Euromoney and its sister publication GlobalCapital conducted a worldwide survey on the fast-growing area of sustainable financing and investing. Both issuers and investors were invited to take part.
The survey was also available in the languages below:
Chinese Traditional | German |
Chinese Simplified | Spanish |
French | Portuguese |
French Canadian |
As a valued participant in the survey, you will receive a complimentary copy of the comprehensive results report when it is published in September. You will also receive one month's free subscriber level access to both euromoney.com and globalcapital.com
Please email any queries on survey process or policy to insight@euromoney.com
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As banks focus more on climate adaptation across their businesses, are they conceding that mitigation efforts are futile?
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Funded by green bonds, decarbonized assets are driving emissions upwards in other sectors that supply the necessary raw materials and shipment services. A capital markets transition label ought to factor this in.
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Banks need to start quantifying the legal risks of both climate action and inaction.
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The London Stock Exchange Group’s head of sustainable finance strategic initiatives wants climate data to redefine the act of indexing.
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The World Bank is issuing ‘outcomes’ bond structures for niche sustainability themes and with new financing mechanisms. Like blue bonds, they are probably going to need some rule-setting.
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A team of once-public sector bankers and officials is launching a new private equity fund that aims to identify ‘climate winners’ from the transition to a decarbonized economy. It has identified key industries but its central thesis is regulation.
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The global clubs charged with defining what pace of transition is both scientifically and politically acceptable are only as good-willed as their members.
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Failure to mobilize the finance needed to meet the Paris Agreement will be devastating. As those flows to overleveraged countries and companies now stall, radical steps are needed.
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Regulators are starting to take a more messaging-based approach to sustainable finance, but stopping greenwashing won’t automatically lead to a transition to net zero.
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The 28th Conference of the Parties starts in Dubai tomorrow. Dubbed the finance COP, conflicting priorities could turn it into a fossil fuel investor roadshow.
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Big banks are scrutinized on environmental, social and governance matters today as never before and they must often walk a tightrope between competing interests. Citi is no exception.
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Data hoarding, ESG illiteracy and credit risk are roadblocks for regional banks looking to establish sustainable supply-chain financing programmes in the Gulf, just as COP28 approaches.
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MUFG’s vast balance sheet has the potential to make a considerable difference to Japan’s net-zero ambitions. But the bank won’t be pulling back from polluters, arguing that money needs to flow to where emissions are, not away from them.
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Farmland acquisition for transition agriculture has proved attractive to the climate-focused investment management franchises of large asset managers. Will real-asset investors follow suit?
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With Article 6 mechanisms formalized, project-based compliance carbon markets could take over the emissions offsetting industry, leaving participants in the voluntary carbon market stranded.
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Jordan Kuwait Bank has issued the country’s first green bond, a key milestone for sustainability driven capital investments in the country. But getting momentum going in the sector will be an uphill battle.
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Standard Chartered’s new chief sustainability officer is not shying away from the reality of what the energy transition looks like in emerging markets.
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Risk-sharing mechanisms could help drive confidence in the voluntary carbon market, but insurance products are scarce.
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What will UBS’s post-merger sustainable finance strategy look like?
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Solar thermal technology could offer cheap carbon-free heat for manufacturers. But tech developers are stuck in a financing gap between venture capital and project finance that will be harder to fill after recent bank failures.
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The EU green bond standard is understandably broad. But because of this, the limits between sustainable and transition finance remain unclear.
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The recent update to the green taxonomy and implementation of the SFDR RTS have received a mixed reception in parts of the EU.
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Asset managers are spooked by mandatory disclosure regulations coming into force in January. This is good news for the anti-greenwashing campaign, not so much for biodiversity lovers.
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COP27 placed green hydrogen production at the top of the global net-zero agenda. Banks want to fund this technology, but energy supply, cost and regulatory uncertainty are jeopardizing its future as the decarbonization solution for hard-to-abate sectors.
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Strategies and financing need to be radically reassessed to achieve sustainability in a rapidly changing world.
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Qatari banks are eager to demonstrate their commitment to sustainable banking amid growing public scrutiny of the environmental cost of hosting the World Cup.
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The climate circus has packed up and left, with everyone disappointed and no one surprised. Some thoughts from a COP first-timer.
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Saving the planet requires shutting down coal plants while also ensuring the livelihood of the people who depend on them. The ADB has a plan.
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Reports published at COP27 suggest slow but steady progress by banks on interim sector targets for net zero. But political reality, particularly in the US, requires a delicate approach.
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Bank’s ESG head urges competitors and regulators to respond more quickly to emissions accounting challenge.
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New opportunities in oil and gas as supply is reoriented away from Russia highlight the question of how quickly cuts to financed emissions will match banks’ enthusiasm for growth in clean energy.
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Climate-smart innovations and regenerative agriculture are attracting tech-savvy equity investors to the farming sector. Access to affordable financing will determine how fast those companies can grow to scale and provide an exit.
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As the private sector demands more guidelines, COP27 should promote the development of a global framework on innovative finance.
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European banks have raced far ahead of their US peers on sustainability. But the continent is now facing an energy emergency, creating pressure from some corners to reverse investment declines in oil and gas. Can Europe’s banks remain frontrunners in sustainable finance in today’s fragile geopolitical environment?
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Boutique investment bank DAI Magister suggests donor funds could catalyse private equity and debt investment in climate tech, the big theme of COP27.
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Carbon credit traders want to secure the integrity of the voluntary carbon market while encouraging speculative trading that could fix its liquidity problem.
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Demand for carbon offsetting credits on the VCM has intensified as corporates look for solutions to reach net zero. But as more and more institutions look to tap this market, can the existing infrastructure cope?
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Regulators want to prevent greenwashing; corporates need to abide by the rules. What happens when science doesn’t help?
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New deal adds two-year payment deferral to existing natural-disaster clause to mitigate impact of a future pandemic.
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Fossil fuel assets were set to become obsolete in the transition to net zero. But the war in Ukraine is forcing European governments to secure alternative energy sources and driving demand for coal, oil and gas back in the wrong direction. With the global energy transition seemingly pitched against national energy security agendas, banks are trying to navigate a difficult path through the turmoil.
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The Netherlands wants biodiversity to be at the forefront of agricultural reform. But the government’s plan to buy out livestock farmers – which was behind the resignation of agriculture minister Henk Staghouwer last week – is a short-sighted solution.
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Anti-ESG boycotts are unlikely to cross the Atlantic.
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The Singaporean bank has launched sector-specific decarbonization commitments it says are industry-leading. For them to be achieved, the bank’s corporate client base is going to need to make changes, too.
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The government is prepared to take drastic measures to reduce the nitrogen produced by livestock. But as farmers resist being pushed out of a profitable sector, the dispute demonstrates the cost of turning climate agendas into a race to cut emissions as quickly as possible.
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As scrutiny of the ESG sector intensifies, how can green funds provide the kind of data that the regulators are starting to demand?
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A US climate bill filled with green credits will create business for banks and provide relief from the backlash against ESG products.
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A just transition should protect smaller firms from paying the price for the carbon emissions of larger ones.
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Wealth managers are keen to engage with clients on biodiversity, but concerns over liquidity and access pose challenges to retail and private clients.
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Companies that publicly commit to net zero by 2030 need to be held accountable for those commitments. That won’t happen until their carbon footprint becomes publicly available data.
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Banks want to capitalize on the surge in green capex borrowing as corporates rush to decarbonize. Cost inflation has increased the risks involved but not the long-term benefit of carbon reduction.
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Latest iteration of the nature-related reporting framework tackles tension between demand for clear and simple methodology applicable to business models and the complexity of the science.
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The banking industry has become frustrated by slow regulatory progress as it waits for necessary standardization of climate risk assessments and disclosure policies to meet net-zero targets.
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Lombard Odier joins Barclays and Nomura in hoping to grow partnerships and shareholdings in a market that is heavily banked but underpinned by a vast institutional bid and a belated surge towards sustainability.
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HSBC Asset Management’s head of responsible investing has had it up to here with consultants and regulators lecturing him on climate change risk.
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Asset managers and index providers are the focus of a backlash against ESG. Banks will face their own reputational roasting as demand for fossil-fuel financing rebounds.
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Credit intelligence specialist OakNorth is working with a consortium of US banks to assess physical and transition climate risk in loan portfolios. The motivation for the banks is clear: self-preservation in the face of growing climate-related disruption.
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China’s approach to ESG is a jumble of grandiose and contradictory state planning alongside often marvellously successful bottom-up plans by banks and fintechs to instil in consumers a more sustainable lifestyle.
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Where do the borders of ESG lie – now and in the future? Investors from the US to China are revisiting these questions and finding thorny and often unpalatable answers, even as they dump Russian assets for ethical reasons. The results are set to shape the financial world’s relationship with sustainability for years to come.
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Early in the Covid crisis, CACIB avoided the big equity derivatives losses its local rivals suffered. Chief executive Jacques Ripoll tells Euromoney how the bank plans to take advantage of the rise of sustainable finance, which plays to its long-standing expertise in infrastructure and energy.
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A ‘remarkable’ global dollar bond from Airport Authority Hong Kong raises the question of whether any member of the aviation sector should include a green tranche within its funding structure.
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The scrutiny of sustainable finance is expected to intensify over the year as stakeholders look for market participants to deliver on environmental promises.
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Emerging Europe has been slow to join the fight against climate change. Now the region’s biggest banking group is making its voice heard.
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Rabobank CEO Wiebe Draijer says that private finance must have a role in financing the transition to a more sustainable, equitable and healthy way of feeding the planet.
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Governments have been slow to impose compulsory cap and trade schemes, but if voluntary markets nudge them along, a new asset class could flourish.
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A new programme announced at COP26 plans to speed up progress away from coal-fired power in Indonesia and the Philippines by buying out plants, shutting them down, and helping to provide a cleaner alternative.
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Intense competition for assets means that risk is being mispriced.
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The hard truth is that in much of the developing world, climate change still ranks well below more immediate concerns such as unemployment, disease, poverty and political unrest for households and businesses.
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Policymakers in Moscow are finally promising to tackle climate change. Will the Russian private sector follow suit?
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Investors fear that many Asian governments aren’t doing enough to transition to net zero. They are therefore engaging with the region’s largest utilities hoping for better results. CLP may be an example for others to follow.
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There has always been great overlap between Shariah-compliant finance and ESG principles. Malaysia is trying to harness the potential that arises from this confluence.
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A new poll by the data-room technology provider finds that worries over the potential for post-deal value destruction because of climate change have added to a risk environment already heightened by the coronavirus pandemic.
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President Xi Jinping has set out ambitious plans to decarbonize China’s economy. But most companies and banks, hampered by a lack of top-down regulation, have little idea what ESG is, let alone how to measure and report it. It is a mess – and one that China needs to clear up fast.
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Before long, investors will pay as close attention to an issuer’s green framework as to its credit rating.
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China unveiled a plan for its first national parks on Friday, the final day of the COP15 conference in Kunming. It reveals the weight of Party concerns about pollution and biodiversity fragmentation, and their impact on political stability.
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The banking sector will never pick its way through the climate change jungle without harmonized regulations. To meet global risks, a global sector needs global standards. It is time for Basel V.
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The BlackRock chief executive sees a big gap opening up between the commitments of large public companies and banks and the rest of society as inflation hits.
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Sustainable agriculture holds the key to reducing emissions and transforming the global food system, says Rabo Carbon Bank’s chief executive.
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Bank of America’s Abyd Karmali is on the Taskforce on Nature-related Financial Disclosures. He spoke to Euromoney ahead of the nature-based COP15 and climate-based COP26 conferences about what is at stake.
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The issuance of green bonds is that rare thing: a strategy on which the EU and UK agree. That is especially welcome because achieving net zero will require the participation of enormous volumes of private capital.
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Amazonia Impact Ventures says that financing sustainable agricultural production can reduce deforestation rates.
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Climate change cannot be tackled in isolation. Biodiversity is an equally important challenge, and the two must be considered in tandem. A new report backed by Singapore’s Temasek spells out the challenge and the opportunity.
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Want to know what banks will be doing at COP26? Give them a minute and they’ll get back to you…
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Credit Suisse’s chief sustainability officer is no ESG ideologue. She is at heart a hard-nosed investment banker who sees a once-in-a-lifetime opportunity to guide clients to a more sustainable future.
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South African banks’ sustainable finance challenges reflect the nation’s difficult but vital transition away from coal.
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Macquarie Group chief executive Shemara Wikramanayake has laid out her bank’s ambitions in green energy, as its Green Investment Group reports a record portfolio.
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A year after launch, the Taskforce on Scaling Voluntary Carbon Markets is close to setting standards for a murky market. Board member Chris Leeds discusses the journey so far, the challenges ahead and the opportunities that standardization could create for banks.
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James Gifford’s life changed when he hopped aboard a flight from Sydney in 2003. The team he joined in Geneva framed the UN’s Principles for Responsible Investment, created the concept of ‘ESG’ and changed the world.
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The world has been pressuring Brazil about the deforestation of the Amazon rainforest within its borders for decades. New ESG-style initiatives are being adopted by Brazilian banks and businesses, but it could be the climate impact closer to home that’s creating the impetus for real change.
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Investors must understand the limits of regulatory efforts to measure climate stress at banks.
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Gustavo Montezano has been president of BNDES since July 2019. He is on a mission to get Brazil’s state development bank to adapt to the new financial reality of ESG. How the resultant tensions play out will be crucial to the development of Brazil and the world.
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Sustainable finance and renewable energy are becoming more important for the French firm, as it reduces its emphasis on equity derivatives.
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Can multilateral development banks fight climate change while still promoting economic development in emerging markets? The European Bank for Reconstruction and Development is the first to set out concrete plans on how to do this.
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China faces tough choices in the months ahead. Make the right decisions and it can become the global leader in ESG, a country determined to shed its industrial past and embrace a cleaner, greener future.
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Australia is not the first country that comes to mind with regards to climate action. But away from the political rhetoric, the exceptionally powerful superannuation funds and corporates are pushing change. The key is an acceptance that in Australia it’s all about transition.
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Brazil’s central bank attempts to redress the country’s woeful environmental reputation with climate-related stress tests.
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One of the stars of Estonia’s post-Soviet generation, André Küüsvek, talks to Euromoney about escaping lockdown in Kazakhstan, expanding the NIB’s environmental remit and the risks posed by rising inequality.
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A new analysis of European banks by ShareAction finds that while some firms distinguish themselves in some climate and biodiversity practices, the overall picture is of a sector that still has much work to do.
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The IFC’s Latin America head sees local capital markets growth as key to financing sustainability.
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Many are still a long way from understanding the risk climate change poses to their businesses.
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China’s lenders are keen to go green, as Ping An Bank chairman Xie Yonglin tells Euromoney. Regulators want that, too – but embracing ESG in a country still in thrall to dirty industry is easier said than done.
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The bond market’s hottest structure has come under fire from a leading ESG investor, with borrowers accused of gaming the system to take advantage of demand for sustainable products.
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Two years ago, Barclays began to build a dedicated sustainable investment banking coverage group. Aimed at emerging growth companies, as well as the bank’s mature large cap clients, it’s a big element of a wider collaboration effort at Barclays.
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The two banks plus Singapore’s stock exchange and sovereign wealth vehicle believe they have the collective strength and skills to build Climate Impact X, based initially on southeast Asian forestry and mangrove projects.
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Years of tough but successful IMF-led reforms have put Egypt in a great place to rebound strongly from Covid. Its future will be shaped by big infrastructure projects and by a plan to transform the nation into a powerhouse of green finance.
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Banks are refining their sustainable cash-management offerings, seeking to align their corporate sustainability strategies to financing and treasury actions.
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Biodiversity loss now competes with climate change as the principal challenge for sustainable finance. What does it actually mean for banks and asset managers and what can the private sector do to restore the balance of nature?
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ESG investors want to see evidence that their money is making a difference. It could be putting a dampener on banks’ appetite for issuing social bonds.
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It has the backing of Prince Charles, as well as several big names in banking – but will the Financial Services Taskforce contribute anything new to the fight against climate change?