ESG Industry Report Card For Covered Bonds Published
MADRID, Nov. 9, 2020 /PRNewswire/ -- S&P Global Ratings today published ESG Industry Report Card: Covered Bonds on RatingsDirect.
This report explores how environmental, social, and governance (ESG) credit factors influence the credit quality of our rated covered bond programs, including how and why ESG factors may have a more positive or negative influence on an entity's credit quality compared to sector peers or the broader sector.
ESG credit factors can influence the issuer's credit quality as well as other features relevant to our covered bond analysis, such as collateral pool characteristics or the relevant legal framework, due to the product's dual recourse nature.
Governance is the factor that influences covered bonds' credit quality in most instances, generally more negatively than positively.
Social and environmental considerations are currently less relevant, but we expect them to play a larger role in the future.
This report does not constitute a rating action.
The report is available to subscribers of RatingsDirect at www.capitaliq.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to research_request@spglobal.com. Ratings information can also be found on S&P Global Ratings' public website by using the Ratings search box located in the left column at www.standardandpoors.com. Alternatively, call one of the following S&P Global Ratings numbers: Client Support Europe (44) 20-7176-7176; London Press Office (44) 20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or Moscow (7) 495-783-4009.
Contact List
PRIMARY CREDIT ANALYST
Antonio Farina Madrid (34) 91-788-7226 | PRIMARY CREDIT ANALYST
Marta Escutia Madrid + 34 91 788 7225 | PRIMARY CREDIT ANALYST
Frankfurt (49) 69-3399-9208 |
PRIMARY CREDIT ANALYST
Adriano Rossi Milan + 390272111251 | ANALYTICAL MANAGER
Barbara Florian Milan (39) 02-72111-265 | SECONDARY CONTACT
Ana Galdo Madrid (34) 91-389-6947 |
SECONDARY CONTACT
Maria Luisa Gomez Grande Madrid (34) 91-788-7208 | SECONDARY CONTACT
Tristan Gueranger, CFA London + 44 20 7176 3628 | SECONDARY CONTACT
Andreas M Hofmann Frankfurt + 49 693 399 9314 |
SECONDARY CONTACT
Matteo Lanza London + (44)2071766026 | SECONDARY CONTACT
Calvin C Leong Melbourne (61) 3-9631-2142 | SECONDARY CONTACT
Natalie Swiderek Madrid (34) 91-788-7223 |
SECONDARY CONTACT
Yalan Tao Hong Kong + 852 2532 8033 | SECONDARY CONTACT
Judit O Woelk Frankfurt (49) 69-33-999-319 |
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SOURCE S&P Global Ratings
