National Australia Bank sells rare $500 million gender equality bond
Friday, March 17, 2017
National Australia Bank, the country’s fourth-largest lender by market value, said on Friday it sold $500 million of “gender equality” social bonds, amid burgeoning demand for ethical investments.
Ethical investing in Australia has doubled to $51.5 billion in the past two years, according to the Responsible Investment Association Australasia.
AMP Capital said on Thursday it would sell $570 million worth of tobacco and weapon manufacturing-related stock and bond holdings under its revised Environmental, Social and Governance (ESG) program and Responsible Investment Philosophy.
Australia is lagging many of its peers when it comes to responsible bond issuance. There has been a meagre $3.5 billion worth of debt, nearly all green bonds, sold so far in the country.