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representing the largest source of market finance dedicated to sustainability and climate transition available internationally to corporates, banks and sovereigns - announce new and updated publications including new definitions for green securitisation, updated key performance indicators for Sustainability-Linked Bonds and new resources for climate transition finance.
Specific publications and resources released today are:
The Principles have also released today additional guidance, updates and templates, specifically:
The standards and guidance from the Principles are developed with the input of over 400 market participants and stakeholders, as well as the participation of many other organisations through technical working groups. In 2021, the Principles were referenced by an estimated 98% of sustainable bonds issued globally and have been translated into 25 languages.
The new and updated publications and resources in support of market transparency and development are being announced at the 2022 Annual Conference of the Principles on the 28 June in London. The conference will also feature discussions on workstreams concerning the application of the Principles in a wider context, including commercial paper and repo, as well as high yield and emerging markets.
Denise Odaro, Chair of the Principles, Head of Investor Relations, International Finance Corporation (IFC), said: ”The Principles serve as a model for incorporating sustainability into capital markets, and the updates this year ensure that they remain current with market developments while also recognising emerging related products. Additionally, the updated KPI registry and climate transition methodologies stand to aid issuers to fundamentally and rapidly advance the transition to a low-carbon economy via the bond market and beyond.”
Nicholas Pfaff, Deputy Chief Executive and Head of Sustainable Finance, ICMA, said: “The 2022 announcements of the Principles represent critical support for market integrity and development. Sustainability now permeates all areas of the capital markets. The Principles provide market participants and stakeholders with an essential reference for product standards, agreed terminology and technical consistency, as well as a resource to benchmark ambition.”
Ashley Schulten, Head of Responsible Investing for Global Fixed Income, BlackRock, and Vice-Chair of the Principles, said: “What the Principles have accomplished over the years has been truly impressive. This has been possible thanks to the very active participation across various market players, the incredible support of ICMA, and the input through our member and advisory network covering the sustainability ecosystem. These updated guidelines reflect hundreds of hours of research, feedback and consensus-building across this community.”
Tanguy Claquin, Global Head of Sustainable Banking, Crédit Agricole CIB and Vice-Chair of the Principles, said: “As every year, the Principles community publishes new best practices and guidelines for the sustainable bond market. It is a great toolbox for market participants, but also a great reference for stakeholders and regulators that can be used to ensure market transparency and credibility. I want to deeply thank all the people who have dedicated their time to the development of these new texts.”