“We did the first benchmark green bond, and it was there that the market really started to take notice of what we were doing. ”
— Marilyn Ceci
The world of finance has proven that it has the power to drive the global decarbonization effort and advance interest in ESG investments. Learn how this is happening with one of the architects of the Green Bond Principles.
Today’s guest is Marilyn Ceci, a titan in the world of sustainable finance. After realizing that med school wasn’t for her, Marilyn sought an opportunity at J.P. Morgan that would set her on a trailblazing path.
She started in interest rate sales, making her way to head of ESG debt capital market, and is now the managing director and senior advisor to the Center for Carbon Transition.
With over three decades of experience in the markets, Marilyn spearheaded ESG debt capital market growth and co-authored the Green Bond Principles, a cornerstone in the development and growth of the green bond market worldwide. She also steered J.P. Morgan to become the #1 Global Sustainable Bond Underwriter multiple years in a row.
Marilyn is a major force in driving the global sustainability agenda forward, earning her several awards, recognitions, and titles such as Wall Street’s Green Bond Warrior by Reuters and GlobalCapital’s Top Most Impressive Green/SRI Investment Banker.
In this episode, I dig into all the details of the beginnings of the Green Bond Principles and Marilyn’s unparalleled insights on their evolution and future. Marilyn also explains how green bonds differ from traditional bonds, their benefits, the role of bonds and fixed income in driving long-term ESG impact, and so much more.
Join me in this powerful discussion on the transformative power of green bonds and how Marilyn’s work contributes to sustainably financing the carbon transition.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. You can watch the interview on YouTube here.
What was your favorite quote or lesson from this episode? Please let me know in the comments.
SCROLL BELOW FOR LINKS AND SHOW NOTES…
SELECTED LINKS FROM THIS EPISODE:
- Connect with Marilyn Ceci: LinkedIn
- J.P. Morgan Center for Carbon Transition
- J.P. Morgan Carbon Compass Overview
- J.P. Morgan Carbon Compass Methodology
- J.P. Morgan’s 2023 Climate Report
- Planet Tracker Green Washing
SHOW NOTES:
[00:00] Episode introduction
[02:31] Meet Marilyn Ceci
[07:48] An overview of JP Morgan and their ESG debt strategy
[12:07] From interest rate sales to kickstarting the green bond market
[23:36] Incentives for issuing a green bond vs. a traditional bond & examples
[29:50] Insights on co-authoring the green bond principles & their evolution
[39:25] The role of bonds and fixed income in driving long-term ESG impact
[45:18] Supporting biodiversity, stakeholder engagement, & greenwashing
[51:27] Marilyn’s take on the new European green bond regulation
[55:14] Marilyn’s role at JP Morgan’s Center for Carbon Transition
[01:03:24] The future of fossil fuel-related projects at JP Morgan
[01:04:58] Experience with teaching at Duke University
[01:06:48] Rapid fire questions
MORE MARILYN CECI QUOTES FROM THE INTERVIEW:
“Trying to gain broader acceptance in the investor community on the value that transition assets will bring to the climate transition process is extremely important and we’re all working on it. ”
— Marilyn Ceci
“Early on in the green bond market, when we were developing the principles, it was absolutely critical to remind ourselves constantly that perfect was the enemy of good. We wanted to make sure that the approach we took was an approach that was credible but also provided flexibility. ”
— Marilyn Ceci
