Euronext // 2021 Universal Registration Document
Empower Sustainable Finance
Euronext’s five ESG Impact Areas and the Sustainable Development Goals
FIG 4: ESG BONDS LISTED PER ISSUER TYPE Issuer types listed on Euronext include government, supranational, corporate, financial, sovereign and ABS issuers. Government issuers account for the largest issuance amount with €256 billion outstanding issuance amount followed by supranational with €180 billion outstanding issuance amount. France Emprunt d’État is Euronext’s largest green bond issuer with over €34 billion in issuance outstanding and listed on Euronext Paris. Euronext ESG bonds listed by corporates include Acciona, ENEL, ENGIE and SNAM. Financial issuers include BBVA, ING, KBC, BPCE, Société Générale and BNP Paribas. Government issuance is predominantly French and includes the regions “Ile de France”, Ville de Paris, Region Wallonne, Agence FSE de Dévelopement, SNCF Réseau, RATP, Société du Grand Paris and EDF. Vasakronan is a Swedish government entity and is Euronext’s most frequent issuer with 97 bonds listed in both Dublin and Oslo. Asset-backed security (“ABS”) issuance grew significantly in 2021 with issuance amount of €9.3 billion compared to €0.5 billion in 2020.
100 150 200 250 300 350 400 450 500
350,000
Issuance amount
Nb of bonds
300,000
250,000
200,000
150,000
100,000
50,000
0 50
0
3
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
FIG 2: ESG BOND ISSUANCE ON EURONEXT MARKETS FROM 2012 TO 2021 ESG Bond issuance listed on Euronext markets totalled €298 billion through 2021, this represents a 44% increase on the €206 billion listed through 2020. The number of ESG bonds listed through 2021 also increased from 258 bonds in 2020 to 459 in 2021 - up 78%.
COMPETITOR ANALYSIS
343
150,686 329 bonds
Issuance amount
160,000
140,000
198
120,000
97 bonds 100,730
100,000
108
80,000
60,000
Euronext
Luxembourg
London
40,000
53 bonds
34 bonds 22,438
23,048
20,000
2 bonds
FIG 5: NUMBER OF ESG BOND ISSUERS LISTED (SOURCE: REFINITIV) The main competition for Euronext in the ESG bond listing space comes from the Luxembourg and London stock exchanges. As at end 2021, Euronext is the leading stock exchange in Europe for both the number of issuers with ESG bonds listed and the outstanding issuance amount of ESG bonds listed on each stock exchange. There were 343 separate issuers with ESG bonds listed on Euronext markets at the end of 2021 which compares favourably with the 198 on Luxembourg and 108 in London. Euronext is also the leading stock exchange for the listing of green bonds. At the end of 2021 there was €398 billion in outstanding issuance listed on Euronext markets versus €247 billion listed in Luxembourg and €74 billion listed in London. A.5 ESG Commodities Contribution The commodity sector is an important contributor to the global ESG agenda and in particular with regard to the sustainability criteria for the realisation of the transition. Euronext has a special position in the agricultural ecosystem in Europe. It serves the real economy by offering hedging tools to the whole industry and the supply chain to manage better their price risk exposure inherent to the agricultural sector. Its corn and rapeseed contracts are non-GMO since 2003.
1,000
0
Green
Social
Sustainability-Linked Sustainability
Transition
FIG 3: EURONEXT 2021 LISTINGS PER ESG BOND TYPE, IN € MILLION There was a 77% increase in social bond listings in 2021 with 53 bonds listed compared to 30 bonds in 2020. The trend to list green bonds continues with 71% increase in green bonds listings in 2021 with 329 green bonds listed vs 192 in 2020. Euronext’s dependence on green bond issuance now forms 78% of total issuance down from 86% at end 2019.
250,000 200,000
50,000 100,000 150,000
in € bn 0
Government
Supranational
Corporate
Financial
ABS
Sovereign
83
2021 UNIVERSAL REGISTRATION DOCUMENT
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