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Sustainability

ANZ Sustainable Finance Insights, Q2 2022

Sustainable finance

2022-07-27 02:00

Market update

  • Total global sustainability debt market now exceeds USD4.9 trillion.  However, quarterly issuance of USD370bn in Q2 2022 has continued to fall slightly from Q1 2022 and is 21% below the Q2 2021 all-time high.  Reducing global issuance is a result of widespread economic concerns including rising inflationary pressures, rate volatility, recession risk and geopolitical tensions.  Notwithstanding, Q2 2022 issuance represents the second highest Q2 issuance to date.

  • Sustainable finance issuance is expected to remain flat in 2022.  Moody’s is forecasting bonds in the sustainable finance format to be around USD1 trillion of issuance for the 2022 calendar year.  However, Moody’s emphasised long-term growth potential remains strong as Europe increasingly focuses on renewables for energy security and the publication of two new IPCC reports, provides impetus for greater financing of climate mitigation and adaptation.

  • Increased regulation and taxonomy development will be continued focus areas in 2022.  This increased focus is expected to boost demand for sustainable finance transactions, as issuers seek to highlight their ESG credentials and underlying sustainability strategies.  Further regulatory developments at the national and global level are expected as regional standards become more closely aligned.  The standardisation of reporting will be fundamental for both mandatory and voluntary disclosures. 

  • Bond transactions continue to dominate sustainable finance with Green Bonds remaining the dominant format of issuance.  Despite bond markets slowing down in 1H 2022, Green Bond issuance has increased year on year and represents 44% of all issuances in Q2 2022, making up an average 40% of all issuance over the past four quarters.  Global ESG bond issuance was 20.6% of total bond issuances in Q2, recovering back to the Q4 2021 peak.

  • Sustainability-Linked Loans (SLLs) remain the second largest format by issuance volume.  SLLs have continued to demonstrate their value to corporates this quarter, posting a 23% increase on the previous quarter.  The number of SLLs is expected to continue to grow as more companies set public net-zero targets and look to link their cost of capital to their sustainability strategy.

  • Q2 2022 key figures:
    • USD161bn of Green Bonds, 7% (USD11bn) higher than Q2 2021 at USD150bn, 10% (USD15bn) higher than Q1 2022 at USD146bn
    • USD15bn of Green Loans, 36% (USD8bn) lower than Q2 2021 at USD23bn, 28% (USD6bn) lower than Q1 2022 at USD20bn
    • USD33bn of Sustainability Bonds, 43% (USD25bn) lower than Q2 2021 at USD58bn, 37% (USD20bn) lower than Q1 2022 at USD53bn
    • USD26bn of Social Bonds, 55% (USD32bn) lower than Q2 2021 at USD58bn, 27% (USD10bn) lower than Q1 2022 at USD36bn
    • USD22bn of Sustainability-Linked Bonds (SLBs), 35% (USD12bn) lower than Q2 2021 at USD34bn, 29% (USD9bn) lower than Q1 2022 at USD31bn
    • USD112bn of Sustainability-Linked Loans (SLLs), 24% (USD34bn) lower than Q2 2021 at USD146bn, 23% (USD21bn) higher than Q1 2022 at USD91bn

Global Sustainable Debt Market by Year and Product

{CFinfographic: global-sustainable-debt-market-by-year-and-product-2022-06.png} 

Source: Bloomberg, June 2022
 

Quarterly Sustainable Finance Issuance

{CFinfographic: quarterly-sustainable-finance-issuance-2022-06.png} 

Source: Bloomberg, June 2022
 

Notable transactions

  • ANZ and Silver Fern Farms partnered to establish one of New Zealand’s largest syndicated Sustainability-Linked capital working facilities.  The NZD320m facility is the first syndicated Sustainability-Linked funding transaction for a meat processing company in New Zealand.  The facility is linked to Silver Fern Farms achieving ambitious sustainability performance targets, including working towards a 42% reduction in scope 1 and 2 greenhouse gas emissions by 2030 and the adoption of the comprehensive New Zealand Farm Assurance Programme Plus (NZFAP+) by Silver Fern Farms’ suppliers.  ANZ acted as Sole Mandated Lead Arranger and Bookrunner and Joint Sustainability Coordinator on this deal.

  • Oceania Healthcare completes a successful 5-year NZD500m Sustainability-Linked Loan. The syndicated facility supports Oceania’s commitment to sustainable growth with over two-thirds of Oceania’s debt funding now tied to ambitious environmental and social sustainability goals and targets.  The targets aim to reduce greenhouse gas emissions, increase diversion of construction waste from landfill and improve resident experience and wellbeing.  Resident experience is core to both Oceania’s business strategy and the people pillar of its sustainability framework.  This social KPI focuses on Oceania’s model of care excellence which provides people-centred care, resident engagement, and includes the resident’s own expression of their health and wellbeing.  ANZ acted as Sole Sustainability Coordinator, Sole Arranger and Underwriter.

  • Monash University executed an innovative AUD105m Sustainability-Linked Loan with ANZ that showcases the University’s commitment to driving sustainable change and empowering its community to contribute positively to sustainable development.  Targets for the facility include a reduction in scope 1 and 2 emissions of 72% during the term of the loan, a reduction in general, and construction and demolition, waste going to landfill.  The deal also seeks to increase the number of students and staff who take part in Monash’s First Nations Culture Awareness training and increase the number of students who complete the Global Immersion Guarantee program.  ANZ acted as Sole Sustainability Coordinator and Joint Lender.

  • The National Broadband Network (NBN) made a record-breaking return to the A$MTN market, issuing an AUD800m 5-year inaugural Green Bond which is the largest AUD Green Bond issued by an Australian corporate.  This transaction builds on NBN’s sustainability credentials and roadmap under which it aims to reduce annual energy usage by 25GWh by December 2025, purchase 100% renewable electricity from December 2025, and use electric or hybrid vehicles where available by 2030.  ANZ was pleased to act as Joint Sustainability Coordinator and Joint Lead Manager.

  • Birla Carbon has successfully concluded its first Green Loan under its Green Finance Framework.  The USD50m Green Loan follows the successful close of its USD750m Sustainability-Linked Loan in December 2021.  Birla Carbon is a global leader in the carbon black industry and provides innovative sustainable carbon black solutions.  Carbon black is mainly used to strengthen rubber in tyres, but can also be used in a variety of rubber, plastic, ink and coating applications.  The loan refinances capital expenditure used to install the absorber technology at the North Bend plant which removes emission compounds from the air.  ANZ acted as Lead Green Loan Coordinator and Mandated Lead Arranger on the USD50m loan.

  • Sembcorp Industries secured a SGD1.2bn Sustainability-Linked Revolving Credit Facility, the first syndicated Sustainability-Linked facility for a Southeast Asian energy firm linked to the Singapore Overnight Rate Average (SORA). The interest rate of this facility will be subject to a step-up margin if the set targets to reduce its greenhouse gas emissions intensity to 0.4 tonnes of CO2 equivalent per MWh (tCO2e/MWh) or lower and reach 10GW total installed renewable energy capacity are not achieved by 31 December 2025. ANZ acted as the Lead Sustainability Coordinator, Mandated Lead Arranger and Bookrunner.

  • Chinese agrochemicals company Syngenta completed the biggest ever Sustainability-Linked Loan in the Asia Pacific RegionThe record breaking 3-year USD4.5bn syndicated Sustainability-Linked Loan facility is the inaugural Sustainability-Linked transaction from Syngenta and ties its margin to sustainability performance targets.  These targets are closely linked to Syngenta’s Good Growth Plan which sets out its global commitments to accelerate the innovation to provide solutions for farmers and investment in sustainable agriculture breakthroughs. ANZ acted as Mandated Lead Arranger and Lender.

  • Singapore telecommunications firm Singtel has issued a 5-year USD100m tokenised Sustainability-Linked Bond (SLB) on the ADDX digital securities exchange.  The USD100m issuance is Singapore’s largest foreign currency digital bond. The Singtel group has committed to reducing its absolute greenhouse gas emissions (Scope 1 and 2 in tCO2e) by 2025, compared to a 2015 baseline.  If the stated target is not met, the Singtel group will, by the maturity date of the SLB, make additional investments into defined green efforts of an amount equal to not less than 0.25% of the outstanding aggregate principal amount of the SLB.

  • Hong Kong successfully completed its inaugural Retail Green Bond with HKD32.88bn (USD4.2bn) in orders, which is believed to be the world’s biggest retail Green Bond.  The 3-year bond offers a coupon of 2.5% p.a. on a minimum investment of HKD10,000 and was 1.2 times oversubscribed.

  • The Singapore Government published the Singapore Green Bond Framework for the upcoming Inaugural Singapore Sovereign Green Bond Issuance.

  • Austria issued its first benchmark-size Green Bond with a EUR4bn issuance this quarter, after releasing its Green Bond Framework in April. Austria also plans to issue EUR1bn of Green bills later in 2022, with maturities likely to be 3 months and longer.  The Austrian Treasury states that the country could be the first issuer of Green short-term securities globally.

  • France issued the first ever inflation-linked sovereign Green Bond.  The EUR4bn offering marks a continuation of France’s position as a pioneer in the sovereign Sustainable Finance market as it was also the first country to issue a sovereign benchmark Green Bond, with its inaugural EUR7bn issuance in 2017.
     

Broader developments

Emerging themes over the quarter

Global

  • In June, the Taskforce on Nature-related Financial Disclosures (TNFD) released version 2.0 of its beta framework for nature-related risk and opportunity management and disclosure.  This release builds on the first iteration released in March this year and features TNFD’s approach to metrics and additional guidance for market participants to start pilot testing.  Ongoing market feedback will support further design and development of the TNFD recommendations due in September 2023.

  • The latest IPCC report on mitigation of Climate Change again highlights that greenhouse gas emissions must peak by 2025 and nearly half this decade to limit global warming to 1.5°C above pre-industrial levels.  The report provides an updated global assessment of climate change mitigation progress, pledges and an examination of global emission sources.  It discusses developments in mitigation and emission reduction activities and analyses the impact of national climate commitments on long-term emission reduction targets.

  • ANZ joined the Orange Bond Initiative™ as a Steering Committee member alongside U.S. International Development Finance Corporation (DFC), Australian Department of Foreign Affairs and Trade (DFAT), United Nations Capital Development Fund (UNCDF), Water.org, Shearman & Sterling and Nuveen. This industry initiative, facilitated by Impact Investment Exchange, aims to mobilise capital towards gender-lens investing through Orange Bonds. Orange Bonds relate to a sub-segment of social bonds related to gender (orange is the colour of SDG 5 – Gender Equality).

Asia Pacific

  • In an election dominated by climate change issues, the newly elected Albanese Australian Government intends to take stronger action on climate change. This includes plans to invest $20 billion to accelerate the decarbonisation of Australia’s electricity grid, further funding and support for renewables and implementation of new standardised and internationally-aligned reporting requirements for climate risks and opportunities for large businesses.

  • Climate Council analysis finds 1 in 25 Australian properties will be uninsurable by 2030 due to rising risks of extreme weather and climate change.  The Climate Council has launched a cutting edge digital Climate Risk Map where Australians can plug in their suburb, local government area or electorate to discover the risk of fires, floods and extreme wind, based on low, medium and high emissions scenarios.

  • The NZ SeaRise: Te Tai Pari O Aotearoa programme released new data showing the sea level is rising twice as fast as previously thought in some parts of Aotearoa New Zealand due in part to differing rates of land subsidence.  For example, in just 18 years, parts of Wellington will see 30cm of sea level rise, causing once-in-a-century flood damage every year. Insurance companies in New Zealand are also raising warnings about severe climate related weather events.

  • The NZ Government launched its first Emissions Reduction Plan (ERP), which is a requirement of the Climate Change Response (Zero Carbon) Amendment Act 2019 and outlines New Zealand’s plan to reduce emissions in line with the Government’s international commitments.  The plan walks the tightrope of realigning the economy on an emissions reduction pathway while not increasing costs to households or businesses and not taking on new Government debt. It does this by mostly using the carrot not the stick approach in incentivising action, using subsidies to achieve change in many areas including EV ownership, electrification of industry and agricultural emissions reduction.

  • Indonesia G20 Presidency 2020 addresses the G20 Sustainable Finance Roadmap, policies and a social impact mitigation plan for a just and affordable climate transition at the Sustainable Finance for Climate Transition Roundtable.  The Roundtable complements the discussions held under the Sustainable Finance Working Group (SFWG) during the G20 presidency of Indonesia.

  • Japan’s Prime Minister Fumio Kishida outlined plans to issue 20 trillion yen (USD157 billion) in new green transition bonds, as part of a major investment push to achieve the country’s decarbonisation and clean energy transition goals.  Recent Government estimates indicate more than 150 trillion yen of public and private investment will be needed over the next decade in order to reach the country’s decarbonisation goals.  Japan has committed to reach net zero emissions by 2050, with an interim goal to reduce greenhouse gas emissions by 46% by 2030. 

Europe

  • There has been a number of key developments in the EU including:

    • The European Parliament voted against a resolution aimed at excluding nuclear and fossil gas from the EU Taxonomy, paving the way for their incorporation in the classification system for environmentally sustainable activities.  The attempt to exclude nuclear and gas from the Taxonomy was defeated by a vote of 328 against 278.  Many parties have raised concerns at the outcome, with the CEO of the European Climate Foundation and a key architect of the Paris Agreement warning “the EU Taxonomy now falls short of its own initial goal, which was to prevent greenwashing in the financial system.  Investors, companies and consumers will now be looking elsewhere for the science-based clarity and credibility they need.”  On the other hand, the chair of the EU Platform on Sustainable Finance said “the Taxonomy offers investors a shopping list for a sustainable future, but that doesn’t mean that investors need to buy everything it offers”.

    • The EU Parliament has passed tougher amendments to the EU Green Bond Standard (EuGBs).  The amendments include enhancing disclosure rules for the universe of ‘sustainable’ bonds (including Green and Sustainability-Linked Bonds) even if they are not labelled as an EU Green Bond.  The standard will boost entry-level requirements and supervision rules and will require all issuers of EuGBs to have verified transition plans in place. The amendments will also require greater transparency when gas and nuclear projects are included in use-of-proceeds instruments, including a prominent first page label highlighting their inclusion.

    • The EU Innovation Fund announced investments of more than EUR1.8 trillion in 17 large-scale clean tech projects, which together have the potential to save 136 million tonnes of CO2eq over their first 10 years of operation.  Grants will be disbursed from the Innovation Fund to help bring breakthrough technologies to the market in energy-intensive industries, hydrogen, renewable energy, carbon capture and storage infrastructure, and manufacturing of key components for energy storage and renewables.

    •  As part of the European Green Deal, and the July 2021 European Climate Law, the EU has set itself a binding target of achieving climate neutrality by 2050. This requires current greenhouse gas emission levels to drop substantially in the coming decades.  As an intermediate step towards climate neutrality, the EU has raised its 2030 climate ambition, committing to cutting emissions by at least 55% by 2030 compared to 1990 levels.  To do so, the EU has been working on the revision of its climate, energy and transport-related legislation under the 'Fit for 55 package' in order to align current laws with the 2030 and 2050 ambitions.

    • The ‘Fit for 55’ package includes:

      • ambitious targets for greener aviation fuels: The EU Parliament voted to increase the minimum share of a Sustainable Aviation Fuel (SAF) made available at EU airports (taking into account the potential of electricity and hydrogen in the overall fuel mix). From 2025, at least 2% of airport fuel will need to be SAF, increasing to 37% in 2040 and to 85% by 2050.  Certain food crop-based fuels, including those derived from palm oil and soy have been excluded from the definition of SAF because they do not align with the proposed sustainability criteria.  The EU Parliament plans to create a Sustainable Aviation Fund from 2023 to 2050 to accelerate the decarbonisation of the aviation sector and support investment in SAF, innovative aircraft propulsion technologies, and research for new engines.

      • changes to the EU emissions trading scheme (EU ETS): The EU Council made a number of changes to the EU ETS, including a one-off reduction of the overall emissions ceiling by 117 million allowances and an increase in the annual reduction rate of the cap by 4.2% per annum.  The Council also endorsed a proposal to progressively end free allowances under the Carbon Border Adjustment Mechanism over a 10-year period between 2026 and 2035.
  • At the German-hosted G7 summit in June, global leaders announced plans to establish a “Climate Club” by the end of 2022.  The G7 summit leaders issued a statement highlighting key focus areas for the Climate Club which include setting ambitious climate mitigation policies, coordinating efforts to help transform industries to accelerate decarbonisation and boosting international climate action through partnerships.  This includes the promotion of a just energy transition with initiatives to support developing countries in the decarbonisation of their energy and industrial sectors.  According to the statement, the new initiative will help address the risk of carbon leakage for emission intensive goods.  The G7 Leaders’ Communiqué also discussed a series of climate-focused commitments, including achieving a “highly decarbonised road sector by 2030,” and “a fully or predominately decarbonised power sector by 2035”.

Updates in the regulatory and legal environment

  • ASIC has released guidance for investment and superannuation funds making ESG claims in its new Information Sheet “How to avoid greenwashing when offering or promoting sustainability-related products”.  One of ASIC’s current corporate governance priorities is to monitor the market and look for misleading claims about ESG and sustainability.  Coupled with the rise in greenwashing claims from environmental NGOs and class action plaintiffs, it is critical that funds and financial product promoters understand how to best comply with their regulatory obligations when responding to market demand for sustainability-related products.

  • The IFRS Foundation’s International Sustainability Standards Board (ISSB) has outlined the necessary steps required to establish a comprehensive global baseline of sustainability disclosures.  This baseline presents a unique opportunity to prevent any further fragmentation of current sustainability disclosure requirements.  Widespread use of the baseline will reduce the costs for data preparers and improve information usability for data users.  The ISSB aims to complete necessary institutional and technical-standard setting work, to create the global baseline’s core elements, by the end of 2022.  IFRS Foundation and Value Reporting Foundation (VRF) have voted to approve the consolidation of the VRF into the IFRS Foundation, effective 1 July 2022.

  • Australia strengthens its climate commitments as the new Albanese Government submitted its new target to the UNFCCC to reduce greenhouse gas emissions by 43% from 2005 levels by 2030 and to reach net zero by 2050.  The Government plans to legislate these targets, which represent a 15% improvement on Australia’s previous 2030 target.

  • The Western Australian State Government commits to an 80% reduction in emissions below 2020 levels by 2030.  This target will apply to emissions from all Government agencies in WA, including transport, health and education, and emissions generated by Government trading enterprises.  An estimated AUD3.8 billion will be invested in new green power infrastructure, building on the recent announcement that State-owned company Synergy will exit coal-fired power generation by 2030.  The State Government has also committed to not build any new natural gas-fired power stations after 2030.

  • The SEC proposes to enhance disclosures by certain investment advisors and investment companies about ESG investment practices to promote consistent, comparable, and reliable information.  Additionally, since the US SEC policy changes last year, more environmental and social related proposals are getting onto ballots.  The agency said it would start factoring in broader social policy considerations when evaluating requests from companies to cast aside proxy proposals that they see as micromanagement or interfering with regular business operations.  More than 566 environmental or social related shareholder resolutions have been filed this proxy season, a 13% increase from 2021.  Companies are facing stronger shareholder demands on employee wellness, greenhouse gas reductions, corporate lobbying, human rights and anti-competitive behaviour, among other matters.  Unfortunately, the US Supreme Court ruling has limited the Environmental Protection Agency’s regulatory authority to reduce greenhouse-gas emissions, dealing a massive blow to US President Biden’s climate agenda.  This could set a precedent for other US agencies trying to tackle important societal issues.

  • The U.S. Customs and Border Protection has started to implement the Uyghur Forced Labour Prevention Act’s provisions to prohibit imports into the United States of products made by forced labour in Xinjiang from June 21, 2022.  President Biden signed the Act into law in December 2021, after it passed with overwhelming bipartisan support in the United States Congress, underscoring their commitment to combating forced labour everywhere, including in Xinjiang.

  • The Indian Madras State High Court has recently ruled that Mother Nature has the same legal status as a human being, which includes “all corresponding rights, duties and liabilities of a living person”.  The decision from the Court also said that the natural environment is part of the human right to life and that humans have an environmental duty to future generations.  This case is just one in a series of ‘rights of nature’ rulings that give ecosystems, animals, and the natural world rights similar to those of humans, corporates and trusts.  Countries including Ecuador, Bolivia, Panama and New Zealand have enacted variations of right of nature laws, as have more than 30 communities and local governments within the United States.

  • The Government of India has announced the implementation of a ban on single use plastic items in an aim to address the pollution caused by unmanaged plastic waste.  Nineteen single use plastic items, such as cups, straws, cutlery and packaging films, can no longer be produced, imported, stocked, distributed or sold in India as part of the first phase of a longer national plan.  According to Government estimates, India generates approximately 3.5 million tonnes of plastic waste annually and per capita plastic waste generation has almost doubled over the last five years.

  • As part of its recent Carbon Budget the UK has committed to legislate a 78% emissions reduction by 2035 compared to 1990 levels.  This is a more ambitious revision of its previous commitment of 68% by 2035 and will bring the UK more than three-quarters of the way to net zero by 2050.  The UK’s sixth Carbon Budget will incorporate the UK’s share of international aviation and shipping emissions for the first time.

  • Germany’s Federal Council has legislated the country’s target of 80% renewables in power consumption by 2030.  This was the largest energy policy amendment in decades, passing a series of laws approving major increases in renewable energy development over the next several years.  This legislation forms part of the new German Government’s clean energy strategy, which aims to boost the country’s efforts to address climate change, accelerate Germany’s phase-out of coal by several years and transition to an economy powered largely by renewable energy, to reach its 2045 climate neutrality target.

Product guidelines

  • The International Capital Markets Association (ICMA) released new and updated publications and resources at the end of June 2022 to support market transparency and development. Some of these changes, include:

    • New definitions for green securitisation (Secured Green Collateral Bonds and Secured Green Standard Bonds) clarifying terminology and market practice, notably for collateral.  This includes a Q&A on sustainability criteria relating to collateral, no double counting principles, and reporting requirements.  Similar guidance has also been made available for social bond securitisation.

    • An updated registry of approximately 300 key performance indicators (KPIs) for Sustainability-Linked Bonds, the fastest-growing segment of the sustainable bond market.  The KPIs are classified by sector and between core and secondary indicators following the input of over 90 leading market participants and stakeholders.  An accompanying Q&A also addresses, among other issues, the materiality assessment of KPIs, which has been a topic of debate among market participants and stakeholders.

    • A new Climate Transition Finance (CTF) Methodologies registry has been created with a list of tools to specifically help issuers, investors, or financial intermediaries validate their emission reduction trajectories or pathways as "science-based".  Similarly, the Guidelines for External Reviews have been updated to facilitate the assessment of alignment with the existing Climate Transition Finance Handbook (CTFH).

    • New metrics for impact reporting across (1) Green Projects relating to environmentally sustainable management of living natural resources and land use, and (2) for Social Projects (including an enriched list of social indicators and impact confirmation on target population).

    • Updated high-level mapping to the United Nations’ Sustainable Development Goals (SDGs).

    • A recommendations paper and proposed information template for providers of Green, Social and Sustainability Bond index services.

    • A Pre-issuance Checklist for Green Bonds/Green Bond Programmes and an updated Sustainable Bond/Bond Programme Information Template (including disclosure of the issuer’s sustainability strategy).

ANZ updates this quarter

  • ANZ and FinanceAsia published the results of the 5th Annual Sustainable Financing Poll which finds investors and issuers across APAC are bracing for a record year of sustainable debt issuance, with even more growth to come.  The survey finds higher levels of comfort and understanding in terms of the regulatory environment, greater uniformity and familiarity with market standards and a desire from issuers to meet investor demand and diversify their investor base.  Key discussion points at the FinanceAsia-ANZ Roundtable were that harmonisation of standards and principles is important to both issuers and investors, and that as sophistication among investors is growing they want to know that a green and sustainable finance instrument is backed up by a fulsome sustainability strategy.

  • ANZ New Zealand launched the ANZ Good Energy Home Loan, a new low-interest solution for Kiwis looking to become more energy efficient.  For a 3-year fixed rate of 1% p.a., ANZ home loan customers can now top-up their home loan by up to NZD80,000 to cover the cost of supply and installation of sustainable solutions including solar panels and batteries, electric vehicles and chargers, heat pumps, insulation, double glazing and rainwater tanks.

  • ANZ announced an agreement to acquire Suncorp Bank from Suncorp Group Limited, accelerating the growth of our retail and commercial business while also improving the geographic balance of our business in Australia.  As part of the acquisition, ANZ committed to allocating AUD15 billion of new lending, part of our existing renewable lending commitments, to support Queensland renewable projects and green Olympic Games infrastructure as well as AUD10 billion of new lending for energy projects, particularly those targeting bioenergy and hydrogen over the next decade.

  • ANZ Group Treasury published the latest annual Use of Proceeds Report for the ANZ SDG Bond program.

  • We congratulate Stella Saris Chow, ANZ’s Head of Sustainable Finance, International, on her appointment as Co-Chair of APLMA’s Green and Sustainable Loan Committee with Yasmine Djeddai of Société Générale.

The ANZ Sustainable Finance Portfolio team welcomes Nikita Dhanraj who joins us as a Manager in Sydney from the Australian Financial Markets Association and Aidha Ahamat who joins us as a Senior Manager in Melbourne from ANZ’s Client Insights team.  We also welcome Nancy Wang back to Australian shores as she joins our Portfolio team as a Director in Sydney from ANZ’s Hong Kong Sustainable Finance team.  Jenny Fan was appointed Director, Sustainable Finance in Hong Kong in March 2022 joining from the ANZ Debt Capital Markets team where she was co-head of North Asia.

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ANZ Sustainable Finance Insights, Q2 2022
ANZ experts
Sustainable finance
2022-07-27
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ANZ contacts

ANZ has a global Sustainable Finance Team with presence in Sydney, Melbourne, Perth, Singapore, Hong Kong, London, Auckland and Wellington.

Feedback and enquiries can be directed to sustainablefinance@anz.com.

 

Australia 

Katharine Tapley

Head of Sustainable Finance
T: +61 2 8937 6092
E: Katharine.Tapley@anz.com
Based in Sydney

Emily Tonkin

Executive Director, Sustainable Finance
T: +61 2 8937 8454
E: Emily.Tonkin@anz.com
Based in Sydney

Bronwyn Corbet

Executive Director, Sustainable Finance
T: +61 419 415 343
E: Bronwyn.Corbet@anz.com
Based in Melbourne

Jonathan Bloch

Executive Director, Sustainable Finance
T: +61 8 6298 3169
E: Jonathan.Bloch@anz.com
Based in Perth

Tessa Dann

Director, Sustainable Finance
T: +61 2 8037 0602
E: Tessa.Dann@anz.com
Based in Sydney

Tania Smith

Director, Sustainable Finance
T: +61 3 8655 1655
E: Tania.Smith@anz.com
Based in Melbournne

Katie Wood

Associate Director, Sustainable Finance 
T: +61 4 5994 9710
E: Katie.Wood@anz.com
Based in Melbourne

Kate Cheeseman

Senior Manager, Sustainable Finance
T: +61 2 8937 6590
E: Kate.Cheeseman@anz.com
Based in Sydney

Aidha Ahamat

Senior Manager, Sustainable Finance
T: +61 4 3465 1473
E: Aidha.Ahamat@anz.com
Based in Melbourne

Ivan Ng

Senior Manager, Sustainable Finance
T: +61 4 8146 1415
E: Ivan.Ng@anz.com
Based in Melbourne

Jessica Liu

Manager, Sustainable Finance
T: +61 4 3492 4546
E: Jessica.Liu@anz.com
Based in Sydney

Sarah Foley

Analyst, Sustainable Finance
T: +61 4 8106 1079
E: Sarah.Foley@anz.com
Based in Melbourne

New Zealand

Dean Spicer

Head of Sustainable Finance, New Zealand
T: +64 4 381 9884
E: Dean.Spicer@anz.com
Based in Wellington

Kate Gunthorp

Director, Sustainable Finance
T: +64 21 655 986
E: Kate.Gunthorp@anz.com
Based in Auckland

Caroline Poujol

Director, Sustainable Finance
T: +64 21 619 532
E: Caroline.Poujol@anz.com
Based in Auckland

Monique Wilson

Manager, Sustainable Finance
T: +64 9 252 6354
E: Monique.Wilson@anz.com
Based in Auckland

Poppy Brinsley

Manager, Sustainable Finance
T: +64 2 7844 7095
E: Poppy.Brinsley@anz.com
Based in Auckland

International

Stella Saris Chow

Head of Sustainable Finance, International
T: +65 6708 2896
E: Stella.Saris@anz.com
Based in Singapore

Stephanie Vallance

Director, Sustainable Finance
T: +65 6708 2839
E: Stephanie.Vallance@anz.com
Based in Singapore

Mara Chiorean

Director, Sustainable Finance
T: +65 8328 1532
E: Mara.Chiorean@anz.com
Based in Singapore

Jenny Fan

Director, Sustainable Finance
T: +852 6030 7985
E: jenny.fan2@anz.com
Based in Hong Kong

Kaitlin Edwards

Senior Manager, Sustainable Finance
T: +44 2032 292601
E: Kaitlin.Edwards@anz.com
Based in London

Prash Odhavji

Senior Manager, Sustainable Finance
T: +852 3917 7307
E: Prash.Odhavji@anz.com
Based in Hong Kong

Shaina Tan

Manager, Sustainable Finance
T: +65 9117 9694
E: Shaina.Tan@anz.com
Based in Singapore

Portfolio and Analytics

Jo White

Head of Portfolio, Sustainable Finance Portfolio & Analytics
T: +61 2 8937 6062
E: Jo.White@anz.com
Based in Sydney

Nancy Wang

Director, Sustainable Finance Portfolio & Analytics
T: +61 4 0231 2525
E: Nancy.Wang3@anz.com
Based in Sydney

Nikita Dhanraj

Manager, Sustainable Finance Portfolio & Analytics
T: +61 4 0379 1858
E: Nikita.Dhanraj@anz.com
Based in Sydney

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