A European Climate Emergency Fund

AXA
By November 20, 2019 10:56

A European Climate Emergency Fund

How a European joint debt issuance initiative could help fund the green transition

In this paper, we explain how a European joint debt issuance instrument could help fund the green transition, drawing on the successful experience of the ESM in dealing with the 2012 sovereign debt crisis. This approach, which combines low-risk and low-cost funding with effective conditionality would assuage concerns in core countries about the risk of drifting into an “unlimited transfer union, i.e. the risk that mutualisation ends up being “played” by fiscally spendthrift member states. Ideally, we think such vehicle should front-load its debt issuance, to take advantage of the current environment of extremely low interest rates. With adequate size, this could come with significant collateral benefits – such as at long last, the creation of a proper reference asset at a European level. This would in our view meet significant demand from long-term investors.  

AXA
By November 20, 2019 10:56

Search

Featured Events & Webinars

  1. T. Rowe Price – Webinar – What will a new era bring for Japan?

    October 7 @ 10:00 - 10:30

Twitter

"Our clients are constantly grappling with market uncertainty, shrinking margins, changing regulatory requirements and a fast- changing #technology landscape. As a result, their investment ..." -> https://www.opiniopro.com/2020/09/state-street-global-advisors/the-future-is-open/ #tech

"#Emergingmarkets (EMs) are on the front lines of #climatechange, facing challenges that could hamper economic development and jeopardise human health and capital assets. Physical climate risks" -> https://www.opiniopro.com/2020/09/wellington/climate-change-and-emerging-markets-assessing-opportunities-and-challenges/

"The relentless run in #riskassets over the last five months finally faded a bit in early September, as the S&P 500 fell nearly 8% and the tech-heavy #NASDAQ fell 11%. This year’s returns have been heavily influenced by the …" -> https://www.opiniopro.com/2020/09/northern-trust/an-interesting-fall/

Load More...

Search on date

November 2019
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930