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Sustainability Bonds
Sustainability Bonds are fixed-income financial instruments ( bonds) where the proceeds will be exclusively used to finance or re-finance a combination of Green and Social Projects and which are aligned with the four core components of the International Capital Market Association (ICMA) Green Bonds Principles and Social Bonds principles. The main difference among green, social and sustainability bonds, lies in their sustainable categories for the allocation of proceeds, sustainability bonds needing to combine both social and green categories. The principles (ICMA) ICMA principles are currently the most commonly accepted framework for green, social and sustainability bonds’ issuance. They are coordinated by ICMA, which provides not only administrative support but also guidance for their governance process. The four core components of the principles are: # Use of proceeds: Identify the set of green and social sustainable categories or list of projects and assets to be financed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Capital Market Association
The International Capital Market Association or ICMA is a self-regulatory organization and trade association for participants in the capital markets. ICMA stated aims are to promote high standards of market practice, appropriate regulation, trade support, education and communication. It produces standard documentation for transactions such as equity and debt issuance and repos. ICMA market conventions and standards have been the pillars of the international debt market for almost 40 years, providing the self-regulatory framework of rules governing market practice which have facilitated the orderly functioning and impressive growth of the market. History The International Capital Market Association was formed in July 2005 from the merger of ''International Primary Market Association'' and the '' International Securities Market Association'' (formerly the ''Association of International Bond Dealers'') to create an association that covered both primary and secondary internationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Climate Bond
Green bonds (also known as climate bonds) are fixed-income financial instruments ( bonds) which are used to fund projects that have positive environmental and/or climate benefits. They follow the Green Bond Principles stated by the International Capital Market Association (ICMA), and the proceeds from the issuance of which are to be used for the pre-specified types of project They differ from Sustainability Bonds in that the latter also needs to have a positive social outcome, besides simply having a positive impact on the environment. History Climate bonds are a relatively new asset class, but they are growing rapidly.Yves Hulmann"2016, l'année de l'essor des obligations vertes", ''Le temps'', 20 December 2016 (page visited on 20 December 2016). The total volume of climate bonds was estimated at 160 billions of dollars on 2016; of which 70 billions were issued in 2016. The labelled volume of bonds issued in 2019 was US$255 billion. Climate and green bonds have now been issu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Bond
Social organisms, including human(s), live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary or not. Etymology The word "social" derives from the Latin word ''socii'' ("allies"). It is particularly derived from the Italian ''Socii'' states, historical allies of the Roman Republic (although they rebelled against Rome in the Social War of 91–87 BC). Social theorists In the view of Karl MarxMorrison, Ken. ''Marx, Durkheim, Weber. Formations of modern social thought'', human beings are intrinsically, necessarily and by definition social beings who, beyond being "gregarious creatures", cannot survive and meet their needs other than through social co-operation and association. Their social characteristics are therefore to a large extent an objectively given fact, stamped on them from birth and affirmed by socialization processes; and, according to Marx, in producing and reproducin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASEAN
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a Political union, political and economic union of 10 member Sovereign state, states in Southeast Asia, which promotes intergovernmental organization, intergovernmental cooperation and facilitates economy, economic, Politics, political, security, Military alliance, military, educational, and Sociocultural system, sociocultural integration between its members and countries in the Asia-Pacific. The union has a total area of and an estimated total population of about 668million. ASEAN's primary objective was to accelerate economic growth and through that social progress and cultural development. A secondary objective was to promote regional peace and stability based on the rule of law and the principles of the Charter of the United Nations, UN Charter. With some of the fastest growing economies in the world, ASEAN has broadened its objective beyond the economic and social spheres. In 2003, ASEAN moved along th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greenwashing
Greenwashing (a compound word modeled on " whitewash"), also called "green sheen", is a form of advertising or marketing spin in which green PR and green marketing are deceptively used to persuade the public that an organization's products, aims and policies are environmentally friendly. Companies that intentionally take up greenwashing communication strategies often do so in order to distance themselves from the environmental lapses of themselves or their suppliers. An example of greenwashing is when an organization spends significantly more resources on advertising being "green" than on environmentally sound practices. Greenwashing can range from changing the name or label of a product to evoke the natural environment (for example on a product containing harmful chemicals) to multimillion-dollar campaigns that portray highly-polluting energy companies as eco-friendly. Greenwashing covers up unsustainable corporate agendas and policies. Highly public accusations of greenwashi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainability-linked Bond
A Sustainability-linked bond (SLB) is a fixed income instrument (Bond) where its financial and/or structural characteristics are tied to predefined Sustainability/ ESG objectives. The objectives are measured through predefined Key Performance Indicators (KPIs) and evaluated against predefined Sustainability Performance Targets (SPTs). The proceeds of SLBs are intended for general purposes, and the use of proceeds is not determinative in their categorization. Bonds where the proceeds are used to finance or re-finance green projects, social projects or a combination of both are called Green, social and Sustainability bonds respectively, and should not be confused with SLBs. Sustainability-Linked Bond Principles The Sustainability-Linked Bond Principles are voluntary process guidelines that provide best practices and recommendations for financial instruments to incorporate forward-looking sustainability performance. They are expected to play a key role in the development of the Sus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Finance
Environmental finance is a field within finance that employs market-based environmental policy instruments to improve the ecological impact of investment strategies. The primary objective of environmental finance is to regress the negative impacts of climate change through pricing and trading schemes. The field of environmental finance was established in response to the poor management of economic crises by government bodies globally. Environmental finance aims to reallocate a businesses resources to improve the sustainability of investments whilst also retaining profit margins. History In 1992, Richard L. Sandor proposed a new course outlining emission markets at the University of Chicago Booth School of Business, that would later be known as the course, ''Environmental Finance''. Sandor anticipated a social shift in perspectives on the effects of global warming and wanted to be on the frontier of new research. Prior to this in 1990, Sandor had been involved with the passing o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainability-linked Bond
A Sustainability-linked bond (SLB) is a fixed income instrument (Bond) where its financial and/or structural characteristics are tied to predefined Sustainability/ ESG objectives. The objectives are measured through predefined Key Performance Indicators (KPIs) and evaluated against predefined Sustainability Performance Targets (SPTs). The proceeds of SLBs are intended for general purposes, and the use of proceeds is not determinative in their categorization. Bonds where the proceeds are used to finance or re-finance green projects, social projects or a combination of both are called Green, social and Sustainability bonds respectively, and should not be confused with SLBs. Sustainability-Linked Bond Principles The Sustainability-Linked Bond Principles are voluntary process guidelines that provide best practices and recommendations for financial instruments to incorporate forward-looking sustainability performance. They are expected to play a key role in the development of the Sus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts Bay Transportation Authority
The Massachusetts Bay Transportation Authority (abbreviated MBTA and known colloquially as "the T") is the public agency responsible for operating most public transportation services in Greater Boston, Massachusetts. The MBTA transit network includes the MBTA subway with three metro lines (the Blue, Orange, and Red lines), two light rail lines (the Green and Ashmont–Mattapan lines), and a five-line bus rapid transit system (the Silver Line); MBTA bus local and express service; the twelve-line MBTA Commuter Rail system, and several ferry routes. In , the system had a ridership of , or about per weekday as of , of which the rapid transit lines averaged and the light rail lines , making it the fourth-busiest rapid transit system and the third-busiest light rail system in the United States. As of , average weekday ridership of the commuter rail system was , making it the sixth-busiest commuter rail system in the U.S. The MBTA is the successor of several previous pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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