The intent of this league table is to rank the relative tilt of individual counterparties’ commercial banking activities for purposes of ‘The Box’ counterparty selection algorithms.
The report covers a select number of large and intermediate potential counterparties. Fees are calculated over a two-year rolling window, and changes are reported versus the last report in Sep-22 as well as compared to Dec-21 and Dec-20.
In this update, the most notable shifts among the large institutions, are the improvement of Goldman Sachs (up two places) and Morgan Stanley (+3), indicating relatively more green vs fossil bond/loan fee generation, and the fall of SMBC (-5) and Deutsche Bank (-3). RBC appears to firm up its position as one of the highest net fossil funding banks - it is the only major player with an increase in absolute intake of fees relative to 2019-20. Turning to intermediate institutions, ING Groep has risen a noteworthy 12 positions since September, driven both by an increase in green fees as well as a decrease in fossil fees.