South Africa's FirstRand Bank Issues R3.4 Billion in Green Bonds to Finance Renewable Energy
FirstRand Bank issued three green bonds totalling R3.4 billion on 16 May 2024, with proceeds earmarked for renewable energy project finance and solar assets in South Africa.
Federal Reserve Publishes Climate Scenario Analysis Results for Six Largest US Banks
The Federal Reserve has published pilot climate scenario analysis results for six large US banks, finding nascent but progressing capabilities in managing physical and transition risks.
Scotiabank Issues Inaugural EUR 1 Billion European Green Bond, Largest by a Canadian Institution
Scotiabank priced a EUR 1 billion 5-year senior green bond on 17 April 2024, its first in the European market and the largest green bond ever issued by a Canadian institution.
Brazil: Itaú Unibanco Publishes Sustainable Finance Framework Covering 15 Eligible Categories
Itaú Unibanco's April 2024 Sustainable Finance Framework, backed by a Sustainalytics SPO, spans 15 categories including a new Blue Economy designation.
EU's CSRD Takes Effect for Wave 1 Companies, Mandating ESRS Sustainability Reporting for FY2024
Large listed banks, insurers, and firms with over 500 employees must now report under European Sustainability Reporting Standards for financial year 2024.
Attijariwafa Bank Targets 20 Billion MAD Sustainable Portfolio by 2026 as ESG Strategy Accelerates
Attijariwafa Bank has raised its sustainability ambitions for 2024, targeting a 20bn MAD green portfolio by 2026 after cutting CO2 emissions 34% since 2018.
DNB Bank Norway Releases 2024 Green Bond Impact Report on Buildings and Clean Transportation
DNB Bank has released its 2024 Green Bond Impact Report detailing proceeds allocated to green residential buildings and clean transportation loans under its ICMA-aligned framework.
ICMA, Islamic Development Bank and LSEG Publish First Unified Standard for Green and Sustainable Sukuk
ICMA, the Islamic Development Bank and LSEG have published the first unified standard for labelling sukuk as green, social or sustainability instruments.
UK PRA Publishes 2024 Climate Risk Supervisory Agenda Targeting Banks and Insurers
The PRA's 2024 business plan flags climate risk management as a supervisory priority, following January expectations letters sent to regulated firms.
Saudi Arabia Publishes Green Financing Framework for Sovereign Green Bond and Sukuk Issuances
Saudi Arabia's National Debt Management Center has published a Green Financing Framework to enable sovereign green bond and sukuk issuances aligned with Vision 2030.
Australia's AOFM Announces Inaugural 10-Year Green Treasury Bond for Mid-2024 Issuance
The Australian Office of Financial Management announced Australia's first sovereign green bond, a 10-year June 2034 instrument aligned with ICMA Green Bond Principles.
Société Générale Sets 80% Cut in Upstream Oil and Gas Exposure by 2030 and Launches EUR 1 Billion Transition Fund
Société Générale has raised its upstream oil and gas reduction target to 80% by 2030 from a prior 20% commitment, adding a 50% intermediate milestone for 2025.