Gustavo Bernal Torres
Net Green/Fossil Bond Syndication League Tables
New piece from the Anthropocene Fixed Income Institute: Net green/fossil bond syndication league tables.
The report provides a ranking of banks based on fossil fee revenues only, not accounting for potential green revenue generation on the other side. Arguably, it is different for a bank to have 10% fossil fee revenues, when the remainder (90%) is green, compared to if there are no green efforts at all. In order to gauge this, this note considers the net fossil (green bonds minus fossil bonds) syndication fees as a % of total syndication fees.
At the top of the ranking are European banks Deutsche Bank, BNP, and UBS.