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This month in a nutshell

  • Agence France Trésor announces that it has successfully launched the fourth French green sovereign bond, with a maturity of 25 years, the green OAT 3.00% 25 June 2049, at an issue rate of 3.201% for an amount of €8 billion. This brings the outstanding amount of green OAT (French 10-year bond) issued to date to ~70 billion euros. The order book reached 98 billion euros, which underlines a high demand.
  • In November, EDF launched its first nuclear green bond (€1 billion, maturity 3.5 years) to restructure the costs associated with upgrading or improving nuclear reactions to bring them in line with the criteria defined by the EU taxonomy.
  • On January 8, 2024, the Ministry of Ecological Transition and Territorial Cohesion published the new Greenfin label standard, entered into force on January 23, 2024. Aligned with the European taxonomy, this new framework now includes nuclear energies in its eligible activities.
  • In January 2024, the Green Bond Principles (GBP) celebrated their 10th anniversary. They aim to help issuers finance environmental-friendly and sustainable projects that promote a zero-emission economy and protect the environment. GBP-aligned issues provide transparent green references.
  • The Institute of Sustainable Finance (IFD) has published its second report* on the integration of climate issues into Corporate Governance. This report makes 10 recommendations to strengthen companies’ governance of energy and ecological transition.

* In French: https://institutdelafinancedurable.com/app/uploads/2024/01/IFD_Gouvernance-de-la-transition-climat-dans-les-entreprises_VF.pdf

Figure of the month

New milestone reached for the sustainable bond market: $4,000 billion in outstanding issues worldwide.

Source: Environmental Finance Data, February 2024

Chart of the month

Amount of assets under management invested in sustainable assets by country and at a global level

sustainable-assets-by-country-global-level

Source: Ostrum AGSI Alliance, November 2023.
Sustainable Assets include the following sustainable investment strategies: ESG integration, norms-based screening, negative/exclusionary screening, sustainability themed investing, positive/best-in-class screening, impact/community investing, corporate engagement and shareholder action

  • Timothée Pubellier, CFA

    Timothée Pubellier, CFA

    Senior Fixed Income Portfolio Manager

Reading time : 5 min.
NEWS CSR / ESG
Every year, Ostrum AM publishes a Report on its exercise of voting rights.
04/03/2024
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INSIGHTS CSR / ESG
Every month, find out all about the sustainable market bonds news in our newsletter « MySustainableCorner ».
03/27/2024
Reserved for pros
Reading time : 15 min.
INSIGHTS CSR / ESG
Highlights The sustainable bond market has seen significant growth since its inception in 2007. Issues are now approaching $1 trillion a year and account for more than a quarter of new issues in the eurobond market. Sustainable bonds can amplify investors’ approach to sustainable investing, and finance a climate transition respectful of societies and economies. Long-term stability is critical for fixed income investors, and sustainability-focused companies are more likely to minimise transition and financial risks, while having a closer engagement with stakeholders.
02/23/2024
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