Capital Monitor - Measuring the real impact of sustainable capital

Corporate lobbying: How an energy giant is hindering climate action

One of Africa’s biggest polluters, energy and chemicals group Sasol has repeatedly refused to table resolutions calling for disclosure of climate lobbying activities. Similarly obstructive tactics have been used elsewhere, including in Europe.

By Paul Hodgson

Banks

Will banks help or hinder the carbon offset market?

Banks say they can help build scale in voluntary carbon markets, by providing services from market-making to deal origination and stewardship. But some say it is too early for such intervention, arguing that profits still need to go into developing technologies.

Equity

Can asset managers ‘game’ net-zero targets?

Intense disagreement has broken out over asset managers’ fragmented net-zero target-setting approach, with some suggesting it is easy to game the system.

Government

How sustainable can sovereign debt be?

As another emerging economy gears up to tap international markets with a green bond, Capital Monitor explores how much potential there is for governments to make their debt sustainable.

Fixed income

How a supermarket giant grapples with ESG data challenge

A corporate treasurer’s work has historically revolved around cash flow forecasts, but increasingly involves defining sustainability key performance indicators and monitoring ESG data. Miguel Silva Gonzalez of Dutch supermarket giant Ahold Delhaize gives his take.

White Papers

CEO compensation bank front cover - cropped

Linking CEO remuneration to ESG targets

Capital Monitor

The circular economy as a de-risking strategy and driver of superior risk-adjusted returns

Ellen MacArthur Foundation

Banks

How ING aligned 45% of its lending book to net zero

Banks globally are grappling with the challenge of decarbonising their lending portfolios. Dutch lender ING has devised sector pathways for the nine most emissions-heavy sectors in its loan book – here’s how it did so.

Asset owners

Mapfre: “Tsunami” of ESG rules could stymie climate progress

The chief investment officer of Spanish insurer Mapfre says EU regulators' attempts to supervise sustainable assets are too prescriptive, in that they lack essential interpretative context. This, he adds, is also partly why external ESG ratings fail to add major value.

Impact

Drive to standardise impact measurement gathers momentum

Under pressure from the financial sector, the EU, G7 and other influential bodies are ramping up the push to achieve consistent measurement and reporting of sustainability impact amid concerns that separate initiatives are hindering this goal.

Fixed income

The lowdown on NTU’s landmark sustainability-linked bond

Singapore's Nanyang Technological University has sold a bond that is only the second of its kind globally. If it misses its targets, the step-up money will go into climate research or carbon offsets, not to investors. Capital Monitor gets the skinny from NTU finance chief Ong Eng Hock.

Fixed income

Banks flag greenwashing worries over sustainability-linked debt

With investors pushing back on what they see as weak or immaterial claims by issuers of sustainability-linked debt, banks are now citing similar concerns – though they are still arranging deals seen as questionable.

Asset owners

How securities lending is responding to ESG-related scrutiny

The lucrative business of securities lending – often criticised for lacking transparency and not being aligned with long-term responsible investment – is in the spotlight more than ever. But ESG-related standards are being developed for the industry.

Environmental

Follow the money to fight ‘big oil’, says ClientEarth chief

The founder of ClientEarth, James Thornton, explains how the environmental law charity takes on large corporates and governments to tackle climate change.

Opinion

Sustainability-linked bonds could help solve UK inflation woes

As one of the more eager issuers of bonds linked to inflation, the UK faces the prospect of higher borrowing costs as high inflation begins to look less temporary than initially expected. Sustainability-linked bonds, relatively new instruments, could provide a long-term antidote.

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