Fossil lending

Investigations, analyses and rankings on debt lending that facilitates fossil fuel expansion, undermines climate goals and contradicts institutional ESG policies, helping counterparties to engage on climate issues and advocate for change.

All Bond spotlight Sustainability-Linked Bonds Climate risk pricing Fossil lending Nature loss Transparency Sovereigns and central banks Portfolio analysis Quantitative research
Factories emitting pollution.

ESG engagement and XL AUM growth

10/06/2021

Keystone XL tar sand pipeline project finally ceases.

Factories emitting pollution.

California flarin'

09/06/2021

Ameredev leads the way in the sector in terms of methane flaring in the Permian Basin.

A financial analyst’s Bloomberg keyboard layout.

Pump. Dump. Socialism.

02/06/2021

Dalrymple Bay IPO continues to be an open wound for anyone invested.

An overhead photo of a road submerged by floodwater.

Big Oil's terrible day: Bond market (lack of) reactions

01/06/2021

Oil companies spreads hardly move following negative news flow.

An overhead photo of a road submerged by floodwater.

Exxon capital structure arbitrage/impact trade idea

21/05/2021

To reduce hydrocarbon capex and leverage up the balance sheet, buy Exxon equity, short the credit.

An overhead photo of a road submerged by floodwater.

Credit investors, rating agencies and climate: Exhibit 1

14/05/2021

Issuer credit ratings are vulnerable to refinancing risks.

Factories emitting pollution.

"Peak greenwashing"

06/05/2021

A review of Citigroup's decision to act as lead for largest coal operator's new bond

A financial analyst’s Bloomberg keyboard layout.

Lipstick on a pig: NAB's sustainability loan to coal

04/05/2021

NAB's sustainability loan exposes investors to coal financing

Factories emitting pollution.

A lignite revolver? New EPH loan deal comment

03/04/2021

EPH €1 billion loan deal is effectively coal funding.

The steps of a government building.

Blackpink or BlackGold? Short KNOC notes

29/03/2021

Korea lets go the BlackGold oil sand project and backs Blackpink COP26.

The steps of a government building.

Tar sand new issue alert: Korea National Oil Corporation

24/03/2021

Given KNOC's tar sand exposure, syndicating banks should request a carbon footprint on behalf of KNOC.

The steps of a government building.

The Reformed SSA Trader: "Be aware of" ideas of March

12/03/2021

A proposal for JICA to sell Japan sovereign CDS instead of funding coal.

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