BAFT, the leading global financial services association for international transaction banking, 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 of international policy at 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 Mayer, Royal Bank of Canada BAFT intends to update the document as industry developments occur. Re-disseminated by The Asian Banker
