In the last decade, Reliance Industries has raised nearly $13 billion of ECA finance from a range of 14 OECD ECAs — making it one of the most prolific borrowers in the market. TXF spoke with Reliance's VP Vineyesh Sawhney about the company's project pipeline; its plan to tap the ECA market to finance those projects; its wish list for the industry; its approach to dealmaking and how ECA debt currently compares to other solutions available to Reliance.
Sustainability in trade has become a topic of crucial importance for all stakeholders, from financiers and multinational corporations to SME suppliers in emerging markets. New developments are enabling a greater understanding of the environmental, social and governance risks in the world’s supply chains. But translating this into action means harnessing data in new – and better – ways.
The recent ACEN ETM to retire the South Luzon coal-fired plant early attracted some controversy over its use of the ETM moniker. But the deal is more promising than was first apparent, although it may still struggle to influence transition finance outside its home market.
The LME has decided not to ban Russian metals. Is it the right move or tacit recognition that the pressures on commodities markets spawned by war, growing demand for energy transition materials and ESG compliance are becoming increasingly irreconcilable?