Blue ESG’s Post

Financial products are increasingly being linked to sustainability key performance indicators - KPI's. Adoption and implementation of impactful ESG strategies, goals based methodologies to internationally recognised standards and frameworks offer the opportunity to unlock finance and business development opportunities. Aviva Investors & BNP Paribas complete first sustainability-linked transaction for Associated British Ports Associated British Ports (‘ABP’) announces it has completed a sustainability-linked interest rate swap repack transaction with Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), and BNP Paribas. The 30-year Sterling Overnight Index Average (SONIA) linked interest rate swap transaction is believed to be the first SONIA-linked interest rate swap institutional repack transaction and the first institutional repack transaction to have sustainability-linked key performance indicators (KPIs) attached to it. The performance targets were subject to second party #verification by ISS Corporate Solutions, to ensure they were both sufficiently material and ambitious in nature, whilst also remaining aligned to Loan Market Association sustainability-linked loan principles. As part of the deal, a discount is offered to ABP on its hedging rate, provided that ABP meets certain #sustainability-linked #KPIs. These KPIs require ABP to achieve a significant reduction in its combined #Scope1 and #Scope2 emissions by 2030, building on the 36% reduction it has achieved in its absolute greenhouse gas emissions since 2014. Munawer Shafi, Head of Structured and Private Debt at Aviva Investors, said: “We are delighted to have completed this innovative transaction with ABP and BNP Paribas. It further demonstrates our ability to incorporate sustainability considerations into bespoke transactions, while continuing to deliver the desired economic outcomes for all parties, as well as attractive risk-adjusted returns for our clients. We are committed to deploying capital to where it is needed to help our clients achieve their #sustainability goals, and hope that this transaction will speed the adoption of #ESG-#linked transactions in the swap repack space.” Get in touch: - No obligation 60 minute Masterclass on 'ESG in Maritime'. - Explore how Blue ESG unlocks ESG opportunity for your business. Email: info@blue-esg.com Blue ESG - Maritime ESG Made Easy ---------------- Green Pays Off: $4 #Trillion Revenue Boost for Growth of ESG-Focused Businesses Source: International accounting bulletin --------------- #esg #esgreporting #esgstrategy #unlock #finance #opportunity #emissions #goalbased #scope1 #scope2 #scope3 https://lnkd.in/d6mh5zgF

5 big news in the world of sustainability: 1. UBS Expands Shipping Loans Amidst Green Overhaul Post-Merger: UBS has announced plans to increase its lending to the shipping sector while phasing out loans to fossil fuel clients inherited from Credit Suisse. This move is part of UBS's broader strategy to integrate the sustainability frameworks of the merged banks and align its lending practices with its net-zero commitments. 2. UK's Greenhouse Gas Emissions Drop by 5.4% in 2023: The UK saw a significant reduction in greenhouse gas emissions, largely due to decreased gas use in electricity generation and heating. This decline supports the country's target of net-zero emissions by 2050, with major cuts observed in the electricity and industrial sectors. 4. SLB and Aker Carbon Capture Merge Carbon Capture Businesses: SLB (formerly Schlumberger) and Norway's Aker Carbon Capture are merging their carbon capture operations. This partnership aims to accelerate the deployment of carbon capture technologies, potentially reducing the costs and increasing the adoption of these solutions across high-emitting industries. 5. Hydrogen Industry Seeks Eased Path to US Tax Credits: Hydrogen companies are lobbying the US Treasury for relaxed environmental requirements to qualify for the 45V tax credit under the Inflation Reduction Act. Industry leaders argue that current requirements could hinder the growth of hydrogen projects, while some environmental groups support maintaining stringent standards. 6. Eneco Withdraws from Dutch Offshore Wind Farm Tender: Eneco has decided not to bid for a major 4 GW offshore wind farm in the Dutch North Sea due to rising costs and supply chain challenges. This withdrawal highlights the financial and logistical hurdles faced by large-scale renewable energy projects, prompting calls for a redesign of tender processes to better manage risks. Let me know if you find this post useful. Looking to make this a weekly series. Have a great week ahead! #sustainability #esg #carbonfootprint #netzero

Big news in the world of sustainability: 1. UBS Expands Shipping Loans Amidst Green Overhaul Post-Merger: UBS has announced plans to increase its lending to the shipping sector while phasing out loans to fossil fuel clients inherited from Credit Suisse. This move is part of UBS's broader strategy to integrate the sustainability frameworks of the merged banks and align its lending practices with its net-zero commitments. 2. UK's Greenhouse Gas Emissions Drop by 5.4% in 2023: The UK saw a significant reduction in greenhouse gas emissions, largely due to decreased gas use in electricity generation and heating. This decline supports the country's target of net-zero emissions by 2050, with major cuts observed in the electricity and industrial sectors. 4. SLB and Aker Carbon Capture Merge Carbon Capture Businesses: SLB (formerly Schlumberger) and Norway's Aker Carbon Capture are merging their carbon capture operations. This partnership aims to accelerate the deployment of carbon capture technologies, potentially reducing the costs and increasing the adoption of these solutions across high-emitting industries. 5. Hydrogen Industry Seeks Eased Path to US Tax Credits: Hydrogen companies are lobbying the US Treasury for relaxed environmental requirements to qualify for the 45V tax credit under the Inflation Reduction Act. Industry leaders argue that current requirements could hinder the growth of hydrogen projects, while some environmental groups support maintaining stringent standards. 6. Eneco Withdraws from Dutch Offshore Wind Farm Tender: Eneco has decided not to bid for a major 4 GW offshore wind farm in the Dutch North Sea due to rising costs and supply chain challenges. This withdrawal highlights the financial and logistical hurdles faced by large-scale renewable energy projects, prompting calls for a redesign of tender processes to better manage risks. #sustainability #esg #carbonfootprint #netzero

5 big news in the world of sustainability: 1. UBS Expands Shipping Loans Amidst Green Overhaul Post-Merger: UBS has announced plans to increase its lending to the shipping sector while phasing out loans to fossil fuel clients inherited from Credit Suisse. This move is part of UBS's broader strategy to integrate the sustainability frameworks of the merged banks and align its lending practices with its net-zero commitments. 2. UK's Greenhouse Gas Emissions Drop by 5.4% in 2023: The UK saw a significant reduction in greenhouse gas emissions, largely due to decreased gas use in electricity generation and heating. This decline supports the country's target of net-zero emissions by 2050, with major cuts observed in the electricity and industrial sectors. 4. SLB and Aker Carbon Capture Merge Carbon Capture Businesses: SLB (formerly Schlumberger) and Norway's Aker Carbon Capture are merging their carbon capture operations. This partnership aims to accelerate the deployment of carbon capture technologies, potentially reducing the costs and increasing the adoption of these solutions across high-emitting industries. 5. Hydrogen Industry Seeks Eased Path to US Tax Credits: Hydrogen companies are lobbying the US Treasury for relaxed environmental requirements to qualify for the 45V tax credit under the Inflation Reduction Act. Industry leaders argue that current requirements could hinder the growth of hydrogen projects, while some environmental groups support maintaining stringent standards. 6. Eneco Withdraws from Dutch Offshore Wind Farm Tender: Eneco has decided not to bid for a major 4 GW offshore wind farm in the Dutch North Sea due to rising costs and supply chain challenges. This withdrawal highlights the financial and logistical hurdles faced by large-scale renewable energy projects, prompting calls for a redesign of tender processes to better manage risks. Have a great week ahead! #sustainability #esg #carbonfootprint #netzero

5 big news in the world of sustainability: 1. UBS Expands Shipping Loans Amidst Green Overhaul Post-Merger: UBS has announced plans to increase its lending to the shipping sector while phasing out loans to fossil fuel clients inherited from Credit Suisse. This move is part of UBS's broader strategy to integrate the sustainability frameworks of the merged banks and align its lending practices with its net-zero commitments. 2. UK's Greenhouse Gas Emissions Drop by 5.4% in 2023: The UK saw a significant reduction in greenhouse gas emissions, largely due to decreased gas use in electricity generation and heating. This decline supports the country's target of net-zero emissions by 2050, with major cuts observed in the electricity and industrial sectors. 4. SLB and Aker Carbon Capture Merge Carbon Capture Businesses: SLB (formerly Schlumberger) and Norway's Aker Carbon Capture are merging their carbon capture operations. This partnership aims to accelerate the deployment of carbon capture technologies, potentially reducing the costs and increasing the adoption of these solutions across high-emitting industries. 5. Hydrogen Industry Seeks Eased Path to US Tax Credits: Hydrogen companies are lobbying the US Treasury for relaxed environmental requirements to qualify for the 45V tax credit under the Inflation Reduction Act. Industry leaders argue that current requirements could hinder the growth of hydrogen projects, while some environmental groups support maintaining stringent standards. 6. Eneco Withdraws from Dutch Offshore Wind Farm Tender: Eneco has decided not to bid for a major 4 GW offshore wind farm in the Dutch North Sea due to rising costs and supply chain challenges. This withdrawal highlights the financial and logistical hurdles faced by large-scale renewable energy projects, prompting calls for a redesign of tender processes to better manage risks. #sustainability #esg #carbonfootprint #netzero

🌟Big news from Deutsche Bank! In a recent feature published on ESG Today, Deutsche Bank is now tying a portion of its senior executives' compensation to reducing the carbon footprint of its corporate loans. This forward-thinking move reflects Deutsche Bank's commitment to sustainability and ESG integration. 🔗 Learn more about this ground-breaking initiative in Deutsche Bank's recent Annual Report here: https://lnkd.in/gZnqgTGT #DeutscheBank #Sustainability #ESG #FinanceLeadership #carbonfootiprint #VesselBot🌱

Major win for transition finance. Barclays released a new transition finance framework, outlining its criteria for classifying financing to decarbonize high-emissions sectors as “transition,” as part of its efforts to achieve its goal to facilitate $1 trillion in sustainable and transition finance by 2030. #sustainablefinance #climatetransition #transitionfinance

Investors and banks finance 'green' bond issued by world's biggest private coal developer. Adani Group sells first dollar bond since the Hindenburg Research report. The Toxic Bonds Network condemns the investors and banks that have facilitated and invested in the so-called ‘green’ bond issued by Adani Green Energy Ltd. This bond, tainted by allegations of greenwashing, related party transactions and serious governance concerns, marks a significant test for the international financial community – a test that many have failed, effectively endorsing a facade of sustainability while enabling the world’s biggest private coal developer to continue its expansion of fossil fuel projects. The withdrawal of investors and banks including Norges Bank Investment Management, KLP, Temasek, Zürcher Kantonalbank and Danske Bank since Hindenburg underscores a growing recognition within the financial community of the grave concerns surrounding Adani. Yet many investors and banks’ were willing to overlook the significant governance, legal, climate and financial risks. Barclays, DBS Bank, Deutsche Bank, Intesa Sanpaolo, Standard Chartered, Mizuho, MUFG, Sumitomo Mitsui Banking Corporation – SMBC Group, Societe Generale all endorsed Adani's misdeeds by underwriting this bond issuance. They have knowingly exposed their clients and the broader financial system to considerable reputational and financial risks. https://lnkd.in/d8Kx_aKE

#IFC and BNP Paribas Bank Polska announced a new Synthetic Significant Risk Transfer (Synthetic SRT) transaction, which will help increase sustainable finance for renewable energy, water efficiency, and clean transportation projects in Poland. This transaction, in which IFC will take mezzanine exposure to a $548 million-equivalent BNPP Poland on-balance sheet credit portfolio, marks the first SRT transaction by BNPP Poland and the second between IFC and BNPP Group (where the first involved BNPP Group's global emerging markets trade finance operations). IFC's investment will assist the bank in generating new PLN-denominated sustainable finance loans in Poland. The project marks IFC's first SRT with the "Simple, Transparent, and Standardized" designation, which enables such transactions to be more scalable for issuers, investors, and regulators. #IFC #IFCPoland #sustainablefinance #greenfinance #BNPP

“As investors become more #sophisticated in their understanding and application of #ESG #principles, they are reassessing their policies and practices, leading to a rationalisation of what truly constitutes an ESG driven approach. This means that #sovereign #investors are now applying #stricter #definitions, recognising that their previous approaches may not have met the higher standards that have emerged in recent years.” https://lnkd.in/gSETSV-A