Anthropocene Fixed Income Institute

This article proposes a counterparty de-selection algorithm – “the Box” – as a dynamic and low-cost approach that asset managers, asset owners and bond issuers with climate goals can use to steer fossil fee focused banks into better climate alignment over time. 

(15 Sep 2021)

 Green bonds have increased, fossil is unchanged, and individual rankings on banks in this context. We tally bond syndications and associated fees for the full year 2021 on a net green vs fossil funding basis.

(10 Jan 2022)

Technical note: We provide league tables based on percentage fee revenues and netting green bond issuance with fossil bond issuance, as an alternative selection criterion for The Box algorithm. These calculations use 2yr rolling windows.

(23 Sep 2021)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Jun22 IMM date.

(23 June 2022)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Sep22 IMM date.

(10 Sep 2022)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Dec22 IMM date.

(8 Dec 2022)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Mar 23 IMM date.

(10 Mar 2023)

Following last week’s implosion of Credit Suisse and the subsequent acquisition by UBS over the weekend, orchestrated by the Swiss authorities, we update our net green/fossil syndication fee league tables to reflect the merged entity.  

(22 Mar 2023)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Jun 23 IMM date.

(13 Jun 2023)

Update on rankings of key banks based on their net green/fossil fee generation from bonds and loans for the Sep 23 IMM date.

(14 Sep 2023)

The current AFII net green/fossil league table rankings (“The Box”)  allow investors to use banks’ relative syndication fees from fossil and green issuance to influence their counterparty selection. This article expands that analysis to look specifically at the ASEAN and Japan regions. 

(29 Nov 2023)