A growing number of bankers and investment managers are trying to develop a transition bond market that will allow carbon-intensive companies and industries to finance their gradual shift away from fossil fuels.
Last month, AXA Investment Managers (IM) issued a statement calling for the adoption of transition bonds.
Yo Takatsuki, head of ESG research and engagement at AXA IM, says it is hoped that it will lead to the development of a working group, so that in 12 months’ time a formal set of principles will be in place to support the growth of transition bonds.
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