Climate risk pricing

Climate risk is often mispriced. We review unpriced externalities and undertake live market analyses to enable portfolio risk managers to understand the potential impact of climate on credit pricing.

Buyers of long-dated oil bonds beware

07/05/2024

Longer tenor of oil & gas bonds poses risks not accounted for in spread curves

bp and ConocoPhillips: a bond spread curve ball

26/03/2024

Transition risk exposure differences not priced in credit spreads

Auto manufacturers: Climate performance and the cost of capital

15/12/2023

The automotive sector is a leading candidate for a meaningful green transition

Sustainability-Linked Bonds bumper week

11/09/2023

The first five business days of September were very busy for SLB issuance, with eleven bonds pricing

ConocoPhillips crossing oil sands exclusion thresholds

16/08/2023

ConocoPhillips debt issuance finances a full acquisition of the Surmont oil facility

APAC coal divestments: debt investors hold the key

06/06/2023

In this piece, we look at the need to engage on multiple fronts to support a credible transition for the APAC region.

Arctic oil & gas: left out in the cold

26/04/2023

In this report, we consider the implications of changes to the exclusion criteria of a range of ‘ESG screened’ indexes.

Oil & Gas: climate performance and the cost of capital

06/03/2023

Climate performance seems to be a partial driver for funding spreads.

Big oil, small short

13/02/2023

We highlight the differential between Exxon Mobil equity dividend yield and two-year bonds.

Environmental gilt

03/10/2022

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

Auto bonds: Any colour so long as it is green

17/08/2022

Transitioning the auto manufacturing sector is essential to tackling climate change.

Ace of Basis: Green cash-CDS basis to drive transition

01/08/2022

In this report, we show how green negative basis packages are a strategy to drive relative funding costs for green bonds tighter.