapt and innovate to meet investors’ need for clarity, and to incentivise issuers. Lewis McLellan reports.

    • 29 Sep 2017

SRI 2017 report

SRI 2016 report

China Green Finance Roundtable 2017

China Green Finance Roundtable

  • Waking up to reality: the race to put numbers on climate risk

    Sustainability is a term used liberally and vaguely in the financial world. But it has a precise meaning: living so that we do not make it harder for future generations to live. That principle is violated by today’s economy, including its financial markets. But little by little, the heart of markets — the decisions investors make — is facing up to what it has long repressed. Jon Hay reports.

SRI 2015 report

Sustainable and Responsible Capital Markets special report

SRI 2014 report

SRI special report

Global Green Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Agricole CIB 5,749.11 37 6.45%
2 HSBC 5,615.79 38 6.30%
3 Citi 4,754.93 22 5.33%
4 JPMorgan 4,653.17 32 5.22%
5 BNP Paribas 4,491.70 29 5.04%