ESG & Municipal Bonds: The State of the Market

Green, Social, and Sustainability bond issues are gaining popularity as more issuers and borrowers incorporate socially and environmentally responsible factors into their capital planning and operations. Please join Orrick and The Bond Buyer as we explore the growing role of ESG (Environmental, Social, and Governance) in the municipal bond market, the leading bond designation standards, and the costs and benefits of issuing sustainability bonds. Against the backdrop of a self-regulating industry, prevailing guidelines for issuing “Green”, “Social”, or “Sustainability” bonds in the United States are emerging from foreign organizations. This session will help participants identify eligible projects and gain an understanding of related requirements and best practices.

Topics to be covered:

• The bond designation frameworks (i.e., the International Capital Market Association’s Green and Social Bond Principles and the Climate Bonds Initiative’s taxonomy).
• “Greeniums,” ancillary benefits, and costs associated with issuing sustainability bonds.
• A case study on issuing sustainability bonds in the U.S. municipal market.