Agenda 2 November12 November13 November

11.30am

Chair’s welcome (all times in GMT)

Set up your attendee profile, listen to case studies and connect with attendees.

An information resource for the community

CASE STUDY: Opening the European market to non-traditional corporate issuers – EIB and Amundi's GRECO Fund
Daniel Farchy, Equity Investment Officer, EIB
Timothée Jaulin, Head of Supranational Entities Coverage, Amundi

CASE STUDIES: Showcasing how the market is expanding, how the issuer landscape is evolving, investor appetite, and growth trajectories for:

  • Blue bonds
  • Climate-resilient bonds
  • Covered green bonds
  • Clean water and biodiversity bonds

Inês Faden da Silva, Group Treasurer, Tideway
Craig Davies, Head of Climate Resilience Investments, EBRD

CASE STUDY: Exploring the rise in sustainability-linked loans and predictions for future growth

  • Mapping the sustainability-linked loan market and players:
    • to what extent are sustainability-linked loans opening up the market to smaller issuers?
  • Comparing sustainability-linked loans with sustainability-linked bonds, such as materiality in KPIs, verification and compliance requirements
  • What efforts are being made to bring more transparency and standardisation to sustainability-linked loans?
  • Issuer case studies and perspectives on market growth
  • Predicting future trends and outlook for sustainability-linked loans: are they likely to overtake the sustainability-linked bond model?

Gemma Lawrence-Pardew, Senior Associate Director – Legal, LMA

CASE STUDY: Enel's bond

CASE STUDY: Green bond funds

Other case studies to be added as an information resource for the community.

11.30

Keynote Address

Cynthia Cummis, Co-Founder, Science Based Targets Initiative & Director of Private Sector Climate Mitigation, World Resources Institute

12.00

DEBATE: Is the use-of-proceeds model fit for purpose?

Given the emergence of the sustainability/KPI-linked bond, will the industry do away with the original use-of-proceeds model? Or can these 2 models co-exist?

Moderator:
Tanguy Claquin, Head of Sustainable Banking, Crédit Agricole CIB

Ben Caldecott, Director, Oxford Sustainable Finance Programme and Associate Professor, Smith School of Enterprise and the Environment, University of Oxford
Jens Hellerup, Senior Director, Head of Funding and Investor Relations, Nordic Investment Bank
Stan Dupré, Founder & CEO, 2 Degrees Investing Initiative

12.40

PANEL: Transition bonds and judging issuers' transition strategies

  • Defining the materiality of a transition bond and its purpose:
    • is it essentially just a light green bond? Should a transition bond even be labelled as such, or rather just focus on the transition itself?
    • what are the risks of allowing "dirty" issuers to participate in the labelled bond market?
    • how to strike the right balance between purity and pragmatism?
    • will or can transition bonds be issued without adhering to the EU taxonomy criteria?
  • Sharing the latest outcomes from ICMA's Climate Transition Finance Working Group
  • Examining the transition bonds issued so far, and the transition strategies used:
    • how could this pave the way for future issuances?
  • What are the growth prospects for the transition bond market? What needs to happen for issuance to reach critical mass?

Moderator:
Cristina Lacaci, Executive Director, Morgan Stanley

Isabelle Laurent, Deputy Treasurer and Head of Funding, EBRD
Sergio Molisani, Finance Director, SNAM
Rhys Petheram, Manager of the Jupiter Corporate Bond Fund, Jupiter Asset Management
Yo Takatsuki, Head of ESG Research & Active Ownership, AXA Investment Managers UK Limited

13.20

Issuers and investors huddle – what do we need from each other?

  • What do issuers need to know?
    • investor insights on selection criteria for sustainable assets
    • how investment strategies are evolving, such as divestment from brown assets, and approaches to transition risk
    • how other issuers are managing increased reporting burdens and responding to investors' data needs
  • What do investors need to know?
    • how to get greater transparency, and access to the right data
    • issuer insights on how they are improving and integrating their reporting
    • the issuers' ESG track record and approach to climate risk, and how ESG integration is impacting their issuance strategy
    • how non-green issuers are attempting to play a meaningful role in transitioning to a low-carbon economy
  • Which new products and innovations are needed by both issuers and investors?
  • What market convergence is needed?

Moderator:
Philip Brown, Managing Director – Capital Markets Origination, Citi

14.00

Speed networking

14.10

PANEL: Strategies for boosting the social and sustainability bond markets

  • Issuance trends, by geography and sector:
    • Social bonds
    • Sustainability bonds
  • Which sectors are showing the most growth potential, and why?
  • Yield versus impact
  • What needs to happen for these bonds to take off?

Moderator:
Stéphane Marciel, Head of Sustainable Bonds, Société Générale

David Gregg, Interim CFO, Yorkshire Water

14.50

PRESENTATION: Social Bonds and Covid-19: The Next Phase

  • What part can the Social Bond market play in the fight against pandemics such as Covid-19?
  • What opportunities are there for Social Bonds through different phases of a pandemic?
    • Health treatment and infection reduction
    • Maintaining business continuity
    • Vaccine development and delivery
    • Economic recovery
  • Examples of Covid-19 related Social Bonds

Christopher Wigley, Independent ESG Fixed Income Portfolio Manager

15.10

PANEL: Sustainability-linked bonds

15.50

ROUND TABLE DISCUSSION GROUPS:

Participate in discussion groups via group video call with up to 20 individuals. Share experiences, learn and connect with each other. Sessions are run twice for 25 minutes each.

(15.50pm GMT / 10.50am East Coast Americas and again at 16.20pm GMT / 11.20am East Coast Americas)


Discussion group topic: transition bonds
Discussion group topic: pandemic bonds
Discussion group topic: bond funds
Discussion group topic: use of proceeds
Discussion group topic: impact reporting
Discussion group topic: developing strategies to boost non-Covid social and sustainability bond markets
Discussion group topic: sustainability-linked bonds
(Additional discussion group topics to be added)

16.50

CLOSING REMARKS

17.00

ENDS

10.30

Keynote: An update on the EU’s sustainable finance action plan

11.00

PANEL: Macroeconomics and financial stability – perspectives from central banks on climate risk and sustainable finance

  • Analysing the role of central banks in climate risk, and the relationship between sustainability and risk management when regulating financial institutions
  • Exploring the recommendations for action developed by the Network for Greening the Financial System in 2019, and how these are being implemented
  • Best practices for integrating sustainability criteria into portfolio management of central banks
  • Examining central bank perspectives on GSS bonds and other newly emerging bonds

11.40

Speed networking

11.50

PANEL: ESG ratings for fixed income

  • Do investors use ESG ratings by third-parties when making investment decisions in fixed income instruments?
  • Linking green/sustainable loans to corporate sustainability KPIs and ESG ratings
  • Ratings process and methodologies – from the corporate and ratings agencies' perspective
  • How can ESG rating methodologies be more transparent and standardised?

Christine Sobieski, Head of ESG Engagement, Ørsted
Christoph Klein, Managing Partner, ESG Portfolio Management
Mitch Reznick, Head of Research and Sustainable Fixed Income, Federated Hermes

12.30

PANEL: The role of ESG in sovereign debt strategies and investor-sovereign engagement

  • How are sovereigns integrating ESG into their fixed income portfolios?
  • What factors are impeding bigger or better ESG integration?
  • The challenges of investor engagement with sovereigns – what more needs to happen?
  • Can/should large investors play a more activist role with sovereigns?

Moderator:
Carmen Nuzzo, Head of Fixed Income, PRI

Claudia Gollmeier, Managing Director & Senior Investment Officer Colchester Global Investors

13.10

Speed networking

13.20

PANEL: EU Taxonomy – implementation update and implications for the sustainable fixed income market

  • What has been, and will be, the market impact?
  • Navigating the technical complexities to understand the practical implications and future hurdles to prepare for
  • How can investors and issuers be engaging to ensure alignment with the taxonomy?
  • Discussing the taxonomy's definition of transition - industry interpretations
  • Global impact: to what extent could the taxonomy framework be adapted to and harmonised with other markets outside the EU?

Sevinc Acar, Investment Director, Fixed Income, PGGM
Jochen Krimphoff, Deputy Director - Green Finance, World Wide Fund for Nature (WWF) & TEG Member

14.00

PANEL: Developments in the EU's green bond standards, and how they relate to the taxonomy

14.30

DISCUSSION GROUPS

Participate in discussion groups via group video call with up to 20 individuals. Share experiences, learn and connect with each other. Sessions are run twice for 25 minutes each

(14.30pm GMT / 9.30am East Coast Americas and again at 15.00pm GMT / 10am East Coast Americas)

Discussion group: ESG data challenges and factors for analysis
Discussion group: ESG ratings
Discussion group: Sovereign and corporate engagement
Discussion group: EU's Ecolabel for bond funds
Discussion group: EU GBS/ China alignment
Discussion group: EU taxonomy
Discussion group: EU green bond standard
(Additional discussion group topics to be added)

15.30

CLOSING REMARKS

15.40

END