More accessible data in ESG bonds
New Guidelines for Impact Database providers aim to increase transparency and promote best practice. KBN and NIB have jointly coordinated the work.
On 10 June, the Guidelines for Green, Social, Sustainability and Sustainability-Linked Bonds’ Impact Reporting Databases were published during Green Bond Principle’s 2021 annual meeting. This is a new addition to the family of documents seeking to guide and coordinate the market for sustainable finance. Green Bond Principles was developed by the International Capital Market Association (ICMA).
- The goal of these new guidelines is to improve the flow and quality of data for the benefit of green, social, sustainability or sustainability-linked bond issuers and investors, Database providers and other stakeholders, says Climate and Green Finance Adviser in KBN, Miriam Anderssen. She has been coordinating this work on behalf of KBN, in a successful collaboration with Angela Brusas and Lena Korkea-Aho in The Nordic Investment Bank, NIB.
KBN and NIB has jointly coordinated this work but has received valuable contributions from a technical working group consisting of Nordea, SEB, Zurich, PIMCO and Blackrock. Thus, both the issuer, investor and bank/underwriter side has been represented. A reference group of database providers have also been consulted.
The Guidelines is also accompanied by a mapping exercise. Together with the guideline itself, the Impact Reporting Database Service Mapping Template is also published, which is an excel form where Database providers are invited to voluntarily provide information about the different services they provide.
A full list of contributing Database providers as well as of those voluntarily aligning with these Guidelines can soon be found on the sustainable finance webpages of ICMA’s website and can be freely accessed by anyone seeking information on the range of services offered. The results of this mapping exercise have also been used as background information for developing the guideline and making sure it properly addresses the target audience.
This annual meeting on 10 June also marked the conclusion of KBN’s four years in the Green Bond Principles Executive Committee. Chief Capital Markets Officer in KBN, Sigbjørn Birkeland was elected executive committee member of Green Bond Principles (GBP) in 2017.
- KBN has represented a small organisation with a Nordic perspective. That has made us able to give valuable contributions to the fast development of GBP and the whole ecosystem of guidelines and recommendations, says Sigbjørn Birkeland.