News

Bond round-up: Mamoura, France, Uruguay ... and more

Japan confirms CCS, nuclear and aviation in sovereign transition bond framework

Japan has confirmed potentially controversial technologies including carbon capture and storage (CCS), "next-generation aircraft" and nuclear energy among the eligible use of proceeds from its landmark transition bond issuance.

Abu Dhabi Islamic Bank readies debut green sukuk ahead of COP28

With COP28 looming, Abu Dhabi Islamic Bank (ADIB) has mandated five banks to market its debut US dollar-denominated green sukuk deal.

Fidelity to vote against companies on nature

Fidelity International has announced that from 2024, it will begin to vote against companies on nature-related issues.

$300bn funding gap for sustainable land use, says McKinsey

To meet the growing global demand for food, 'urgent action' and investment of at least $300 billion is needed to transform land and farming practices, a report by McKinsey & Co has found.

Fossil fuels to be excluded under 'ambitious' French sustainable fund label overhaul

Companies generating energy using coal or developing new oil or gas projects are to be excluded from France's sustainability fund label in updates designed to make the Label ISR "more ambitious".

NGFS adds 'too little, too late' climate scenario, drops 1.5°C model

The Central Banks and Supervisors Network for Greening the Financial System (NGFS) has updated its climate scenarios, adding one in which warming hits 2.3°C due to countries with net zero targets not taking sufficient action and dropping a 1.5°C-aligned model.

Nature 'to become a mainstream asset class', says Lombard Odier

Agriculture - and nature more broadly - will become a mainstream asset class for investors, Lombard Odier's head of research has predicted, describing nature as "the most underpriced asset".

Uruguay raises $700m from sustainability-linked bond tap

Uruguay has raised $700 million from an oversubscribed tap of its sustainability-linked bond (SLB), a year after its ground-breaking debut transaction.

MFA warns SEC against repeating SFDR 'pitfalls'

The Managed Funds Association (MFA) has urged the US Securities and Exchange Commission (SEC) to update its proposed system for the categorisation of sustainability funds to avoid similar "pitfalls" to the EU's Sustainable Finance Disclosure Regulation (SFDR).