Despite strong showings from peers including BNP Paribas and Citi, HSBC’s strength in sustainable finance is deep rooted and hard to match. Jonathan Drew’s team lifts this award for the fourth consecutive year.
It’s not just the numbers, although they are compelling. HSBC ranks first for green, social, sustainability and sustainability-linked bond issues in Apac. It’s equally strong on sustainability-linked lending. But it’s more about the sense of leadership and this manifests itself in several ways.
One is in new ideas, structures and deals: the world’s first government global MTN programme dedicated to green bond issuances (Hong Kong SAR); the first transition bonds aligned to the ICMA Climate Transition Finance Handbook (Bank of China HK); the first green socially responsible investment Sukuk in Asean (Leader Energy); the first dollar Covid bond from a non-government entity in Asia (Kookmin); and the first Covid bond from a public-sector issuer in Asia (Republic of Indonesia).
Another is the very structure of these markets.