Every month, find out all about the sustainable market bonds news in our newsletter
« MySustainableCorner ».
This month in a nutshell
- Green buildings are crucial to achieve the global goals of zero emissions. ISSB standards and new EU regulations could help make buildings greener. Companies such as Alphabet and La Poste already use sustainable bonds to finance green buildings, but this remains marginal.
- The European Union has introduced the Corporate Sustainability Reporting Directive (CSRD). It came into force on January 1, 2024 and sets new standards for extra-financial reporting.
- The ICMA has set new guidelines on blue bonds aimed at encouraging sustainable investments in this area, thereby addressing current challenges while capitalizing on the opportunities offered by a sustainable blue economy. Blue bonds operate on the same model as green bonds with are related to seas and oceans.
- On December 12, the French Minister of the Economy, Finance and Industrial and Digital Sovereignty, announced the publication of new guidelines for the French SRI Label. They reinforce the requirements for security selection and climate impact becomes a Label’s key principle.
- BP and Equinor are canceling the New York offshore wind project known as “Empire Wind 2” particularly due to the increase in the price of materials. The project intended to be constructed 15 to 30 miles off the coast of Long Island providing clean energy to hundreds of thousands of people.
Figure of the month
~ $1 trillion of sustainable bonds forecasted for 2024.
Source: HSBC, November 2023
Chart of the month
Distribution of sustainable bond issues (USD bn eq.)
Source: Market sources + Ostrum AM