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Goldman Fund Unit Steps Up Rejections of ESG Debt Pitches (1)

July 1, 2022, 1:36 PM

NN Investment Partners, an asset manager owned by Goldman Sachs Group Inc., is rejecting a bigger proportion of the green bonds pitched to it as the market for such products swells and fund managers get pickier.

“We have about a 30% rejection rate at the moment for the bonds that are of interest to us,” Isobel Edwards, a green bond analyst at NN Investment Partners in the Netherlands, said in an interview. That figure generally “goes up slightly each year,” she said, partly because the green bond market is growing but also due to the application of “higher standards ...