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IFR ESG Capital Markets Roundtable 2021

IFR’s ESG capital markets webinar in May convened a panel of three EU public finance borrowers active in the ESG-labelled debt market: the European Investment Bank; NRW.Bank, the regional promotional agency of Germany’s North Rhine-Westphalia; and SFIL/Caffil, the French local government and export financing agency. Joining them were second-party opinion provider Cicero Shades of Green and asset manager Amundi.

To purchase printed copies or a PDF of this report, please email leonie.welss@lseg.com and shahid.hamid@lseg.com

IFR ESG Capital Markets Roundtable 2021: Participants

Dominika Rosolowska EIB Dominika Rosolowska is a sustainability funding officer at the European Investment Bank. The team develops Climate Awareness Bonds and Sustainability Awareness Bonds under the framework of the EU Taxonomy Regulation, together with the bank’s project experts. Rosolowska is responsible for issuance of CABs and SABs across all currencies. She has worked at the EIB since 2010 and was previously a funding officer for Americas and Asia-Pacific. Frank Richter NRW.Bank Frank Richter is head of investor relations at NRW.Bank,...

IFR ESG Capital Markets Roundtable 2021: Part 1

KEITH MULLIN, KM CAPITAL MARKETS: A VERY WARM WELCOME TO THIS IFR WEBINAR ON ESG CAPITAL MARKETS. I’D LIKE TO KICK OFF BY ASKING EACH OF OUR ISSUERS TO DO A QUICK REVIEW OF THEIR ESG DEBT ISSUANCE IN 2020 AND 2021 YEAR-TO-DATE. Dominika Rosolowska, EIB: I represent the sustainability funding team at the EIB, which is responsible for structuring and issuing the two use-of-proceeds products we have – Climate Awareness Bonds (CABs) and Sustainability Awareness Bonds (SABs) – across all currencies and formats. For us, last year was a record year in...

IFR ESG Capital Markets Roundtable 2021: Part 2

KEITH MULLIN, KM CAPITAL MARKETS: CHRISTA, COULD YOU OUTLINE THE KEY THEMES FROM YOUR STANDPOINT AS A SECOND-PARTY OPINION PROVIDER? ALBAN SAID NO INFORMATION IS BAD INFORMATION; I GUESS THAT WOULD GO FOR YOU AS WELL. Christa Clapp, Cicero Shades of Green: Cicero Shades of Green is an external reviewer. We provide, at the time of issuance, second opinions and green ratings on green and sustainability bonds, and SLBs. And we also follow up with reviews of impact reports. Our methodology is based pretty deeply on climate science and we view our...

IFR ESG Capital Markets Roundtable 2021: Part 3

KEITH MULLIN, KM CAPITAL MARKETS: CHRISTA, I’D LIKE TO GET YOUR THOUGHTS ABOUT DATA QUALITY. THE EU TAXONOMY AND GREEN BOND STANDARD HAVE BEEN MENTIONED THROUGHOUT THE DISCUSSION, WE ALSO HAVE THE SUSTAINABLE FINANCE DISCLOSURE REGULATION AND THE PROPOSED CORPORATE SUSTAINABILITY REPORTING DIRECTIVE TO REPLACE THE NON-FINANCIAL REPORTING DIRECTIVE. THERE IS A MOVE TO MAKE SURE THAT COMPANIES DISCLOSE, AND DISCLOSE IN A MATERIAL FASHION. HOW WOULD YOU SUMMARISE THE QUALITY OF DISCLOSURE TODAY? DO YOU HAVE ENOUGH? IF YOU DON’T, WHAT DO YOU DO...