WASHINGTON – BAFT, the leading global financial services association for international transaction banking, today released a new white paper, Transaction Banking Sustainable Finance Product and Reporting Matrix. The paper provides guidance on transaction banking sustainable finance products currently being offered to both corporate and financial institution clients.
The reporting matrix is intended to capture, consolidate and display in a simplified, readable format the industry best practice for labeling sustainable finance transaction banking products. Similarly, it highlights the types of reporting necessary for each type of ESG-labeled product.
“The transaction banking industry needs more refined standards tailored to our specific products,” said Andy Price, vice president, international policy, BAFT. “Our hope is that this matrix will serve as a starting point for framework development and ultimately, improve the design of sustainable finance transaction banking products.”
“We believe this resource is the first of its kind, specific to the transaction banking industry, and can be used by transaction banking practitioners and clients looking to further educate themselves on what is currently available in the market, as well as novices looking to learn more about sustainable transaction banking best practices”, said Anna Plewinska-Pijl, director, FI transaction services Europe, ING .
The white paper and reporting matrix were completed with the help of BAFT’s working group on sustainable finance, as well as several industry professionals, including:
- Nataša Kovač, ING
- Natasa Pudic, ING
- Anna Plewinska-Pijl, ING
- Dorene Martinez, BNP
- Kaushik Mukherjee, Wells Fargo
- Laura Wilson, Investec
- Maxwell Chesky, MUFG
- Chithra Badri, CICB
- Riaan Meyer, Royal Bank of Canada
BAFT intends to update the document as industry developments occur. Click here to read Transaction Banking Sustainable Finance Product and Reporting Matrix, or visit BAFT’s Library of Documents under BAFT Guidance and Industry Practice section at www.BAFT.org.
About BAFT
BAFT, the leading global financial services association for international transaction banking, helps bridge solutions across financial institutions, service providers and the regulatory community that promote sound financial practices enabling innovation, efficiency, and commercial growth. BAFT engages on a wide range of topics affecting transaction banking, including trade finance, payments, and compliance.
BAFT Media Contact:
Blair Bernstein
Senior Director, Public Relations
[email protected]
+1 (202) 663-5468
