Credit Suisse Issues 'Green' CDs
A press release entitled, "Credit Suisse issues inaugural Green Certificates of Deposit," tells us, "Credit Suisse today announces the successful inaugural issuance under its green finance framework, raising USD 200 million in proceeds in the form of green Yankee Certificates of Deposit ('YCD'). Given the growing interest from responsible and sustainability-driven investors in short-term money markets, Credit Suisse has issued green YCD in order to (re-)finance a portfolio of eligible green assets, while providing its investors with a debt instrument in the green finance space. This issuance builds on Credit Suisse's long-standing commitment to sustainable finance, exemplified by the establishment in 2017 of the Impact Advisory and Finance ('IAF') department. IAF aims to facilitate projects and initiatives that have a positive economic and social impact and generate a financial return. Reporting directly to the Chief Executive Officer, it coordinates activities across the Group. By enabling and advancing impact investing and sustainable business activities, IAF seeks to benefit wealth management, institutional and corporate clients." Marisa Drew, CEO, Impact Advisory and Finance department at Credit Suisse, comments, "Our inaugural green YCD issuance represents another exciting milestone for Credit Suisse in the green finance market and underscores our ambition to play a meaningful role in helping the world transition to a low-carbon economy. We are firmly committed to applying our expertise and innovation in the capital markets to help tackle climate change, all while helping our clients 'Generate returns. Sustainably'."
