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Ever Thought Of A 100-Year Green Bond? French Railway Firm Is Pitching The World’s First

It seems green bonds, sometimes referred to as climate bonds, are becoming ever so popular by the day with issuance tipped to reach record levels in 2019. However a French railway firm has notched industry trend setting way up the charts by launching the world’s first 100-year green bond.

Societe Nationale des Chemins de Fer Réseau (SNCF Réseau), France’s state-owned railway network management firm, which has already raised €2.8 billion ($3.10 billion) in green bonds in 2019 alone, confirmed Friday (August 23) that it has launched its 100-year product.

The near €100 million in book value raised would be used to finance green projects meeting its eligibility criteria for improvement, maintenance and “energy optimization” of railways. Some of the funds would also be allocated to sustainability components of new route and track extensions, the company said.

In total, SNCF Réseau has so far raised €5.4 billion in green bonds, nearly doubling the figure this year. Following the latest investment round in its green bond program, the French company now ranks seventh in the global green bond issuance market.

Green bonds are typically asset-linked and backed by the issuer’s balance sheet, earmarked to be used for climate and environmental projects. According to rating agency Moody’s, issuers brought $66.6 billion of green bonds to market globally the second quarter of 2019, propelling first-half issuance to a record $117 billion up 47% on an annualized basis compared to the first six months of 2018, and compared against the 11% year-over-year growth for the same six month periods of 2017 and 2018.

However, there has been criticism over the criteria for green bonds. On paper such bonds allow firms to raise finance for low carbon and climate-friendly projects thereby offering a promising solution to those looking to go green via climate initiatives.

But there have been instances of companies using the proceeds of green bond issuance to pay of other debts. Some issuers offer green bonds targeting specific projects, but often fail to outline a clear, long-term strategic environmental goal.

For its part, SNCF Réseau’s 100-year bond and previous issuance drives strictly comply with the European Commission’s green bond standard. The French railway network operator now takes over the title of the world’s longest maturing green bond from Energias de Portugal (EDP) and Energie Baden-Wuerttemberg (EnBW) whose bond had a maturity of 60 years.

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I am a UK-based oil & gas sector analyst and business news editor/writer with over 20 years of experience in the financial and trade press. I have worked on all major media platforms – print, newswire, web and broadcast. At various points in my career, I have been an OPEC, Bank of England and UK Office for National Statistics correspondent. Over the years, I have provided wide-ranging oil & gas sector commentary, including pricing, supply scenarios, E&P infrastructure, corporations’ financials and exploration data. I am a lively commentator on ‘crude’ matters for publications and broadcasting outlets including CNBC Europe, BBC Radio, Asian and Middle Eastern networks, via my own website, Forbes and various other publications. My oil market commentary has a partial supply-side bias based on a belief that the risk premium is often given gratuitous, somewhat convenient, prominence by cheeky souls who handle quite a few paper barrels but have probably never been to a tanker terminal or the receiving end of a pipeline. Yet having done both, I pragmatically accept paper barrels [or should we say ‘e-barrels’] are not going anywhere, anytime soon!

Source: Ever Thought Of A 100-Year Green Bond? French Railway Firm Is Pitching The World’s First

10 years ago, the World Bank Treasury issued the first green bond then laid out the first blueprint for sustainable fixed income investing, transforming development finance and sparking a sustainability revolution in the capital markets. Learn about the revolution.

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KeyCorp Shares Slide After Revealing Fraudulent Q3 Activity

KeyCorp (KEYGet Report)  shares traded lower Tuesday after the lender uncovered fraudulent activity associated within one of its business customers in its current quarter.

KeyCorp revealed that it is investigating the activity, which it believes was associated with one particular business customer of KeyBank National Association.

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The bank holding company has launched an internal investigation into the matter to determine its exposure, which it currently estimates at $90 million. The Cleveland, Ohio-based bank said there could be an additional impact on its third-quarter earnings. Executives are working with law enforcement to determine additional details.

Shares of KeyCorp were down 1.14% at $17.38 in early trading Tuesday. The shares are down approximately 17% year-to-date.

U.S. banks began rolling out their quarterly earnings numbers this week, starting with Citigroup (CGet Report) , which Monday said that second-quarter profit rose 6.6% to $4.8 billion. JPMorgan (JPMGet Report) and Goldman Sachs (GSGet Report) both posted better-than-expected results on Tuesday before the market open.

Wall Street analysts have warned that U.S. banks could face a squeeze on their lending profits as the Federal Reserve moves toward a likely interest-rate cut later in July.

JPMorgan Chase, Citigroup and Goldman Sachs are holdings in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stocks? Learn more now.

JPM, WFC, GS Earnings: The Economy Is Strong, But There’s a Caveat

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Source: KeyCorp Shares Slide After Revealing Fraudulent Q3 Activity – TheStreet

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5 Savvy Ways To Invest $10,000 In 2019

What would you do if you suddenly had $10,000 in cash at your disposal? Would you splurge for a trip to some far-flung corner of the world? Trade up for a nicer vehicle? Buy new furniture and a hot tub for your backyard deck? Those ideas might be the first that come to mind, but they may not be ones you will feel proud of ten or twenty years from now. Unless you have high interest debt you could pay off, your best bet with any “found money” is always going to be investing it for the long haul…..

Source: 5 Savvy Ways To Invest $10,000 In 2019

Why You’re Not Investing Enough – Donna Divenuto-Ball

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In June, we asked readers to tell us what’s keeping them from investing more… or investing at all. As illustrated in this week’s chart, almost 28% feel like they’re investing what they can. But a whopping 43% either don’t know where to start investing… or won’t invest for fear of losing money. The remaining 30% or so had other reasons, including not having enough money, being in debt and not understanding the markets. A 2015 Bankrate Money Pulse survey found that 73% of the more than 1,000 Americans polled didn’t own stocks at all, primarily because they didn’t know enough about the markets… or didn’t have enough money to invest……..

Read more: https://www.investmentu.com/article/detail/59546/most-americans-dont-own-stocks#.W5iWfBEVS1s

 

 

 

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