Environmental Finance Bond Awards judges praised J.P. Morgan's global leadership across supranational and sub-sovereign (SSA) sustainability bonds with one judge noting the bank's "role across ESG bond markets to help and support issuers looking to participate in this market."
Last year it acted as lead manager for 34 sustainability transactions for SSAs globally, across eight currencies. These include issuances in partnership with the International Bank for Reconstruction and Development, Inter-American Development Bank, European Investment Bank, and others; alongside agencies like BNG, Action Logement Services, and Agence France de Development.
J.P Morgan was also the sole lead manager for the International Fund for Agricultural Development's (IFAD) inaugural sustainability bond issuance in Asia.
IFAD has been exploring new funding models to channel more resources to developing countries and vulnerable rural populations. It is the first United Nations Fund and specialised agency other than the World Bank Group to enter the capital markets.
The were notes issued under a structure arranged solely by J.P. Morgan.
Commenting on the award, Sarah Lovedee, head of supranational DCM at J.P. Morgan noted: "We are delighted to receive this recognition of the work we have done this year in support of our SSA clients."
J.P Morgan says that its contributions to the sustainability market are a reflection of its understanding of the market standards, knowledge of the investor base, pricing dynamics as well as that of the challenges faced to bring a sustainability bond to the market.
Lovedee added: "We look forward to exploring new ways to help our SSA issuers communicate their mission to fixed income investors."