LGX Corner - June

Welcome to the June edition of the LGX roundup!

This month, before a brief break for summer, we bring you the latest green bond issuance from Bank of China, LGX's sponsorship of CARE’s Climate & Resilience Academy, interesting market insights and much more.

Earlier this month, in the presence of Luxembourg Minister of Finance Pierre Gramegna and China’s Ambassador to Luxembourg HE Yang Xiaorong, LuxSE and Bank of China’s Luxembourg branch joined together to celebrate the listing of a two-tranche green bond on LuxSE.

This green bond listing is comprised of two tranches worth EUR 500 million and USD 500 million respectively, and is also displayed on LGX.

Climate change and social injustice are some of the biggest challenges facing the world today. In developing countries, these challenges are even greater. They require a collective response but many companies and individuals still lack the knowledge they need to fight these pressing issues and contribute to a positive change. Strengthening education and awareness will be key.

In this context, LGX is proud to sponsor CARE’s Climate & Resilience Academy for private sector to raise awareness and help companies understand and respond to the climate crisis.

In cooperation with the CARE Climate Resilience Platform and with the support of LGX, CARE now offers companies three online courses on climate change and gender equality, which will help participants understand the causes and impact of the climate crisis. Each company signing up for the courses will be asked to make a donation to CARE's climate programmes.

During the month of June, our expert lecturers at the LGX Academy took part in a special training with participants from the Capital Markets and Financial Instruments Certificate (CAMFIN) programme run by Luxembourg's House of Training.

CAMFIN trainings are held in Luxembourg twice a year and jointly organised by ICMA Luxembourg and House of Training. Over the course of the 5-day trainings, the LGX Academy lecturers provided residential training to 16 back and front office financial professionals joining from all over the world.

The training brought participants along on a deep dive into the sustainable debt market and related case studies, and highlighted best market practice.

In a virtual panel event organised by the Association of the Luxembourg Fund Industry (ALFI) and PwC Luxembourg, LuxSE's CEO and Founder of LGX Julie Becker sat down with Andrew McDowell, PwC Luxembourg partner, and Jamie Broderick, Board Member of the Impact Investing Institute to discuss the role of finance in reaching net zero.

In a panel that aired on 31 May, organised by Abu Dhabi Global Market (ADGM), LuxSE's CEO and Founder of LGX Julie Becker discussed the role of financial centres in scaling up green finance.

Together with other industry experts, she discussed the different initiatives implemented by Abu Dhabi and Luxembourg’s financial centres to accelerate sustainable finance.

On Wednesday 2 June, LuxSE's Head of Sustainable Finance Laetitia Hamon took part in a panel organised by the Luxembourg Sustainable Finance Initiative (LSFI) where along with other industry experts, Ms Hamon discussed best practices, use-cases and investment strategies, showcasing how it is possible to transition towards increased sustainability.

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Italian energy company Eni launched the first sustainability-linked bond in the oil and gas sector, aligned with ICMA’s Sustainability-Linked Bond Principles. The EUR 1 bn bond will help to achieve the company's sustainability target of reaching carbon neutrality by 2050 and eliminating flaring by 2025.

German energy company EWE also brought its inaugural EUR 500 m green bond to LGX this month. With this issuance, EWE is following its strategic direction to be climate-neutral by 2035 and will finance  projects such as fiber optic networks, renewable energy generation and charging infrastructure.

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