BNP Paribas was victorious in five Environmental Finance Bond Awards categories in 2023 – crowning a year in which continued to work towards reaching its target to issue €200 billion ($218 billion) in sustainable bonds by 2025.

Commenting on the Environmental Finance awards, Constance Chalchat, head of CIB company engagement and global markets chief sustainability officer, BNP Paribas, said: "Green is more important than ever for debt markets, and we expect sustained benefit for participants, a solid flow of issuances, increasingly robust standards, and an evolution in regulation to ensure market credibility."

An example of the work related to the Lead manager of the year, green bonds – financial institution award, was the bank's National Australia Bank (NAB) transaction. NAB launched a €1 billion ($1.08 billion), six-year green senior preferred bond.

The proceeds will be allocated towards renewable energy projects, transport, low-carbon buildings, energy efficiency and nature-based assets such as sustainable forestry and agriculture.

Last year, BNP Paribas also restructured its financial institutions group (FIG) Debt Capital Markets business to integrate ESG structuring.

Winning the award for Lead manager of the year, green bonds – supranational, sub-sovereign and agency (SSA), a noteworthy issue includes BNP Paribas acting as joint structurer of the Green Sovereign Bond (OLO) Framework for the Kingdom of Belgium and was joint bookrunner for its €4.5 billion 16.5-year green bond that was issued following Belgium’s newly established framework.

Frederic Zorzi, global head of primary markets, BNP Paribas, said: "The growth in sustainable bonds is here to stay, and will be led by European issuers. Green bonds will remain a dominant theme in materially accelerating the transition towards net zero."

Also winning the award of Lead manager of the year, social bonds – corporate, an issue that stands out includes BNP Paribas role as sole lead placement agent for Swedish real estate firm Samhällsbyggnadsbolaget (SBB) for the issue of its inaugural $100 million social bond in the US private placement market in July 2022.

Winning Loan structurer/arranger/coordinator of the year, in March 2022, BNP Paribas acted as sole sustainability-coordinator for the inaugural four-year €1.5 billion sustainability-linked revolving credit facility (RCF) for Lundbeck, the Danish global pharmaceutical company specialising in developing innovative treatments for brain diseases.

Additionally, BNP Paribas was ranked number one for ESG-linked loan volume in Europe, the Middle East and Africa, and number one for global green/sustainability-linked origination in 2022, according to Dealogic. The bank was ranked number four for EMEA green loan volume origination.

The bank also showed leadership in the sustainability-linked bond (SLB) market, including embedding science-based targets, emissions reductions, and new KPIs across circularity and biodiversity.

In March 2022, BNP Paribas acted as co-sustainability structurer and active bookrunner on the Republic of Chile's inaugural $2 billion, 30-year transaction. This is the first SLB issued by a sovereign nation and helped the bank secure the award for Lead manager of the year, sustainability-linked bonds.

Agnes Gourc, head of sustainable capital markets, BNP Paribas added: "The value of sustainable finance to tackle critical ESG challenges will be anchored in the integration of science-based targets, investor engagement on transition topics, and regional diversity in innovative structures which address social and environmental issues."