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Esg and the Muni Market: Focusing the ESG Lens on Munis

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  • 16 Pages
  • October 2021
  • Region: Global
  • Arizent
  • ID: 5715064
Although environmental, social and governance (ESG) investment considerations have grown around the globe, the U.S. municipal securities market is just beginning to delve into the space in varying degrees.

Market participants, from the world’s largest asset managers to ratings agencies and from technology and data providers to state and local government issuers, are focusing on ESG - climate change, social justice and green bonds.

But incorporating ESG into the municipal industry is complex and opinions on how to or even whether to take part vary to a large degree depending on the vantage point from where the participant sits. How various participants navigate ESG in the municipal industry is made more difficult by the $4-trillion, 50,000-issuer, geographically and culturally diverse marketplace itself.

Table of Contents

  • Introduction
  • Research methodology
  • ESG growth in public finance
  • Breaking down the E, S and G
  • Fitting the regulators into the equation
  • Ratings, third-party ESG designations and self-designation
  • Harnessing (potential) pricing power
  • A broader, global investor is pushing ESG demand
  • How to tell the muni ESG story - A universal language?
  • Conclusions