Firms Scrub Dirty Bonds Off Books to Boost ESG Credentials – Bloomberg

A new trend is emerging in the world of ESG as companies turn their attention to cleaning up old debt. They’re either buying back conventional notes, which could finance just about anything, or transforming old securities to green. Italian utility company Enel SpA is leading the charge in buybacks with the largest one to date:…

New York State Pension Fund Makes $800 Million Bet on ESG Credit – Bloomberg

The New York State Common Retirement Fund put $800 million in sustainable fixed-income strategies this year, including sustainable private credit and green bonds, a rare big bet on debt in the equity-dominated market for responsible investing. The $210.5 billion public pension fund said it invested $300 million in Avenue Capital’s new Sustainable Solutions Fund, which…