Summary

Opening remarks and an overview of the agenda were provided by the SSE. The speakers for the webinar were welcomed and the SSE began with a brief presentation on COVID-19 response bonds, highlighting how they have boosted the issuance of social and sustainability bonds. The presentation looked at some examples of issuers and use of proceeds, and how various social and sustainability bond frameworks have been used by issuers. 

Presentations from the London Stock Exchange and the Luxembourg Stock Exchange (Luxembourg Green Exchange) outlined how the exchanges have supported issuers, provided an overview of the social bond markets as well as in-depth examples of some COVID-19 social and sustainability bonds, and looked at the role that blended finance, green investment and social and sustainability bonds will play in a sustainable recovery. The presentation from IFC’s explored the ICMA Social Bond Principles and the IFC’s experience as a social bond issuer. 

On both calls, there was a Q&A after the presentations. A popular topic for questions was the labeling and verification of social and COVID-19 bonds, with participants asking whether exchanges accepted non-labeled bonds, whether social bonds command a premium, and how the use of proceeds of social bonds are verified. Other questions related to the secondary market for social bonds and comparisons between the ratings, prices, and conditions for issuing social versus conventional bonds.  

The final agenda item featured SSE Secretariat updates, including: news on the 2020 Ring the Bell for Gender Equality events which featured participation by 73 exchanges despite the circumstances of the pandemic; upcoming research on derivatives markets and the carbon intensity of markets; and a reminder that the SSE Global Dialogue is scheduled to take place on 7 December 2020 in Abu Dhabi, circumstances of the pandemic permitting.

• Webinar slides