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Sustainable Finance Kx "Inside Out" Podcast Episode 23
20 Plays5 months ago
Sustainable Finance Knowledge eXchange
We strive to bring you the critical news, events, major breakthroughs and key concepts covering the happenings in this super fast, evolving area of global finance – how the world funds the transition to Net Zero.
Think of us as a curator or sorts (much like a gallery that curates the finest paintings and sculptures) as we source only the best educational knowledge around Sustainable Finance worth sharing.
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Transcript
Introduction and Podcast Overview
00:00:02
SFKx DJ
Hello and welcome to Would You Believe It? the 23rd edition of the SFKX Sustainable Finance Inside and Out podcast. You're with me, SFGuru, to take you through all the latest news, events and major breakthroughs in the exciting world of sustainable finance.
00:00:20
SFKx DJ
As you know, we're a media and training initiative. You can check us out primarily on LinkedIn these days and you can find us at sustainablefinancekx.com. And you can see a few of the previous podcasts and other things that we've been doing.
00:00:35
SFKx DJ
Without any further ado, let's jump straight into the news. SF Guru is still sunning himself on a beach working on his tan marks. So we might have him back by midday by mid-year.
00:00:50
SFKx DJ
So let's dive straight into the news. It has been a few weeks since we've got out the latest podcast. So this is a bit of a compounded episode with lots of interesting news and and developments that have happened in recent recent times and recent weeks.
Sustainable Bond Market Updates
00:01:05
SFKx DJ
ah The sustainable bond market sales past $6 trillion dollars time ah milestone in aggregate, fantastic effort and hopefully the cumulative effect of all of the bonds and loans and sustainable label debt that it's happened over the last few years, not only grows in size, but grows in impact.
00:01:24
SFKx DJ
Changing gears, if we look at year to date, March on March wasn't actually too bad with an increase. I think it was 10 or 15%, but it's more quarter on quarter I'm interested in looking at. and Environmental finance came out with some key data. Overall, look, the market's down about 20%. Not surprising given all of the shenanigans that are occurring over the world, the market volatility.
00:01:48
SFKx DJ
couple of concerns within the numbers, Green down 24%. As we know, that's the sort of bellwether, that the backbone of the overall sustainable finance market.
00:02:00
SFKx DJ
And then if you look at the issuer type, corporate's down about 42%. Sovereign's down 38%. Supernatural's up
Global Market Dynamics and Challenges
00:02:10
SFKx DJ
28%. So pretty mixed bag, but let's just say it's flat.
00:02:15
SFKx DJ
Moving right along, Oh, what have we yeah what have we got here? Momentum return to SLL market. That's probably a little bit old, that article, but I think fairly slow. We haven't got any latest data on that, but we will share that hopefully by the next by the next podcast. Let's keep moving um through.
00:02:33
SFKx DJ
um ESG bonds at least exhibit lower volatility and higher liquidity during times of significant market turbulence. So even though issuances down, ah the stickiness of them remains, which is a good thing overall.
00:02:48
SFKx DJ
and Corporate America ditches green bonds. Again, one of the other things I didn't mention in terms of geographic split of issuance and activities, the US s is is really, really dwindled. Not surprising given the toxic environment that's going on over there in terms of ESG and sustainability, which will hopefully be a short-term major swinging of the pin pendulum to an anti-focus. And then hopefully we get we get it back swinging the other way in the not too distant not to do some future. It's interesting at the same time, China goes out and issues its first green bond. So some interesting underlying ah have geopolitical communications with that.
00:03:28
SFKx DJ
GPIF, um Japan's massive And I think one of the largest investors in the world in terms of pension funds has talked and prioritised ESG and announced work that it's doing in that regard to get even deeper. So some markets pulling back, lots of noise, other markets getting on with it and figuring out how this whole area can add value to what they're doing, which is what we're big advocates of sure.
00:03:57
SFKx DJ
for ah for sure um There's been a ah couple of cases of greenwashing in Australia and the UK and some find issues out. So I guess what that means is is more care needs to be taken and more detailed disclosures and narratives around labelling and why and what, who, when.
00:04:17
SFKx DJ
Let's have a look. ah RBC had an interesting report, although I do note as of this week of recording the podcast, they've um decided to withdraw from various commitments that it had made to sustainable finance.
00:04:30
SFKx DJ
But anyway, I thought it was an interesting report they put out. Maybe they're not doing any more reports um like this. a couple of things. are While the political pendulum swings, the fundamental case for sustainability remains resilient through an increasingly complex endeavour. I think that's just the theme this year.
00:04:45
SFKx DJ
A couple of major points from
Corporate Strategies in Sustainability
00:04:47
SFKx DJ
that article about the case for sustainability, although maybe they haven't read their own article. ah Companies are taking an increasingly pragmatic approach, emphasizing value creation. Supply chain risk remains top of mind.
00:04:59
SFKx DJ
AI is spurring investment in low carbon energy and carbon removal technologies. Private capital and innovative financing, blended financing solutions will play a key role. Utilities, real estate and insurance are leading efforts to adapt to climate change. So some pretty key themes there, but again, maybe they didn't read their own ah report before announcing some of the changing commitments.
00:05:19
SFKx DJ
um Interestingly enough, a few articles recently about banks involved with agri names in Indonesia and and connections to palm oil, um Singapore banks facing issues of coal being used to generate power in nickel operations.
00:05:33
SFKx DJ
I'm not quite sure where you draw the line around that, but needless to say, Sustainability remains a very dynamic issue and we implore all of our listeners to deepen their knowledge around these things and can cover as many, nothing is risk-free, but to cover as many issues and items and and structure things as best as they can to avoid some of that.
00:05:56
SFKx DJ
ah Hopefully, ah in a case where I don't know how you avoid some of the reliance on fossil fuels for nickel in the short term, um to come out and you know and say that and let's debate these difficult um issues. What's a lesser evil? We need nickel to transition, but we need coal in the short term, I hope, and that can be changed, I hope, and to to power it where you draw the line on that dynamic. But I think sometimes we just see one-way arguments and and and not a proper two-way
Innovations and Challenges in Decarbonization
00:06:27
SFKx DJ
discussion. Anyway, let's see what happens.
00:06:29
SFKx DJ
um What have we got? Climate transition plans, transition credits for early closure of coal still remaining topical in the um in the news.
00:06:40
SFKx DJ
Mass, um the Monetary Authority Singapore coming out with documents outlining the use of the Singapore taxonomy. ah don't know about that, but let's see. tax Taxonomies, I think, are pretty complicated across the globe and the use of those pretty mixed bag, but they're good and important reference points.
00:06:57
SFKx DJ
A couple of things on aviation, Jet Zero, ah to do carbonize aviation with blended wing aircrafts. Again, I think that's good. We want to see transition finance grow.
00:07:09
SFKx DJ
Transition finance can only grow if there's projects and expenditure and research. So we hope there's more of that. In the same vein, sustainable aviation fuel Airlines get boost as IATA SAF registry launches. There's been a lot of fraud and freed stock um across the SAF industry, apparently in different markets. So registries, who's using what, where it's from, who, what, where, when, how, I think is good. And again, the more of these type of things that come out, the more opportunity for transition finance to play a role and get behind some of these some of these changes. Concrete, speaking of transition in Japan,
00:07:46
SFKx DJ
An interesting article about that acting as a bigger concrete sink. Store your carbon in there, sink it away. Interesting. Let's see if that grows. ESG ratings continue to be topical. But I don't think it's just analytics came out one of the world's largest providers saying they don't believe there are any major rollbacks after DEI.
00:08:09
SFKx DJ
metrics and changes there let's see what happens um as we know hg ratings are important they'll continue to be increasingly and increasingly heavily regulated and and strictly monitored so you know a tool in the drawer of sustainability items to to to use when appropriate right what else have we got here New tech face market uncertainty and pivotal moment for global energy innovation. I hope that that means there's still um not a pinch around climate tech. We
Climate Adaptation and Economic Impacts
00:08:43
SFKx DJ
need it. We need every piece of it.
00:08:45
SFKx DJ
um Why companies keep ESG policies despite political headwinds. We just heard about that in that RBC report, which I think... Outlined it pretty ah pretty well. IRA, huge decarbonisation initiatives and programme in the US are still under review. Let's see how that goes.
00:09:01
SFKx DJ
And what else have we got? ah Adaptation, adaptation, adaptation. A little bit like property, location, location, location. Continues to be talked about and probably we know of smashed the 1.5 degree. So it's starting to get much higher, which means that the whole physical risk arena needs to be taken much more seriously in transition, um moving away from just focusing on decarbonisation to the social elements, just transition, and also the physical climate elements in in adaptation.
00:09:29
SFKx DJ
ah Interesting enough, um Standard Chartered came out with their own sort of framework to label or or call or tag specific deals as adaptation. A very good document. Check that out. They've got some great frameworks on their site and transition and the sort of the decision making boxes around... um around that.
00:09:50
SFKx DJ
What else have we got here? NZBA, look, more banks quitting that, a couple of the Japanese entities quitting that, um then NZBA coming out saying you don't have to meet 1.5 anymore. think i think you know, we're going to see this tension created on many coalitions and whether it's like a group assignment at university, sometimes you're in a good group and things work. Sometimes the sum of the parts may not equal the sum of the people going in. So it's just going to be um topical and we're just in for a year of backtracking, restating, walking away, double downing.
00:10:23
SFKx DJ
That's just the dynamic world that we are um in at the... um at the moment. And speaking of that topic of world banks face New Zealand anti cartel probe over climate targets. So again, you just gonna see so many different elements to this, but I think at sustainable finance KX, we take the longterm view that sustainability is here to stay. It's about dollars and cents and doing the right thing.
00:10:46
SFKx DJ
And companies will probably have to swing the pendulum to the other side from where it's been to really show value and focus on that in a more numeric way. until we can get a ah better sort of balance going back the other way, because some things are not all dollars and cents at the end of the day. um there's a really Speaking of of physical risk and adaptation issues before, there was a fantastic report released by ah by BCG about six weeks ago. And I'll just read a couple of things from that. Climate change undermines economic growth and resilience. Climate action...
00:11:21
SFKx DJ
would safeguard 11 to 27% of cumulative GDP. Again, that just goes to the heart of the theory, spend a dollar now, save five in the future. Not easy, whose dollar is it and on what basis?
00:11:32
SFKx DJ
um Investment required on mitigation and adaptation is equivalent to 1 to 2% of cumulative GDP by 2100. guess if we do nothing, that multiplies and gets a bit out of out of out of control. And that's really the premise.
00:11:46
SFKx DJ
Would you spend a small amount to save a huge amount in the picture. That was by BCG in Cambridge. um What else? Given we're on track maybe for three degrees, all these climate issues, physical adaptation issues are gonna come to the fore. And I think the economic case for climate investment is clear, but not broadly um not broadly understood given those metrics against spending today.
00:12:13
SFKx DJ
saving in the in the future. and And some of the physical risks are a bit like that. it's It's sort of what you avoid, the losses you avoid. How you monetize that now, I don't know. So maybe it's a role of governments and selective companies to protect their own value by doing various various various things. A couple of other points from that article or report, I should say. Economic damages from climate change could reach up to 34% of cumulative GDP by 2100.
00:12:39
SFKx DJ
Current economic models not being sophisticated enough to capture the compound economic damages of climate climate change. I'd agree with that. There's always limitations to predictions, but I guess what the report talks about is do more now, not less, and the economic case and value will will come back in terms of avoided losses in the future. But again, as humans, we probably don't deal too too well with avoiding our losses rather than mitigating something that has a cash flow today.
00:13:10
SFKx DJ
NZBA we talked about before. Let's
Policy and Political Influences on Sustainability
00:13:13
SFKx DJ
keep moving along here. and What have we got? DEI, social, metrics. What happens to that? I hope and I think we've seen the numbers hold up okay for social bonds, although get wrapped more in sustainability issues.
00:13:28
SFKx DJ
And we'll just have to keep our eye um on that. Changing gears a little bit here. If you're unaware of an entity, I think they're based in France called ACT. um They have a lot of industry or sector specific papers looking at decarbonisation activities, and about decarbonisation levers, about how to construct and what looks good for somebody attacking decarbonisation of something like fashion,
00:13:55
SFKx DJ
something like glass making. So slightly different to some of the SPTI and other sectors that are maybe a little bit more well known. So do check gum do check check that out. I think they've released one recently on on fashion and this one was on higher education research.
00:14:11
SFKx DJ
um So interestingly enough there. um Trade war, look, we might talk more about that after the dust settles, but I think that is going to have a huge influence on sustainability mindset, on specific sectors, on specific countries, create inflation around projects, um create a wait and see, and thought process for many corporates, policy uncertainty breeds in action, I think. It's gonna move carbon footprints around the world from A to B if suppliers change and less scrupulous markets may be supplying goods and have a whole host of social issues. So, you know, if someone asks, is the trade war gonna impact sustainability?
00:14:52
SFKx DJ
Yes. Do we still see sustainability important? Yes. It's just the modern world of things that um we will have to have to navigate As I mentioned before, transition is still topical. Just transition, the social and people element of that, you know, really, really important.
00:15:10
SFKx DJ
COP29 coming up later this year. Developing nations agree to increase climate financing for developed countries, blah, blah, blah.
Net Zero Pathways and Accountability
00:15:18
SFKx DJ
I'm a bit sick of reading some of these pledges and um and things. And CPI, I guess nothing new there, but the Climate Policy Initiative analysis updated is up to regularly in a reference point for evidence-based discussions on critical topics.
00:15:32
SFKx DJ
I think we can say they're pretty flat, most of those multilateral type um commitments and actions. And um in an increasingly complicated geopolitical field, issue-filled world, who knows where that's going to ah to have to end up.
00:15:50
SFKx DJ
Let's move right along. um SBTI have announced a public consultation on their latest version of corporate net zero um commitments and targets or net zero standard, I should say, 2.0. If you haven't, please dig into that.
00:16:06
SFKx DJ
Hopefully what it will resolve is a lot of these issues of how corporates can use offsets and things to neutralize or to offset against aspects of scope three, which really blew up um last out last year.
00:16:18
SFKx DJ
In terms of the most significant ships proposed, I'm just um summarizing from an article written by David Carlin. If you don't follow him on LinkedIn, I highly recommend it. Very insightful stuff that he comes out with.
00:16:30
SFKx DJ
Addressing scope three challenges, as I just mentioned, stronger accountability and validation, um greater inclusion for emerging markets, more flexibility in carbon removals, It's really a pivotal moment for corporate net zero strategy. Stronger accountability is essential, but let's see how we can implement um implement that. And there's a lot of negatives too. SBTI rules not not um strong enough to drive change, too many holes. People can just rely on on offsets.
00:16:58
SFKx DJ
Let's see what happens there in this whole issue of scope three value chain as the most, and one of the biggest ah biggest challenges.
00:17:09
SFKx DJ
um Okay, SBTI also seeking support for timber and wood path decarbonisation pathways.
Innovative Financing and Regulatory Debates
00:17:17
SFKx DJ
Again, when you're looking at certain sectors, particularly if you're working in a bank, ACT is great, CBI is great, SBTI is great in terms of sectorial pathways and emissions level and benchmarking.
00:17:30
SFKx DJ
What else have we got? What else have we got here? Just looking through UK launches first world nature finance. um Products are British standards, international introduced groundbreaking government-backed standards.
00:17:42
SFKx DJ
I think we're going to see a lot of information in biodiversity credits, biodiversity um make good and various things. um France has been pretty active on that too.
00:17:53
SFKx DJ
Carbon projects talking about cross-border aspects of of mainly carbon, not yet nature and article six, which got really fully endorsed in terms of the mechanics in last year in COPPA.
00:18:06
SFKx DJ
I think is really going to take off. You're seeing markets like Singapore really in the midst of this in terms of setting up bilateral relationships, announcing MOUs. I think they've got up to 15 plus now.
00:18:18
SFKx DJ
And this whole area of trading and who can do low costs, good quality and contribute um to some of the enhanced markets who have more limited options for decarbonisation play a different role. I think that's i think that's crucial.
00:18:33
SFKx DJ
Can catastrophe bonds ensure the uninsurable? Again, cat bonds being a contingent instrument. ah If there's a big um hailstorm or flood or something and a bond gets arent triggered, I think a lot of these different types of mechanisms, particularly for physical risk, have been talked about for a while, but they're going to have to come to the fore with lots of issues, ah lots of issues now.
00:18:55
SFKx DJ
Okay, grid, grid, grid. Grid congestion is posing challenges for every security and trans transition. i think we know that transmission is a key aspect of transition and needs to be focused on more.
00:19:07
SFKx DJ
Supply chain and bottlenecks for transformers connected to that's still a key issue. Lots of work getting done by different parties, particularly if you're in the world of ASEAN power grids and cross-border and transformers and various things. So keep your eye out on that. I think...
00:19:23
SFKx DJ
sustainable and transition and blended finance are gonna have to really be mixed together to and make a substantial contribution to that area because very difficult um area of of financing.
00:19:36
SFKx DJ
ah The EU omnibus rules were debated at length over the last few months. For those who haven't followed it, it's really a set of legislation to come in to change a whole bunch of other legislation and really reduce complexity, reduce scope, reduce the amount of companies getting caught by a lot of the sustainability reporting directives and obligations in the EU.
00:19:56
SFKx DJ
I think that stems from competitiveness issues from the Draghi report that was released last year. And again, like what I said at the start of the podcast, these issues of geopolitics, competitiveness, energy security, focusing on on returns is is all going to come to the fore and there will be pushbacks on some of these things. And that's for everyone to decide whether that's Cut to the bone too far or whether some of those streamlinings apparently are better or or worse. Let's see.
00:20:27
SFKx DJ
ah Weapons and defense, surprisingly, lots of articles on that should have been included to allow for things like rebuilds in Ukraine and and other things. Don't know. um Most investors have a pretty strict policy on on weapons, but some investors are starting to change the way they look at that. Again, a little bit like nuclear it was a definite no-no when it has evolved. So just shows you how interesting this whole space of sustainable finance is when you've got values and and pretty tight and well long established values around things like defense, weather,
00:20:58
SFKx DJ
um they should the market should evolve to let them creep into sustainable finance transactions.
Sustainable Transactions and Market Trends
00:21:04
SFKx DJ
Not not fully sure on on that. Right, let's move into the trend some transactions. um On the link side, let's have a look. TUI Group, um Tourism and Hospitality over in Germany. Turner Group, um Energy, Star Hill Real Estate, QInvest LLC, QI Invest Guitar Financial,
00:21:25
SFKx DJ
um a t and s manufacturing visco joint stock company on the education side in vietnam actually so i guess what we're still saying is a good healthy spread of countries pretty concentrated industries around your real estate around your energy but a couple of service companies education tourism um You're manufacturing Heartland, which is good to see. Falsh on International um on the financial side.
00:21:55
SFKx DJ
and CBRE on the property side. Axiona on the energy side. Capital rate in the property. Oh, that was actually green. So um healthcare, care let's just keep going on this. GPI, DKSH on logistics. um LCD Electronics, Truly International over in Hong Kong.
00:22:13
SFKx DJ
Qatar Islamic Bank, Airwind did an SLB, TDC on the telco side, Star Hill we talked about, Cebu, the proper landmasters property side, MPC on the shipping side. So nothing earth shattering there. And again, I've read some interesting articles lately that's talked about a little bit less reliance on GHD targets, probably still 80, 85%, but some of the other social governance issues starting to come up more.
00:22:40
SFKx DJ
um as we see those structures build out over time. Changing further i further gears, I just better it take a longer a longer breath there. um Use of proceeds, France did some issuance, China we mentioned before, Pakistan i'm getting ready, Sri Lanka getting ready, and then a whole bunch of banks. Banks have really been a powerhouse, I'd say, over the last three, six, 12 months, really, and they provide a really good catalytic influence on broader aspects of the markets because they have so many customers. Sparebank, ABNMRO, BTG, European Investment Bank, Sunrise Bank, Institute Catala,
00:23:18
SFKx DJ
um What else have we got? um Deutsche, IBRD, EBRD, SEB, Council of Europe, North America, lots and lots of different types of primarily a mixture of sustainability, some green, a little bit social, um but less less so on that dedicated social level.
00:23:38
SFKx DJ
ah social side i could keep listing them but i think everyone gets the the idea utilities again another mainstay uh sfe green energy ag alanda um ls vinge more on the infrastructure side um good to see cambodia doing a project bond connected to utilities and energy i believe as well some property blackstone kdx stockholm kopivata mitsubishi estate Nothing earth-shattering there, but an important part of the market. Semiconductors, tc TSMC, one of the biggest producers in the world, in Taiwan, again, issuing in green. Great to see um around the various initiatives they have. And I think we're going to see that just continue a lot of these electronic semiconductor and connected parts. Maybe some of NVIDIA and others will start to get into that um as well.
00:24:32
SFKx DJ
few other ones are air liquid on um um low carbon hydrogen, Equinex on the data centers, Iberola utilities, Echolos Vind utilities, I think I mentioned that before, ports, Lianyongang, I probably said that wrong, um in China, some high speed railways in Shandong, TMSC we talked about, some chemicals and energy storage as well. So,
00:25:00
SFKx DJ
Pretty good broad mixture there. In some ways, a lot of the same, same. But these markets we talk about, banks, sovereigns, utilities, property, infra, and then a lot of these other heartland manufacturing type businesses, it's just what the market is made up of and will slowly continue to diversify, which is good for us.
00:25:25
SFKx DJ
couple of questions from Murray, our question pot. He's had a couple of weeks off, so he's ah he' fired up again. What's next for carbon markets? Look, I think putting one area aside, biodiversity nature, that's going to be huge, but we put that aside. I think we're struggling to deal enough with with carbon markets at the moment. There's definitely a shift for greater, better standards. There's definitely a shift to wait to see what things like SBTI don't dictate.
00:25:54
SFKx DJ
Coursera on the aviation um side. um There's going to be more markets in Asia where we're based to to have more compliance markets. um India's getting close to something. Japan's in the midst of something. China's turning the screws on there. So lots of more programs, lots more pricing, lots more schemes.
00:26:13
SFKx DJ
If you then look
Energy Transition and Infrastructure
00:26:14
SFKx DJ
at the financing options around that, a lot of financing options connected primarily in the banking world to um compliance allowances and you know and credits and working capital requirements around if you have them and someone else needs them, if you want them in short term.
00:26:29
SFKx DJ
and as I say, more compliance markets. On the voluntary side, I think um hopefully we'll see more financial intermediation of projects, supporting projects before they have credits, supporting people to buy land to generate credits, and a whole a whole range of things. And there's going to be different structures that that um the come up, people needing money to to buy something in the future to set up projects. So we'll see, but but still a little bit tricky for banks to to participate in a BAU fashion um for that.
00:27:01
SFKx DJ
um Transmission, why is it so important and why are we reading more about it? Look, I think as I mentioned before, I'll just quickly summarize again. and The generation and the distribution are sort of the sexier parts on the overall value chain of ah of electricity distribution.
00:27:20
SFKx DJ
We need to electrify. We need to move away from fossil fuels. But what that means is it's putting a huge... um demand on the transmission system now population centers are not necessarily where renewable energy is and transmission is the most non-sexiest part generally monopolized by governments at least in most parts of asia not always and pretty interesting financing structures having it done in europe and other places reflecting the way those assets hold held sorry and privatized But we need it.
00:27:51
SFKx DJ
We're not going to reach net zero without it. It's difficult to finance. It's low return. It's longer tenor. All the things that the banks struggle with. And I think there's a real opportunity for blended finance to come in and explore some different innovations and structures around that. So if you thought you've read a lot about it now, you're going to read a huge amount.
00:28:10
SFKx DJ
about it in the future. And even markets like Indonesia, interesting reports coming out about pumping more renewable energies through that and paying PLN or the utility there extra money to prioritize some of the connections because there's a lot of buyers that want more renewables and are struggling to get that level of of commitment through the through the country. So lots and lots and lots is going to happen in that non-sexy part of transmission, but ah critical.
00:28:35
SFKx DJ
Okay, we're nearly wrapped up. I know it's been a packed half hour or almost half hour for the podcast ummp today, but just products and programs, a couple of things, green securitization. um I've seen a couple of deals recently in Europe, which is great. Again, um as long as the assets green,
00:28:51
SFKx DJ
The fancy of the structure, the innovator of the structure, if it moves more money to where it's needed to fund the green assets to grow it, why not? EDF, a French utility power company, open to exploring debt for nature swaps. Again, debt for nature swaps, getting a haircut on debt owed in lieu of committing to do something positive for environmental conservation. Generally, we've seen a handful of those get done at more government-type level.
00:29:16
SFKx DJ
Be very interesting to see if some corporates can avail themselves of that. And generally corporates would have to have a pretty good nature based biodiversity footprint. Um, but look, we're, maybe we're going to see this concept change to something else.
00:29:28
SFKx DJ
Corporates getting haircuts, investors changing, getting paid out, giving it to someone else with a more of an impact mandate and they being prepared to take haircuts dependent on certain commitments being made. So look out, uh,
00:29:45
SFKx DJ
ah Look out for that. Agri-farmers across, um ah across where was this one? ah Kenya continue to be popular. Smart farming, climate smart farming, climate smart agri, all those sorts of things. and And Standard Bank again in Africa, home home loans around green type property. So a little bit more of the same, but interesting on the debt for nature swaps and green securitization rearing its head a little bit again. So...
Conclusion and Listener Engagement
00:30:12
SFKx DJ
um I hope you've enjoyed the podcast today. It was a little bit over overdue. Lots happening in the markets. And that's really all we've got time ah for today. We hope you liked it. Check us out mainly on LinkedIn these days at Sustainable Finance k KX. We should still be on X or Twitter, Sustainable Finance KX, although that's getting a little bit stale what's on there, but lots of good relevant stuff.
00:30:35
SFKx DJ
um I am SF Guru, and until next time, we'll see you then. i' better do a couple of yeehaws to keep SFDJ happy. Yeehaw, yeehaw, yeehaw.
00:30:48
SFKx DJ
and we'll catch you for episode 24 in coming weeks. Stay good, and let's all do more sustainable finance together. Cheerio.