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.

If there is one bank in North America that is shoring up the financial system, moving finance into a modern era and willing to do what it takes to create a healthy, safe and prosperous society for employees, clients and communities, it is Citi, North America’s best bank for corporate responsibility.

Access Bank in Nigeria, under managing director Herbert Wigwe, leads the way in social and environmental banking efforts, helping improve the country’s health and education, reducing emissions, spearheading sustainability and supporting financial inclusion. Its vast range of work wins Access Bank the award for Africa’s best bank for corporate responsibility.

It is perhaps obvious that Erste Bank is leading the charge to help the unbanked and underbanked across central and eastern Europe – it was part of its mission when it was established in 1819 after all. And some 200 years later, financial inclusion is still just as pressing in the countries it operates.

Mexico may now be the world’s 15th largest economy, but approximately 38 million Mexican adults are still unbanked – roughly the size of the population of Canada. Education and job creation have been a focus of the Mexican government; one bank in the country stands out for its efforts to help that progress by providing financing solutions, Citibanamex, which wins the award for Latin America’s best bank for sustainable finance.

In sustainable finance, it is often the case that what is not financed shows a bank’s commitment to sustainability just as much as what is financed. BNP Paribas is committed to both sides of this coin and it wins the award this year for western Europe’s best bank for sustainable finance.

Lloyds Banking Group’s ‘Helping Britain prosper’ plan, launched four years ago, has put corporate responsibility at the top of the UK bank’s priorities. It was a bold initiative, addressing Britain’s housing needs, helping people plan for the future, helping businesses to start up and grow, championing diversity, supporting clean energy and tackling social disadvantage. It earns Lloyds the award for western Europe’s best bank for corporate responsibility.