The Asian Infrastructure Investment Bank (AIIB) is working with Amundi to measure the Paris-alignment of bond issuers, in a bid to encourage a lower cost of capital for greener companies and encourage climate-related disclosure.
The framework is expected to be endorsed by influential NGO Climate Bonds Initiative (CBI), and will be released for general market usage in September.
As a starting point, the framework will be used to define the investable universe of AIIB’s Asian Climate Bond Portfolio, a recently-launched $500m (€450m) strategy – managed by Amundi – which aims to invest in regional climate leaders.
AIIB is a development bank set up in 2016 to serve Asia and Oceana. It currently has 78 member countries, and is focused on infrastructure investment.
The framework will comprise three categories: ‘A’ ratings for “climate champions”, ‘B’ ratings for those well positioned for a low-carbon transition, and ‘unrated’ - referring to issue…