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Allocation & impact metrics for Equality Progress Sustainability (EPS) Bond 3 and Green Bond 6 (renewables, affordable housing, social inclusion, etc.). 

Detailed KPIs such as GHG emissions avoided, water savings and social metrics (affordable housing units, mortgages to first-time buyers, loans in qualifying communities).

Describes JPM’s approach to environmental, social and climate-related matters, aligning to GRI, SASB and TCFD frameworks.

Split between investment stewardship (engagements, proxy voting, ESG integration) and corporate sustainability (people, environment, community, governance).

Highlights include 38 ESG engagements with 30 investee companies, UN SDG framing, and a detailed proxy-voting appendix.

Stewardship approach across equities, fixed income, infra, real estate, agri, etc.

Engagement and proxy voting case studies, climate and sustainability themes across their various platforms.

Sets out governance of stewardship, RI resources and team, engagement and voting approach, conflicts of interest management, etc.

Explores engagement themes like the High Seas Treaty and ocean-related risks, AI’s power demand, and voting trends across Asia & EM.

Case-study-heavy engagement report with voting and engagement highlights

• NEI’s RI model, governance and implementation.
• Stewardship chapter: corporate dialogues, engagement themes and outcomes, proxy voting stats (1,005 AGMs voted; 450 shareholder proposals, etc.).
• Policy activity and collaborations (e.g. PRI, Climate Engagement Canada, OGMP 2.0)

Investment targeting nature-related outcomes needs to scale significantly and swiftly in order to meet the targets set by the Global Biodiversity Framework.

Without significant action to mitigate and reverse nature loss, the Intergovernmental Panel on Biodiversity and Ecosystem Services (IPBES) estimate that we will continue to lose USD$10–25tn per year due to unaccounted-for costs of BAU economic activity. Individual companies will face increasing physical and transition risks as a result.

Key Takeaways

• Looking at corporate bond yields between 2016 and 2024 issued across 57 countries, we find no clear evidence that green bond issuance offers issuers a cheaper cost of capital than conventional bonds.
• We observed a green premium (greenium; a lower yield for green bonds) in 2016-2022 and only in Europe, where the difference was 28 basis points (bps), likely linked to local environmental policies, while green bond issuance has been associated with higher financing costs in North America since 2022 (+46 bps).
• At best, a green label accounts for a negligible share (0.04%) of bond pricing, whereas other factors, such as ratings, maturity dates, volume, currency, sector, and country of issuance explain more than 60% of bond yields.
• The greenium tends to be smaller for issuers of both green and conventional bonds than for issuers tapping only conventional bond markets, indicating that an issuer's characteristics and reputation have a greater influence on funding costs than the label of the issuance.

ESG sukuk issuance surged by 46% year on year to USD13.5 billion by end-9M25, marking a full-year record. Fitch Ratings expects ESG sukuk to retain a prominent role in emerging markets, with momentum likely to remain solid into 2026.

SMBC and Jefferies co-hosted a forum for senior executives from leading Japanese corporations and investment firms. The event built on Jefferies’ Sustainability and Transition team’s longstanding collaboration with Japanese leaders to unlock opportunities in the country’s climate investing and decarbonization journey.

SMBC and Jefferies explored how Japanese companies can best monetize the energy transition and Green Transformation (GX) Plan, a $1 trillion effort to reduce emissions over the next decade. The event’s themes — pragmatism, value creation, and collaboration — anchored discussion of best practices across Europe, the United States, and China.

Published: November 21, 2025 by Andrew Howell, CFA, Senior Director and Head of Research for Sustainable Finance, EDF and Ismael Hernandez Rivera, Senior Manager Sustainable Finance, EDF

Next week, the International Sustainability Standards Board (ISSB) closes its consultation on proposed amendments to several sector-specific disclosure standards (the “SASB standards”) including for coal operations, oil & gas, metals & mining, iron & steel, and processed foods. Among numerous proposed enhancements, one deserves to be called out: the improved treatment of methane disclosures.

Methane is responsible for roughly one-third of today’s global warming, yet many corporate climate disclosures still treat it as a footnote. We strongly support these enhancements and encourage investors and other stakeholders to share their insights into the importance of these proposed changes.

Caroline Li, Deputy Product Manager, sits down with Chen Chen, Head of China Healthcare, to explore the forces driving China’s Healthcare surge, regulatory dynamics and the investment opportunities shaping the sector’s future.

Market commentary - Scott Voss, Managing Director, Senior Market Strategist

"At the Paris AI Action Summit this past February, Dario Amodei, CEO of AI superpower Anthropic, offered a striking analogy: As early as 2026 or 2027, AI systems will be “akin to an entirely new state populated by highly intelligent people appearing on the global stage—a ‘country of geniuses in a datacenter’—with the profound economic, societal, and security implications that would bring.” 

If this is true, I wonder if this “AI nation” will have a seat at the table when and if we need to renegotiate sovereignty, trade, governance, or climate policy? And which large language model will inform its worldview?....."

"Our 2025 Annual Sustainable Investing Report describes in detail how we put this principle into practice, investing with responsibility and purpose in order to drive long-term value for our clients, partners, and the communities in which we operate."