Borsa Italiana, as a leading international markets infrastructure provider and as a facilitator of the dialogue between issuers, sell side and investors, is ideally placed to help promote good practice across the industry. Within the field of its mission, it has joined the Sustainable Stock Exchanges Initiative, backed by the United Nations, with the aim of supporting the transition to a low environmental impact economy. Moreover, through the London Stock Exchange Group it adheres to the Climate Bonds Initiative and is compliant with the ICMA's Green Bonds Prnciples. The London Stock Exchange Group is also one of the signatories of the Paris Pledge for Action.
In the last year LSEG has carried on its mission in two different ways:
- on one side, promoting the Guidance for issuers to assist them on integrating ESG principles into investor reporting and communication, increasingly crucial factors for institutional and retail investors to be considered in their decision making;
- on the other hand, providing investors the following tools to enable them to identify, analysis and incorporate climate and sustainability considerations into their investment process:
a. information services - including indices and analytics;
b. dedicated "green bonds" segments;
c. the list of green and/or social bonds listed on MOT and ExtraMOT markets.
In relations to this particular initiative, starting from March 2017, Borsa Italiana has decided to offer institutional and retail investors the possibility of clearly identify a list of instruments whose proceeds are destined to financing projects which benefit or impact environmental ("Green Bonds") and/or social ("Social Bonds") projects.
These sustainable bonds will be certified by an independent third party entity and the use of proceeds will need to be readily available and renewed at least annually.
Borsa Italiana is also conscious of the importance of so called “Climate-aligned” bonds, issued by companies belonging to such sectors supporting the transition to a low environmental impact economy. Although these instruments are not listed as “Green and/or Social Bonds”, the sector designation can nonetheless be identified through the ExtraMOT PRO search engine.
- Starting from January, 16th "ENEL FINAN GREEN TF 1,125% ST26 CALL EUR" will be listed on ExtraMOT PRO
- Starting from November, 28th "CDP SOCIAL BOND TF 0,75% NV22 EUR" will be listed on ExtraMOT PRO
- Starting from October, 24th "IREN GREEN BOND TF 1,5% OT27 CALL EUR" will be listed on ExtraMOT PRO
- Starting from October, 25th the new International Finance Corporation Green Bonds will be listed on EuroMOT
- Starting from April, 20th “Hera S.p.A. TF 2,375 2014-2024” will be included in the green segment
- Starting from March, 13th "ENEL 2017-2024" will be listed on ExtraMOT PRO