ESG Bond Markets

There is growing recognition across all sectors that in order to be truly in line with the goals of a low carbon economy, integrating ESG factors into traditional credit analysis is crucial. The bond markets play an integral role towards funding projects with a sustainable purpose and form a key part of the transition towards sustainable finance.

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11 videos • 1 hour 39 minutes

  • Green Bond Markets Background

    In this video, Stephanie talks about the background of sustainable finance, key milestones and the relationship between environmental, social and corporate governance (ESG) risks and financial risks.

    Stephanie Sfakianos11:56

  • Green Bond Principles

    In the second part of Stephanie's video on Green Finance Markets, she discusses the green bond market and evaluates its impact.

    Stephanie Sfakianos08:57

  • What are Green Bonds?

    Green bonds are a variant of conventional bonds, where the key point of distinction is the use of proceeds. Green bonds follow Green Bond Principles outlined by the International Capital Market Association, and the proceeds from the issuance of the bond are specifically earmarked for climate and/or environmental projects. In this video, Tim Skeet provides an introduction to Green Bonds, and highlights their key attributes.

    Tim Skeet13:49

  • ESG Loans

    We saw huge growth of the ESG bond market in 2020, with headlines focused on new COVID-19 sustainable debt issuances, but what was also impressive is the parallel growth of ESG loans, which isn’t covered nearly as much by the mainstream media. In this video Keith gives an overview of ESG loans, discussing the size of the market, the types of loans and then finishes discussing a few recent ESG loan transactions.

    Keith Mullin16:06

  • Green Covered Bonds

    The Covered Bond market has pioneered the idea of green covered bonds. In this video, Richard goes into detail on how this came about.

    Richard Kemmish07:41

  • Social Bonds Introduction

    In the introductory video to this social bonds series, Keith defines a social bond and discusses their different applications. He further outlines the development of the social bond market along with the key challenges the market faces today.

    Keith Mullin10:41

  • Social Bonds History & Market Today

    In this video Keith highlights the social bond market timeline. The first social bond was introduced by the International Finance Facility for Immunisation (IFFM) in November 2006. Since, social issuance has emerged in covered, senior unsecured, senior preferred, and senior non-preferred format.

    Keith Mullin06:51

  • Social Bond Principles

    The Social Bond Principles are a set of standards enforced by the International Capital Market Association (ICMA). In this video, Keith sets out the clear principles relating to reporting, use of proceeds, and external reviews.

    Keith Mullin06:54

  • Measuring Social Bond Impact

    Within the fourth video in this series, Keith discusses the key challenges with measuring the impact of social bonds, such as the long time lags associated with impacts of social projects and suggests investors have a role to play in offsetting this to an extent. This may come in the form of active investor engagement.

    Keith Mullin03:06

  • Incremental Value of Social Bonds

    In the last video to this series of Social Bonds, Keith discusses the concept of social additionality, the idea whereby positive outcomes accrue solely because of the issuance of social bonds, and that the true investment in the social economy is inflated due to refinancing. If only new projects were included in market volumes, the gross size of the market would reduce dramatically.

    Keith Mullin05:23

  • Second-Party ESG Debt Opinions

    The rise of labelled  ESG debt issuance and investing in recent years has, unsurprisingly, been accompanied by a rapid increase in the number of industry providers offering products and services throughout the market’s value chain. The main purpose of this video by Keith is to provide a detailed explanation on "SPOs" - Second-Party Opinions.

    Keith Mullin08:33

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