Tuesday 21st October 2014
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TUESDAY TICKER: OCTOBER 21ST 2014: The governor of the Bank of England, Mark Carney, has launched a probe into the causes of yesterday’s disruption to Real-time gross settlement (RTGS), the bank's system for settling high value payments - A major loophole in the UK’s criminal records checking system means that IT staff, including those working in critical functions within financial services firms are not permitted to be vetted for fraud, says Simon Culhane, Chartered FCSI and chief executive officer of the Chartered Institute for Securities & Investment (CISI) - Employment in financial and related professional services in London reached a record high of 703,900 in June 2014– 11%, according to TheCityUK’s October 2014 London Employment Survey - LSE-backed multilateral trading facility Turquoise has launched Block Discovery, a new service designed to allow users within the Turquoise Midpoint Dark Book to trade larger block orders by matching block indications - Dominic Wheatley will take up the job of chief executive of Guernsey Finance as of December 1st. Wheatley will replace Fiona Le Poidevin, whose resignation was announced in July and who will head up the Channel Islands Stock Exchange.
Investment banks draw up green bond guidelines Copyright Dreamstime.com

Investment banks draw up green bond guidelines

Monday, 13 January 2014
Investment banks draw up green bond guidelines New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks. http://www.ftseglobalmarkets.com/media/k2/items/cache/63b46f1e9614c655caa7fc03ac211b27_XL.jpg

New principles on the development and issuance of green bonds have been drawn up by a group of large investment banks.

Bank of America Merrill Lynch, Citi, Crédit Agricole CIB and JPMorgan drafted the new framework, which guides disclosing, managing and reporting on the proceeds of a green bond.

Green bonds issued by banks and corporates are proving popular with firms seeking socially responsible investments, recent figures show. High issuance in November 2013 is reported to have doubled the total raised in 2013 to nearly $10bn and positioned the market for further growth.



The new steps are set to provide issuers with guidance on the key components involved in launching a green bond and aid investors evaluating the environmental impact of their investments.

"The development of a robust and liquid market for green bonds is an important progression for debt markets," says Suzanne Buchta, global co-head of Green Debt Capital Markets at BofA Merrill. "In co-authoring these principles we attempt to help standardize the product and we hope to catalyse investment into environmentally sustainable projects, something to which our firm is very committed."

Tanguy Claquin, managing director at Crédit Agricole CIB adds: "We are very pleased to have co-authored and announced the establishment of the Green Bond Principles. This is an important first step towards a more coherent approach to the market of Green and Sustainability Bonds, which will ultimately increase its attractiveness for investors thus encouraging investments into sustainability projects."

BNP Paribas, Daiwa, Deutsche Bank, Goldman Sachs, HSBC, Mizuho Securities, Morgan Stanley, Rabobank and SEB have all backed the principles.

The four banks that drafted the framework are set to propose a governance process that will allow for stakeholder input into the guidelines.

Read more about the Green Bond Principles here <http://www.ceres.org/greenbondprinciples> .

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