News

US climate finance principles published by regulators - but two Fed governors refuse to sign

The main banking and financial services regulators in the US have agreed principles on how to manage climate risk - but they resisted calls to promote the transition to a lower carbon economy, as the controversial document caused a rift within the Federal Reserve.

Enel SLB target miss 'to cost it $27m'

Investors are not pricing in the expected Enel sustainability-linked bond (SLB) target miss at the end of 2023 which could trigger a coupon step-up for more than $10 billion worth of debt, according to the Anthropocene Fixed Income Institute (AFII).

Call for more transparency on Scope 4 claims from fund managers

'Okay to miss out' on innovative sustainable opportunities, says FSSA

It's better to "miss out on" innovative sustainable investment opportunities than invest without a track record, especially in emerging markets, FSSA has said.

Calvert Impact raises $30m from initial C-PACE 'Cut Carbon' bond issuance

Calvert Impact Capital has issued its first 'Cut Carbon Note', with future deals expected to grow the amount raised by the performance-incentivised instrument to $400 million.

Manning quits UK's FCA, with SDR still in the pipeline

One of the architects of the UK's Sustainability Disclosure Requirements (SDR) has left his role at the Financial Conduct Authority (FCA) just weeks before the regulations are due to be published.

Middle East sustainable bond issuance surges ahead of COP28

Total sustainable bond issuance from Middle East issuers is already at a record annual total in 2023 as corporates and sovereign issuers set new highs ahead of what could be a busy final three months.

MAS encourages nature's inclusion in transition plans

The Monetary Authority of Singapore (MAS) has called for nature loss to be addressed within transition plans, as part of transition planning guidance for financial institutions.

US still 'fertile ground' despite ESG pushback, says NY Green Bank

Media coverage of the growing anti-ESG backlash in the US fails to recognise the growing sustainable investment opportunities in the states, the New York Green Bank said.

Transition 'should be better captured in financed emissions metrics'

Current approaches to calculate so-called 'financed emissions' risk missing the potential future emissions reductions and penalising financial institutions that provide such capital, argues Satoshi Ikeda, chief sustainable finance officer at the Financial Services Agency (FSA).