AIIB announces ESG title structure to simplify the verification process

AIIB announces ESG title structure to simplify the verification process

AIIB has nearly doubled its membership to 103 countries since it was launched in 2016 and has approved $24.15bn in financing across 119 projects. “We said: ‘Maybe we can see if we can remove some of the uncertainty and really place the issuer — AIIB — in the market as a sustainable issuer’ . . . If you are a potential investor in a bond issued by AIIB, you don’t have to worry about which of our bonds you are going to buy,” he said. The introduction of the framework comes against a backdrop of concern over greenwashing in the ESG bond market. Some environmental experts have criticised the AIIB’s oversight of its investments.

Moral Money One of the “major constraints” in sustainable investing stems from a lack of taxonomies or agreed standards between countries for screening and monitoring funding and projects, he added.

Moral Money is our new weekly newsletter covering sustainable business, finance and investing. Sign up here for breaking news and insightful analysis on this bubbling revolution. “If you are an investor, what are the tools that you have to really judge and be assured that what you are touching, what you are investing your capital in, is being committed to the causes that you really want to support?” Domenico Nardelli, AIIB’s treasurer, told the Financial Times.

Recommended “This is exacerbated by the transparency void in which these projects operate, with no public disclosure of portfolios, and no information published on how the bank interacts with fund managers,” IDI wrote. “Without going deeper and assessing risks and performance at the project level, the AIIB unavoidably opens itself up to exposure to adverse impacts,” the group wrote on China Dialogue, an environmental news website, on Tuesday.

However, Inclusive Development International, an environmental campaign group, has raised concerns over AIIB’s efforts to boost private investment in Asia using third-party managers. Part of the proceeds from the “kangaroo bond” are earmarked for boosting private sector investment in infrastructure in Asia by partnering with asset managers, who pool portfolios of loans into investment-grade tranches.

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