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Turning capital into climate action
Targeted green bond investment can help finance measurable environmental outcomes.
- Funding greener buildings and renewable energy
- Supporting transparency, oversight and measurable impact
- Find out more about Pendal’s Responsible Investing capabilities
THE transition to a lower-carbon economy requires more than new renewable energy generation. Improving the efficiency of existing buildings is also important, as buildings account for a significant share of global energy consumption and emissions.
Financing both renewable energy and more efficient infrastructure is therefore an important part of reducing emissions over time.
Regnan Credit Impact Trust and Pendal Sustainable Australian Fixed Interest Fund invested in an AUD-denominated green bond issued by OCBC, a Singapore-headquartered bank with a long track record in sustainable finance across the Asia-Pacific region.
The bond is issued under OCBC’s Sustainability Bond Framework[1], which supports a range of environmental projects including renewable energy, green buildings, clean transportation, waste management and water infrastructure.
Independent review of the framework[2] has concluded that it is aligned with recognised international sustainable finance standards.
Proceeds are expected to be primarily allocated to renewable energy and green building projects across Australia and Singapore.
Historically, these investments have included renewable energy assets alongside energy-efficient commercial buildings.
In OCBC’s most recent reporting, approximately 91 per cent[3] of allocated proceeds were directed to green buildings and 9 per cent to renewable energy projects.
These investments help reduce energy consumption, lower emissions and support the gradual transition of existing infrastructure toward more sustainable outcomes.
An important feature of the bond is the governance surrounding the use of proceeds.
Eligible projects are assessed under OCBC’s sustainability governance processes and are subject to external review and ongoing reporting.
For Regnan Credit Impact Trust and Pendal Sustainable Australian Fixed Interest Fund, this provides additional confidence that capital is being directed toward clearly defined environmental activities with transparent oversight and accountability.
[1] OCBC Sustainability Bond Framework
[2] Second party opinion on OCBC Sustainability Bond Framework from sustainalytics.pdf
[3] OCBC Green Bond Report 2024
Find out about
Pendal Sustainable
Australian Fixed Interest Fund
George Bishay, Head of Credit and Sustainable Strategies
About George Bishay and Pendal
George Bishay is Pendal’s head of credit and sustainable strategies. George’s investment management career spans over 30 years with Pendal and its predecessor firms.
He has also worked across numerous fixed income, credit and money market portfolios in portfolio management, credit analysis and dealing roles for 27 years.
In 2019 George was awarded the Alpha Manager status by Money Management publisher FE fundinfo.
Find out more about Pendal’s fixed interest strategies here
Pendal is an Australia-based investment management business focused on delivering superior returns for our clients through active management.
This report has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL 431426.
It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider whether the information is suitable for your circumstances and we recommend that you seek professional advice.
The product disclosure statement (PDS) for the Regnan Credit Impact Trust (Trust) and Pendal Sustainable Australian Fixed Interest Fund (Fund), issued by PFSL, should be considered before deciding whether to acquire, dispose, or hold units in the Trust or Fund. The PDS and Target Market Determination can be obtained by calling 1300 346 821 or visiting our website www.pendalgroup.com.
This report may contain information contributed or prepared by third parties. Any information contributed or prepared by third parties is believed to be accurate as at the time of compilation and is being provided in good faith without independent verification. PFSL does not warrant the accuracy or completeness of any information provided by a third party.
To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital. All investing involves risk including the possible loss of principal.