Mirova Green Fund exits Philippine sustainable bonds after corruption scandal

8 articles · Updated · Bloomberg · Apr 29

The €1.4 billion Global Green Bond Fund sold all Philippine debt holdings, less than 1% of its assets, during December and January.
The exit follows revelations that flood-control projects financed by the bonds are under graft investigation, raising investor concerns about unintentional involvement in corruption.
Most of Mirova’s green bond investments remain in Europe, while the Philippine scandal highlights risks for global funds in emerging markets.

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