JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches

Posted on June 28th, 2022 at 3:03 PM
JP Morgan Manager Reveals Issues Regarding ESG Loan Pitches

From the Desk of Jim Eccleston at Eccleston Law:

The market for sustainability-linked loans is still severely prone to “greenwashing”, or investing more time and effort into marketing itself as environmentally friendly rather than actually minimizing its environmental impact, according to one of J.P. Morgan’s managers who often helps to sort through debt that is pitched to the company. 

J.P. Morgan is seeing a lack of consistency in the quality of ESG loan pitches, according to Andre Abadie, managing director at J.P. Morgan’s Center for Carbon Transition. Abadie additionally noted that many sustainability-linked loan pitches he reviews “aren’t really fit for purpose” while the market tends to be “a bit of a wild west.” Sustainability-linked debt continues to grow in popularity as the market for ESG debt may reach $15 trillion by 2025, according to Bloomberg Intelligence. 

Further, issuers typically view sustainability-linked debt as an easier method of entry into the market for environmental, social and governance products as opposed to green bonds, according to Abadie. J.P. Morgan introduced its Center for Carbon Transition in 2020 in an effort to help the firm align its business with the recommendations outlined in the Paris climate agreement. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, jp morgan, loan pitches

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