We empower fixed income investors to drive the climate transition. Not investment advice.
Joined October 2020
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Anthropocene Fixed Income Institute retweeted
The world's largest oil company is an unlikely beneficiary of funds earmarked for sustainable investments, thanks to a complex web of financial structures used to raise cash. Here's how a "loophole" allowed ESG funds to get involved with Aramco:
🧵(1/10) bloomberg.com/news/articles/…
Anthropocene Fixed Income Institute retweeted
The exclusion by @MSCI_Inc of companies generating over 5% revenue from Arctic #oilandgas from a family of equity indexes has potential implications for fixed income investors.
We assess the likely impact, looking at @Equinor @conocophillips @omv
#bonds
anthropocenefii.org/afii-big…
Anthropocene Fixed Income Institute retweeted
'Asset owners should be asking Asset Managers what's the worst thing in your AM business? That conversation will drive Asset Managers to be more cognisant of doing things in a less aggressive way especially on the fossil fuel funding side.' Ulf Erlandsson
#FTClimateCapital
Anthropocene Fixed Income Institute retweeted
A subtle misstep in SFDR labels created a commercial opportunity for asset managers willing to engage in "intellectual dishonesty".
The @FixedInstitute told @ETF_Stream this has contributed to years of confusion over how to categorise #ESG #ETFs.
etfstream.com/articles/afii-…
Anthropocene Fixed Income Institute retweeted
Chile issued before Uruguay gsh.cib.natixis.com/our-cent… Do check out @FixedInstitute excellent coverage of all sustainability linked finance, if you haven't already! Including great coverage of the sovereign issuances
Anthropocene Fixed Income Institute retweeted
A PPC spokesperson said the energy crisis “may result in the step-up clause on our SLB bonds to be put in place" but does "not see issues with our credit institutions, debt holders or credit agencies from the enforcement of the step-up.”
Anthropocene Fixed Income Institute retweeted
There are also risks to Italian energy producer Enel's end-2023 emissions goal, failure to meet which will trigger €100m of penalties, @FixedInstitute says. Full report can be read here: anthropocenefii.org/afii-slb…
Anthropocene Fixed Income Institute retweeted
It's "virtually impossible" for Greece's Public Power Corp. to meet its end-2022 emissions target, says @FixedInstitute. That would trigger a half-a-percentage-point coupon step-up on €775 million of debt: bloomberg.com/news/articles/…
Anthropocene Fixed Income Institute retweeted
Europe's energy crisis, which delayed coal exit strategies, looks set to trigger penalties in the international market for sustainability-linked bonds.
In other words: companies will need to pay for failing to meet climate goals. Via @FixedInstitute: bloomberg.com/news/articles/…
Anthropocene Fixed Income Institute retweeted
Important story by @RobinHicks_ as #fossifuel industry looks to dump dirty assets worth billions. Watchdog @FixedInstitute calls out Sembcorp for claiming to cut its #carbon footprint by selling an #Indian #coal asset while retaining control over it.
eco-business.com/news/singap…
Anthropocene Fixed Income Institute retweeted
Thanks to @FixedInstitute's research, was able to dig into @sembcorp's sustainability-linked bonds and loans and see how much it has dodged in payments by "selling" its coal-fired power plants in India
Market unphased by @sembcorp's green debt payments step up dodge capitalmonitor.ai/factor/gov…
Anthropocene Fixed Income Institute retweeted
*Carbon arbitrage, at its finest*
What a story @sherylleett, @business!
What a job @UlfErlandsson, @FixedInstitute!
bloomberg.com/news/articles/…
Anthropocene Fixed Income Institute retweeted
AFII thinking on how "SLBs start becoming like a real transition financing instrument that has macro significance” also discussed (under the heading 'SLBlack-Scholes') in this earlier piece: ifre.com/story/3303468/inves…
cc @FixedInstitute @UlfErlandsson @justine_LBell @EmmaThorpeEU
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Anthropocene Fixed Income Institute retweeted
Companies in industries with the biggest carbon footprints aren’t reporting how their emissions feed into financial risk, according to an analysis of corporate reports by the Carbon Tracker Initiative. benvgo.com/UZifJZK
Anthropocene Fixed Income Institute retweeted
Fossil fuel interests are now cynically using the war in Ukraine to try to lock in a high carbon future.
A shift to renewables is crucial to mending our broken global energy mix & offering hope to millions suffering climate impacts today.
Anthropocene Fixed Income Institute retweeted
.@TELUS and @Enbridge deals show SLBs offer no easy answers. By Jon Hay. @UlfErlandsson @FixedInstitute #sustainability #sustainablefinance
spr.ly/6019yrTph
Anthropocene Fixed Income Institute retweeted
Join the Nobel Prize Summit pre-session on Tipping Points in the Anthropocene, starting now at 18:00 CET! nobelprize.org/uploads/2021/…
Anthropocene Fixed Income Institute retweeted
February: @EDOLawyers and client @FixedInstitute raise concerns over bonds issued by the Japan Bank for International Cooperation (JBIC) funding new coal👇
March: JBIC says it will stop funding new coal-fired power plant projects overseas www3.nhk.or.jp/nhkworld/en/n…
Anthropocene Fixed Income Institute retweeted
According to info via @FixedInstitute, @HSBC is a major green bond arranger and lender to @TheOfficialSBI.
Take action at the link to call on @HSBC to take a stand against @TheOfficialSBI's A$1b loan to the Adani Carmichael #coal disaster. #StopAdani
marketforces.org.au/hsbc-can…
Anthropocene Fixed Income Institute retweeted
Since the #ParisAgreement, the world’s installed coal-fired capacity has increased by 137 GW, an amount equal to coal plant fleets of Germany, Russia & Japan combined. Over 500 GW are still in the pipeline. Who are the responsible companies? coalexit.org/