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Balancing ESG with structure and liquidity: Is there a liquidity and/or price advantage for green and sustainable debt?

Broadcast on Oct 13, 2020 from Livestream: Project, ECA & Structured Finance MENA 2020 - Virtual Conference

Gold Sponsor

SMBC

Industry Sponsor

ACWA Power

Silver Sponsor

Deloitte

Bronze Sponsor

Fitch Ratings

Bronze Sponsor

UK Export Finance

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Balancing ESG with structure and liquidity: Is there a liquidity and/or price advantage for green and sustainable debt?

  • Pricing or PR: Does green, social and sustainable finance offer a pricing advantage? How much extra cost is involved in ESG-linked financing options?
  • How are renewables and social infrastructure projects optimising synergy with ESG criteria? What instruments can they use to tap ESG-focused finance?
  • Transition financing: What are the capital and economic reasons for dirty industry borrowers to incorporate ESG into their financing strategy?
  • Record bond issuances in 2020 but Green Debt is down 20% YTD: Is sustainable finance losing steam because of the pandemic?
Middle East

Moderator

Patrick Drum

Patrick Drum

Patrick Drum

Portfolio Manager at Saturna Capital

Amana Participation Fund Portfolio Manager
Sustainable Bond Fund Portfolio Manager

Patrick T. Drum, Research Analyst and Portfolio Manager, joined Saturna Capital in October 2014. He is also a portfolio manager for the firm’s institutional subsidiary, Saturna Sdn Bhd in Kuala Lumpur Malaysia, directing halal fixed income investments.

He is a select member of the United Nation’s Principles for Investment (UNPRI) Fixed Income Outreach Subcommittee and an adjunct professor of finance at Pinchot University, formerly known as Bainbridge Graduate Institute (BGI). Mr. Drum has nearly ten years of experience integrating ESG considerations into fixed income portfolio management.

He holds a BA in economics from Western Washington University and an MBA from Seattle University Albers School of Business. He is a Chartered Financial Analyst Charterholder (CFA) and a Certified Financial Planner®. Mr. Drum has more than 20 years of investment experience in serving institutions and private clients.

Saturna Capital

Speakers

Manish Manchandya

Manish Manchandya

Executive Vice President, Chief Financial Officer

Saudi Electricity Company

Manish Manchandya

Manish Manchandya

Executive Vice President, Chief Financial Officer at Saudi Electricity Company

Saudi Electricity Company

Greg Saichin

Greg Saichin

Greg Saichin

Advisor at Even Keel Family Office

Even Keel Family Office

Sarah Pirzada Usmani

Sarah Pirzada Usmani

Managing Director - Head of Asset & Project Finance

First Abu Dhabi Bank (FAB)

Sarah Pirzada Usmani

Sarah Pirzada Usmani

Managing Director - Head of Asset & Project Finance at First Abu Dhabi Bank (FAB)

Sarah has over 18 years of corporate and investment banking experience having worked across a number of banking divisions such as Project & Export Finance, Asset Finance, Structured Finance, Structured Trade Finance & Financing Solutions and Client Relationships across Europe, Asia, Africa and the Middle East

She joined FAB in May 2016 from Standard Chartered Bank where she held a number of senior roles including but not limited to; Regional Head of Asset Finance & Leasing, Regional Head of Structured Export Finance, ASEAN Coordinator for Structured Trade Finance and Financing solutions etc.

Sarah is well versed with the European and Asian Export Credit Agencies (ECAs) having originated, lead and concluded several landmark, award winning Project & Export finance transactions and advisory assignments for regional and international clients across Asia, Africa & the Middle East. She also successfully established the Export Credit Agencies (ECAs) platform for FAB

Sarah also has significant experience in the corporate finance space including Asset Finance having successfully delivered bespoke financing solutions to clients across sectors such as mining, construction and aviation - both to Airlines and Lessors demonstrating ability to support the sector in multiple ways

Sarah holds a Master’s degree in Business Administration from Institute of Business Administration Karachi (Pakistan)

First Abu Dhabi Bank (FAB)

Sarah Pirzada Usmani

About First Abu Dhabi Bank (FAB)

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, products and services to its customers. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

Headquartered in Abu Dhabi, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.

With total assets of AED 955 Billion (USD 260 Billion) as of September-end 2020, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region.

The Bank has been ranked by Global Finance as the Safest Bank in the UAE and the Middle East, and the 32nd Safest Bank globally.

To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.

For further information, visit: www.bankfab.com

LinkedIn page: https://www.linkedin.com/compa...

Nicole Martens

Nicole Martens

Director, Martens Impact Advisory and Acting Head of Africa & Middle East,

UNPRI

Nicole Martens

Nicole Martens

Director, Martens Impact Advisory and Acting Head of Africa & Middle East, at UNPRI

I am passionate about sustainable development in general and about developing pragmatic and impactful strategies for Africa’s just transition to a low carbon economy in response to the climate emergency.

As a Development Economist, I have dedicated my career to the provision of strategic advisory services in the development space. I have worked with local and international clients across the public and private sector on the design and implementation of strategies aimed at achieving large-scale developmental impact. My work includes a special focus on the identification of innovative finance mechanisms for generating financial return and impact, specifically with reference to integration of environmental, social and governance (ESG) factors into investment processes i.e. responsible investment.

In recent years, my focus has been on identifying and addressing the needs of African investors with respect to integrating ESG into investment processes in an effort to foster the maximisation of long-term sustainable financial returns across the continent. I have specialised in the initiation and management of key stakeholder relationships and partnerships across the region, including those with investors as well as with policymakers and regulators, academic institutions and mission driven organisations.

My work has included the design and roll-out of initiatives to build capacity amongst investors and other organisations on ESG integration and responsible investment approaches – specifically, developing content for and then facilitating workshops, webinars and online learning tools.

I currently sit on a number of committees and working groups where I provide insight on international trends and developments with respect to responsible investment and represent the needs of African investors in this regard. These include:

UNPRI

Olivier Nicolas

Olivier Nicolas

Vice President, Structured Finance / International Banking

SMBC

Olivier Nicolas

Olivier Nicolas

Vice President, Structured Finance / International Banking at SMBC

Olivier has 10 years experience in project finance with strong expertise in financial advisory to both state procurers and corporates in the Power, Renewable & Infrastructure space.

Olivier started his career at Natixis in Paris before moving to HSBC New York in 2012 where he spent the next three years working on project and export finance transactions in the US and Latin America. Olivier later moved to Dubai with HSBC before joining the SMBC Power & Infrastructure advisory team in 2016.

Since his move to the UAE, Olivier worked on landmark advisory mandates to both GCC procurers and international and regional corporates – in particular, Olivier is acting as Lead and Financial Advisor to the KSA Ministry of Energy (REPDO) in respect of the National Saudi Renewable Energy Program since 2017.

Olivier holds an MSc in Structured and Project Finance and a Bachelor degree in Industrial Engineering, both from Ecole des Ponts ParisTech, France.

Key recent experience

•Advisor to the KSA Ministry of Energy (REPDO) on Round 3 of the KSA Renewable Energy Program – 1.2GW Solar PV (KSA/ongoing)

•Advisor to the KSA Ministry of Energy (REPDO) on Round 2 of the KSA Renewable Energy Program – 1.5GW Solar PV (KSA/ongoing)

•Advisor to Sponsors on the world’s largest Waste to Energy plant – 1.8 mtpa Warsan WtE (Dubai/ongoing)

•Advisor to the KSA Ministry of Energy (REPDO) on the first GCC utility-scale Wind IPP – 400MW Dumat Al Jandal (KSA/2019) – PFI Middle East Renewables Deal of the Year 2019

•Advisor to the KSA Ministry of Energy (REPDO) on the first KSA utility-scale solar PV IPP – 300MW Sakaka (KSA/2018) – PFI Middle East Power Deal of the Year 2018

•Advisor to Sponsors on the first GCC Waste to Energy plant – 300 ktpa Sharjah WtE (Sharjah/2018) – PFI Middle East Clean Energy Deal of the Year 2018

•Advisor to Bidders on the 200 MiGD Taweelah RO IWP bid tendered by EWEC (Abu Dhabi/2018)

•Advisor to Bidders on the 100MW Al-Jouf / Rafha solar PV IPP bid tendered by SEC (KSA/2017)

•Financial Advisor to the ENEC on the 5.6 GW Baraka Nuclear power plant (U.A.E./2016)

•Financial Advisor to KAPP on the 280 MW Al Abdaliyah ISCC plant (Kuwait/2016)

•Structuring Bank to Mazoon Petrogas (Day-to-day Execution and Financial Modelling) on a Reserve Based Lending (Oman/2016)

SMBC

Olivier Nicolas

With over four centuries of history and rooted in the stability of Japan and growth of Asia, SMBC Group reaches out around the world to provide the advice, connections and support that create value. Our customers in Africa and MENA choose SMBC Group because we offer local knowledge and global expertise.

With one of the most extensive domestic and international branch networks of any Japanese bank, SMBC Group uses the strength of its extensive footprint with powerful capabilities in loan and debt capital markets, project and trade finance, and a wide range of other financial services to deliver customer-focused, integrated solutions.

African & MENA customers benefit from SMBC Group's position as a world leader in loan capital markets bookrunning and arranging of loan facilities, including structuring, pricing, advising, executing and distribution of syndicated loans. A specialist debt capital markets team can provide expert advice and execution in core markets for public and private bond issuance, and offer issuers with guidance through the process from structuring, documentation and legal requirements, to execution of relevant funding solutions and investor relations. Particular focus is dedicated to corporate and structured finance and emerging market benchmark transactions for distribution to an international investor audience.