Impact Investing in Fixed Income Assets: Profits That Protect

credit:

Nuveen, one of the world's largest asset managers, has just become the first company to sell a bond linked to social and environmental outcomes, the Guardian reports.

The $1 billion issue, which closed last week, is part of a growing market of so-called impact bonds, which seek to make a positive social or environmental impact by investing in projects that increase access to clean drinking water, reduce greenhouse gas emissions, or boost the supply of affordable housing.

According to Bloomberg, impact bonds are growing at a compound annual growth rate of 9.5% from 2022 to 2031, and Nuveen is one of the biggest players in the market.

"In order to drive significant amounts of capital towards positive environmental and social outcomes, we cannot sacrifice performance," Nuveen's portfolio manager says in a press release.

The bonds, which are linked to carbon credits, are expected to reduce greenhouse gas emissions by more than 3 million tons of carbon dioxide over the next five years, as well as make clean drinking water available to 2 million children in Vietnam.

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