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.
Curve construction shows evidence of modest greenium in banks and utilities
Social risks affect the move to renewables, not just away from fossil fuels
Social risks can jeopardise the success of Poland’s transition
Countries’ debt performance varies in the wake of Iran war energy shock
San Miguel Global Power: Refinancing risk exposes liability-driven credit constraints
Utilities remain vulnerable to prolonged oil and gas market stress
Social risks of the energy transition have potential credit implications
Cat bond pricing implies cost of natural disaster protection exceeds realised losses
Sustainable funds with high exposure to oil major bonds underperform
Total long bond investments may not be consistent with net zero
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