Research

All Bond spotlight Sustainability-Linked Bonds Climate risk pricing Fossil lending Nature loss Transparency Sovereigns and central banks Portfolio analysis Quantitative research
A row of wind turbines at dawn.

One small step for Orlen, one giant leap for the SLB market

29/11/2022

An exploration of the triggering of a sustainability-related financial penalty for PKN Orlen.

A row of wind turbines at dawn.

A review of SLBs approaching KPI observation dates

17/11/2022

In this report, we explore how SLBs can be expected to behave as they go through their “trigger” dates.

A row of wind turbines at dawn.

An option pricing approach for Sustainability-Linked Bonds

08/11/2022

This paper aims to encourage issuers to set robust sustainability targets when structuring SLBs.

A magnifying glass zooming in on some statistics.

Sembcorp: Carbon footprint arbitrage of a lifetime

06/11/2022

In this report, we discuss Sembcorp's sale of thermal coal power in India.

Tilt and run again - Bank of England is selling corporate bonds

04/11/2022

We explore how the Bank of England intends to green its portfolio.

A row of wind turbines at dawn.

Notes on risk-neutral pricing of SLBs and step-down structures

25/10/2022

In this report, we analyse SLB structures through a binomial approach.

Environmental gilt

03/10/2022

In this report, we analyse how corporate sterling green bonds performed amid volatility in the UK markets.

A financial analyst’s Bloomberg keyboard layout.

No green ePIFany

29/09/2022

In this report, we consider whether PIF's new bond deal is really 'green.'

What if...the ECB had decarbonised its portfolio from the start?

20/09/2022

We look into how the ECB can decarbonise its portfolio.

Factories emitting pollution.

Net green/fossil bond syndication league table - Sep 2022

10/09/2022

We update our list of bank counterparty performance in terms of net green vs fossil bonds.

A financial analyst’s Bloomberg keyboard layout.

MHI: The wrong kind of transition

06/09/2022

In this report, we explore how ammonia co-firing features in Japan's transition plans.

A financial analyst’s Bloomberg keyboard layout.

Bond investors and new Queensland thermal coal mines

29/08/2022

We review the status of Queensland Treasury Corporation's grey and green-labelled bonds.

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