Capital markets are crucial in helping firms to navigate the turbulent geopolitical climate, acting as both a catalyst for growth and a long-term stabiliser to effectively handle challenges such as currency risk, interest-rate fluctuations and the increasing cost of capital. In the first of our Euromoney Market Voices series, the CEO of Lloyds Bank Corporate Markets explains how markets are adapting to the challenges of the new normal – and how banks and corporates can take advantage.

Six years after the Paris Agreement and the world is still looking for enablers to accelerate the net-zero journey. Many see trade finance instruments as the next significant step but that requires accurate and structured data, robust reporting capabilities, and streamlined processes. Key leading players in the area tell Euromoney what is changing in the world of sustainable trade finance.

In 2010, Soumya Rajan was a senior private banker at Standard Chartered in Mumbai. Then she quit to set up Waterfield Advisors, a multi-family office and wealth advisory firm which now helps Indian families manage US$4.3 billion in assets. She tells Euromoney why wealth management in India is so exciting, which factors are driving new money creation – and why so many private banks are so bad at serving women.

Javier Rodríguez Soler, BBVA’s global head of sustainability and corporate and investment banking, says an acquisition of Banco Sabadell would boost his division’s international standing. But BBVA is already eyeing a leading role in banking decarbonisation around the world, especially in the US. Partnerships with private equity companies, and investments in cleantech funds, are among the ways it is pursuing that goal.

Corporate supply chains are facing logistic, shipping and operational challenges while also under pressure from geopolitical tensions and natural disasters, as highlighted by trade leaders at the world’s leading banks in Euromoney’s Trade Finance Survey 2024.

New transition bond includes step-down, as new ‘green infrastructure’ bond issued.

Wholesale banking head Andrew Bester explains the renowned retail bank’s ambition to win new revenues building on its expertise in sustainable finance.

With corporates taking a more holistic view of sustainability, banks are under pressure to address concerns over reporting and verification requirements for sustainable working capital, trade finance and liquidity management products.

Corporate treasurers are playing it safe when balancing the merits of exploiting improved access to capital against the risk of unexpected economic shocks and business interruption.

The decision by the US SEC to drop mandatory Scope 3 reporting weakens global emissions reporting standards. However, many corporate issuers are already using Scope 3 performance targets on sustainability-linked transactions for non-regulatory reasons. Are the debt and equities markets leading companies onto ESG ground upon which regulators fear to tread?

Corporates seeking to leverage sustainable investment opportunities continue to be restricted by the lack of reliable data on which to base their assessments.

The UBS chief investment office’s sustainable and impact investing strategist wants to avoid measurement for the sake of measurement, but responding to client demand for more data while ensuring its readability remains a challenge.

It was a year of milestones for Morgan Stanley in sustainability, a journey that began in 2013 with the establishment of the Sustainable Investing Institute under Audrey Choi, the bank’s chief sustainability officer.

For our best bank for sustainable finance award, HSBC edges BNP Paribas and BAML for the range of its deals and its involvement in industry bodies that are furthering sustainable finance.

When Bank of America Merrill Lynch’s Asia president, Matthew Koder, gets going on corporate responsibility, your best chance of getting out of the room within an hour and a half is an earthquake. Koder chose to pitch personally in only one category, this one, and in truth everything BAML put in for – investment banking, transaction services and country awards from the Philippines to Japan – is presented through the filter of corporate responsibility.

The French bank has committed itself to sustainable finance across its entire business.

Garanti Bank has not only led the financial industry in Turkey with its environmental policies but also the whole corporate sector. For example, it was the first Turkish company to sign the UN Global Compact’s Business Leadership Criteria on Carbon Pricing. And last year it took this one step further, becoming the only financial institution in the world to be included in the 2017 CDP (formerly the Carbon Disclosure Project) Water A List – one of just 78 companies that meet the highest standards for water security. Garanti is CEE’s best bank for sustainable finance.

In green bond issuance, Bank of America leads the way, adding a fourth green bond to its list in May this year. It was its largest yet, at $2.25 billion, and its proceeds will support renewable energy generation.