2021 Environmental Social & Governance Report


SUPPORTING OUR CLIENTS WITH CAPITAL AND EXPERTISE


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SUPPORTING OUR CLIENTS WITH CAPITAL AND EXPERTISE
The low carbon transition is a focus for our banking teams, and we continue to build our ability to provide tailored 
advice and solutions to our clients as they adapt and grow their businesses in a changing world. Whether a client is 
working to transition their business model and operations to reduce emissions, or to develop and grow new 
technologies or solutions to help address the climate challenge, our objective is to use our capital and expertise to help 
them succeed. As we expand our capabilities, we are able to provide clients with increasingly diverse and innovative 
solutions, while helping to grow the market for green and sustainable financing. 
For example, in October 2021, we acted as Joint Placement Agent on a $1 billion equity placement to capitalize a new 
passenger EV subsidiary for Tata Motors. Recognizing the potential and capital needs of the passenger EV business, 
the transaction was designed to attract investors seeking exposure to this segment and enable Tata Motors to 
accelerate its plans.
As another example, in June 2021 we acted as Active Bookrunner on a $1.5 billion green bond offering by NextEra 
Energy. NextEra owns and operates two businesses – Florida Power & Light, the largest utility in the U.S., and NextEra 
Energy Resources, the world’s largest generator of renewable energy from wind and solar – which are working together 
toward a goal of reducing NextEra’s emissions 67% by 2025 from a 2005 baseline. The bond, proceeds of which will be 
used to support a portfolio of renewable energy generation and storage projects, uses a mechanism to encourage 
transparency and accountability, by providing a coupon step-up if the company fails to produce certification of 
allocation and impact within two years and 60 days of issuance.
This work is further highlighted by the green objective of our Sustainable Development Target, which aims to finance 
and facilitate $1 trillion through the end of 2030 towards the deployment of solutions for cleaner sources of energy and 
supporting the transition to a low-carbon, sustainable economy. This includes transactions supporting renewable 
energy, clean technology, water and waste management, conservation, sustainable transportation, green buildings and 
energy efficiency. For more information on our progress toward our Sustainable Development Target and examples of 
qualifying green transactions, see page 8.

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