Fossil lending

Investigations, analyses and rankings on debt lending that facilitates fossil fuel expansion, undermines climate goals and contradicts institutional ESG policies, helping counterparties to engage on climate issues and advocate for change.

JERA: An enhanced SLB proposal for ambitious transition

29/02/2024

"Transition-linked bond" lacks materiality of an enhanced SLB

Factories emitting pollution.

Adani's "Green" new issue

28/02/2024

Adani’s back in the market with a new ‘green’ bond.

The Forensic Carbon Accountant: Snam SpA SLB

26/02/2024

Snam’s recent SLB includes targets for Scope 3 emission reductions. We analyse the completeness of its commitments.

PPC: Coal decommissioning success impacts SLBs

19/02/2024

PPC’s Jan 2024 capital market day revealed strong coal decommissioning, with implications for SLB investors.

ConocoPhillips' Q4 2023 oil sands production breaches investment exclusion thresholds

13/02/2024

ConocoPhillips’ Q4 2023 results show production from Oil Sands of 6.6%, potentially breaching investor exclusion thresholds.

Factories emitting pollution.

Adani’s SLB: Likely to meet its weak targets

06/02/2024

The electricity provider AEML's SLB should be considered in the context of the wider Adani Group strategy on coal.

日本製鉄グリーンボンド:最小限の戦略 (Nippon Steel: Japanese version)

19/01/2024

Transitioning the steel sector is crucial for the climate. We review the impact of Nippon Steel's green bonds.

Nippon Steel green bonds: A bare minimum strategy

09/01/2024

Transitioning the steel sector is crucial for the climate. We review the impact of Nippon Steel's green bonds.

Factories emitting pollution.

The Box: a tool for bank influence

20/12/2023

Dec 2023 update of The Box - a tool for investors to use their counterparty selection process to influence bank behaviour

Asia bank league table of green and fossil bond syndication fees

29/11/2023

Ranking ASEAN and Japanese banks' fee generation from fossil and green bond issuance

Factories emitting pollution.

Net green/fossil bond syndication league table - Sep 23

14/09/2023

In this report, we provide an update on rankings of key banks based on their net green/fossil fee generation from bonds

Port of Newcastle junked as debt wall approaches

08/09/2023

Port of Newcastle's downgrade could prove negative for some of its bonds