Category

ESG

Capital MarketsCash & Working CapitalESG
October 27, 2020

Why Parking Cash on the Balance Sheet May Trump Bigger Revolvers

Key takeaways from the NeuGroup for Capital Markets 2020 H2 meeting, sponsored by Deutsche Bank. By Joseph Neu Bond issues are the new RCF.  Discussion on the topic of how to divvy up extra liquidity in terms of cash on the balance sheet vs. a bigger revolving credit facility (RCF) yielded the recommendation that most firms with the ratings capacity are better off issuing bonds and parking cash on their balance sheet. The bond market is supportive, and bank credit…
Justin Jones
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Capital MarketsESGTechnology
October 22, 2020

A Homegrown ESG Dashboard in Search of Better Data

A tech company builds its own tool to get a holistic view of ESG ratings but bemoans social data quality. Many companies in the NeuGroup Network are devoting significant resources to better address environmental, social and governmental (ESG) issues that are increasingly critical to how investors and other stakeholders view corporates. But not many treasury teams have access to an ESG dashboard, something one member who works at a large technology company described to peers at a recent meeting of…
Justin Jones
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BankingCapital MarketsESG
October 15, 2020

A Virgin Bond Deal, Community Investment and Frustration With Banks

Takeaways from the Tech20 High-Growth Treasurers’ Peer Group 2020 H2 meeting, sponsored by Bank of the West / BNP Paribas. By Joseph NeuWanted: A better bank user experience. The user interface (UI) and user experience (UX) is a key success driver for high-growth technology companies. So when their banks fail to deliver a quality UI/UX, growth tech treasurers get frustrated. Work from home, of course, has made what used to be digital nice-to-haves into must-haves. Electronic bank account management (eBAM) promises…
Justin Jones
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ESGInvestment Management
October 6, 2020

Impact Investing: Supporting Underserved Communities with Customized Loans

RBC’s customized investments help corporates reach specific groups and areas. Increased attention on persistent racial disparities in wealth, income and home ownership in minority communities is motivating many corporates to look for new ways to make a difference through investments and deposits. At a recent Visual Interactive Session, one NeuGroup member described the benefits of impact investing using a tailored and targeted approach offered by RBC Access Capital, part of RBC Global Asset Management. “With the RBC team, we were able to develop…
Justin Jones
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BankingCapital MarketsESG
October 6, 2020

A Green Bond Deal With Environmental and Social Benefits

Founder’s takeaways from the Treasurers’ Group of Mega-Caps 2020 H2 meeting. By Joseph Neu A green bond that moves the needle on E&S. One member shared insight from his company’s recent green bond offering that included a pair of African-American-owned investment banking firms among the four lead underwriters.   Not only is this member company breaking new ground with its second green bond, leveraging the experience and reporting infrastructure established with the first, but it is paving the way for further diversity firm involvement in this important issuance segment by…
Justin Jones
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Cash & Working CapitalESG
October 1, 2020

Dangling Carrots in Supply Chain Finance to Boost Sustainability

HSBC’s SCF incentives help a big retailer make progress on sustainability goals.The pandemic has prompted companies to pay more attention to their supply chains, to support key suppliers and make them more resilient and sustainable. A recent HSBC survey found that 70% of companies want to improve control over supply chains, half seek more transparency, and a third want to accelerate making them more environmentally sustainable, planning investments over the next 12 to 18 months to do so.The assistant treasurer…
Justin Jones
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ESGTreasury Management
October 1, 2020

Tough Love Is What You Want From a Career Sponsor

Takeaways from the latest Women in NeuGroup event, sponsored by Deutsche Bank.Women—and men—who seek sponsorship to help them advance professionally should expect the relationship—if it’s a good one—to involve some tough love. That insight was among the key takeaways from a Women in NeuGroup virtual meeting held this week. Sponsorship is not mentorship. Tough love is one way to distinguish sponsors from mentors—a difference addressed at the spring WiNG event as well. While mentors may offer you a shoulder to…
Justin Jones
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BankingESG
October 1, 2020

Talking Shop: Exploring Minority Bank Deposits Amid Increased Public Interest

Question: “Minority bank deposits: Is your organization active or exploring given increased public interest?”  “I’m looking to connect with those with experience in this area and discuss best practices. In addition, I’m looking to identify contacts at any recommend .” The member included a link to a Fortune article, which discusses Black-owned financial institutions amplifying the call for racial justice by drawing more private capital into their communities.  Peer Answer: “Hi, we are close to finalizing agreement/structure with a start-up (CNote) which…
Justin Jones
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Accounting & DisclosureESG
September 29, 2020

SOX-Like Framework Needed for ESG/Sustainability Disclosures

Moving ESG/sustainability information from the web to the 10-K warrants attention.By Joseph NeuMembers of our group for treasurers at mega-cap companies recently heard a partner from the law firm White & Case share the findings of the firm’s latest annual survey of ESG disclosures in SEC filings by the top 50 companies by revenue in the Fortune 100. The presentation built on a topic raised by the head of ESG at a member company in a NeuGroup session last month. …
Justin Jones
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Capital MarketsESG
September 15, 2020

Friedman, Profits and Treasury’s Role in Stakeholder Capitalism

50 years after Milton Friedman’s landmark essay on profits, treasurers are trying to embrace stakeholder capitalism responsibly.By Joseph NeuMilton Friedman’s essay, “The Social Responsibility of Business Is to Increase Its Profits,” turned 50 this past Sunday. Many commentators are seeking to mark the occasion with efforts to either square stakeholder capitalism with Friedman’s view—helping stakeholders is good for long-term profitability—or call him out as myopic to the more equal, inclusive and sustainable future that young people—and others—now want. Milton Friedman…
Justin Jones
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