World Bank passes $10bn milestone for green bond issuance
) The World Bank has released details of two bonds that it sold to Swedish insurance company Folksam last week, taking its total issuance to date beyond $10 billion. The bonds bought by Folksam were a $300 million fixed rate bond paying 2.00% annually, and a $50 million floating rate bond paying one-basis point over three-month dollar Libor.
Global Watchdog Asks Banks to Speak Up Over Global Rules
) Banks should speak up about the benefits of international financial standards if they want to maintain a level playing field, a global regulatory official said on Thursday.
FSB climate task force’s scenario analysis recommendations seen as “challenging” for investors
) Translating the high-level climate disclosure task force’s recommendations about scenario analysis will be “challenging and resource intensive” for institutional investors unfamiliar with the technique, according to new guidance from Asian and Australian investor groups.
FRC tells investors what to look out for in 2017
) Financial Reporting Council (FRC) chief executive Stephen Haddrill has written to institutional investors ahead of the 2017 shareholder meeting season, advising them on what recent developments to look out for in listed companies’ annual reports and accounts
E.U. Market Supervisor Demands Tougher Powers After Brexit
(The Financial Times
) The E.U.’s top markets supervisor has warned that he needs tougher powers to police the risks created by asset managers and other investment firms relocating to the continent after Brexit. Steven Maijoor, the chairman of the European Securities and Markets Authority, said the E.U. should give him a stronger mandate to forge common supervisory standards across the bloc in a bid to avoid companies heading to the countries with the laxest standards.
Shell admits dealing with convicted money launderer in Nigeria
) According to Global Witness and Finance Uncovered, Shell and ENI, an Italian oil and gas company, bought OPL 245, an oil block in Nigeria, for $1.1bn (£0.88bn). It did so knowing that the money would go to former oil minister Dan Etete, who is a convicted money launderer.
More than a third of insurers looking to increase ESG allocation
) More than a third, 38%, of insurers plan to increase their allocation to environmental, social and governance (ESG) strategies over the year, according to a survey by AXA Investment Managers (IM).
Commission publishes latest round report and EU proposals for trade agreement with Mercosur
(European Commission midday express
) The Commission today published as part of its commitment to a more transparent trade and investment policy – a report summarising the progress made during the latest round of negotiations for a trade agreement between the EU and Mercosur (Argentina, Brazil, Paraguay and Uruguay), which took place in Buenos Aires during the week of 20 March.
Bank On Nature: Commission and EIB sign first loan agreement backed by Natural Capital Financing Facility to support biodiversity
(European Commission midday express
) The European Commission and the European Investment Bank (EIB) are announcing today the first loan agreement backed by the Natural Capital Financing Facility (NCFF), a financing partnership between the Commission and the EIB supporting nature and climate adaptation projects through tailored loans and investments, backed by an EU guarantee.
ESMA calls for unified data approach for CMU project
(The Trade News
) A shared data strategy is critical to the success of the European Commission’s (EC) Capital Markets Union (CMU) project, according to the European Securities and Markets Authority (ESMA). In response to the EC’s consultation on CMU launched earlier this year, ESMA has described transparency and data availability as “essential elements” of CMU as they help reduce fragmentation of capital markets and facilitate cross-border supervision.
What is a city? The SDGs depend on an answer
) This month, urban thinkers from the United Nations, the European Commission and other organizations are meeting in Brussels to continue a curiously complex attempt: developing a universal definition of the "city." The meeting is a pivotal step toward ironing out a globally applicable city definition that can be used to measure progress on the Sustainable Development Goals, particularly those that pertain to cities, along with the New Urban Agenda, a global agreement that will guide urbanization over the next 20 years.
Malta wants EU to slow down drive against tax avoidance
) Malta's presidency of the European Union said on Friday the bloc should slow down its drive against corporate tax avoidance because it might hurt Europe's economy by increasing legal uncertainty.
S-Ray: The power of sustainability information
) Georg Kell, vice chair of asset management firm Arabesque and former United Nations Global Compact head, introduces a new data analysis tool that allows anyone to monitor the sustainability of thousands of the world’s largest companies.