The Social Taxonomy: EU Platform on Sustainable Finance publishes final report
After some delays, the EU expert group consisting of individuals from the public sector, industry and academia, released their final report on the proposed Social Taxonomy. The group took into account feedback received last year and aligned the proposal with new and existing legislation in order to facilitate adherence for companies. This proposal consists of structural suggestions for the design of a social taxonomy, as opposed to specific technical screening criteria, and is expected to form the basis for the future legislative proposal.
In just a few years, sustainability-linked bonds (SLBs) have carved out their place in the sustainable bond market, now representing 10% of total issuance for the year to date. As SLBs gain popularity, potential challenges with the format are beginning to emerge. In this article, we examine some of the difficulties relating to the application of the concepts of materiality and ambitiousness within SLBs and highlight some early research into SLB pricing.
Nordea adviser to the Danish central bank on its launch of sovereign green bonds
A new chapter opened on the Danish government bond market with the central bank’s first issue of sovereign green bonds. Nordea was the structuring adviser on the government’s issue of this new type of financial instrument.
Biodiversity reporting: What is on the horizon for 2022 and beyond?
Biodiversity is rapidly climbing investor and corporate agendas. Leaning on years of important but often underutilised work on the importance of biodiversity, recognition is growing, and actors are beginning to align on the issue. In this article, we outline the initiatives likely to shape the conversation and drive more targeted action over the coming years.
A deep dive on social debt: Formats and applications
The pandemic catalysed an explosion in issuance of social debt, most prominently by sovereign issuers. While the share of social bonds issued has now decreased as pandemic bonds are phased out, investor appetite for the new format remains. We explore how social issues can be integrated into existing debt formats and how they can differ in their application.
Inclusion of gas and nuclear in the EU taxonomy confirmed
In a controversial move, the European Commission has decided to include specific gas and nuclear activities in the list of sustainable investments covered by the EU taxonomy. Nordea's Head of ESG Research Marco Kisic explains what to expect.
The Kingdom of Denmark's first green bond auction in January drew strong investor demand and a large green bond premium, or "greenium," of 5 basis points. Our experts explain why.
Helping clients navigate the sustainable finance landscape
Nordea Sustainable Finance Advisory's Juho Maalahti is eager to help companies and investors tackle new challenges in the fast-developing world of sustainable finance.
Sustainable finance expert Isabella Frenning Willis has her eye on the targets
Isabella Frenning Willis, Nordea Sustainable Finance Advisory's Denmark lead, is focused on helping companies select material and ambitious targets for their sustainability-linked loans and bonds.
The European Commission this summer released its proposed voluntary standard for European green bonds. Now the European Central Bank argues that the standard should be made mandatory. Nordea’s Sustainable Finance Advisory team takes a closer look at the ECB’s view on risks, benefits and practical implementation.
Science Based Targets initiative launches new net-zero corporate standard
Net-zero commitments from companies have taken off in recent years. Now, the Science Based Targets initiative has launched a new science-based certification for those corporate targets. Can it make net-zero pledges more credible?
