Daily ESG Briefing: NNIP smashes €3bn in green bond assets

The latest developments in sustainable finance

NN Investment Partners has hit €3bn in green bond investments, it has announced. The firm launched its first green bond strategy four years ago, and now has a number of other products dedicated to the asset class. It runs €3bn across all the strategies and mandates, and hired three more green bond specialists to add to its team last month, bringing the total to six.

The European Investment Fund has signed up to the Principles for Responsible Investment. The EU agency was set up in 1994 to support the region’s SMEs and is part of the European Investment Bank Group. “As a PRI signatory, the EIF will further enhance its ESG investment practices and processes,” it said in a statement. “This cooperation is in line with EIF’s strong commitment to support the European Green Deal and the EU Climate Bank new level of ambition.”

The Carbon Trust has worked with the UK Government to release a report “to help Chinese financial institutions assess climate risk”. The UK Partnering for Accelerated Climate Transition – China Green Finance Programme is part of the Government’s International Climate Finance initiative, which seeks to help other countries manage financial risks from climate change. How to anticipate a Green Swan event  outlines climate transition risk and its importance to Chinese financial institutions, with a particular focus on China’s banks.

The Institute for Energy Economics and Financial Analysis (IEEFA) has found that 50 financial institutions have now introduced policies restricting oil sands and/or oil and gas drilling in the Arctic, including 23 so far this year. The European Investment Bank has the strictest and best policy, according to the research.

Barclays, BNP Paribas, Deutsche Bank, Nomura and UniCredit have been appointed joint lead managers on the EU’s debut social bond issuance, according to reports. Proceeds will be used to boost employment amid the fallout from coronavirus. 

The Deputy Governor of Spain’s central bank has called for “appropriate information [and] more detailed data and metrics to be able to implement an appropriate assessment of climate risk,” during a speech to the Network of Central Banks and Supervisors for Greening the Financial System. “I believe that robust and internationally consistent climate and environment-related disclosure is a precondition to tackle these risks," said Margarita Delgado Tejero, as well as discussing Banco de España’s own climate strategy.

AXA Investment Managers has teamed up with the Responsible Investment Association Australasia to launch a Financial Adviser Guide to Responsible Investment, looking at how financial advisers can best deliver relevant advice to their clients in Australia and New Zealand. “Advisers must understand both the broad trends in ESG as well as the nuances of the different types of investments so they can guide investors,” said Yo Takatsuki, Head of ESG Research and Active Ownership at AXA IM. “They should talk to investors about their financial goals as well as their specific ESG goals.”