Your morning coffee briefing from TFG. Boris Johnson warns there is ‘huge way to go’ at COP26. Rishi Sunak announces new UK budget. New podcast episode with Pole Star and  CarbonChain on partnership. SMEs need $50tn investment to meet global net zero goals, says new HSBC, BCG report. And TFG hears from ITFA’s Paul Coles on Structured LCs, MRPAs and the LIBOR transition.

Boris Johnson warns G20 deal leaves ‘huge way to go’ at climate summit

British prime minister Boris Johnson has warned there is “a huge way still to go” at the COP26 climate summit, after G20 leaders agreed to stop financing coal power overseas but not to phase it out at home. Read more →

UK budget: Sunak promises action on HGV crisis, shipping and tonnage tax, warns of further inflation

British Chancellor Rishi Sunak today presented his Autumn Budget of 2021 to the UK House of Commons. Among its key features for trade finance, Sunak promised action on the UK’s HGV crisis, and new changes in shipping and tonnage taxes. Read more →

PODCAST: Pole Star, CarbonChain partnership delivers single-service sustainability, compliance solution

On the eve of COP26 – the biggest climate summit of the year – the world is more focused than ever on reducing carbon emissions, and on the role that individual companies can play in tackling climate change. Read more →

SMEs need $50tn investment to meet global net zero goals, says new HSBC, BCG report

A joint white paper, released today by HSBC and Boston Consulting Group (BCG), found that up to half of the $100 trillion investment needed to deliver net zero supply chains will have to be directed towards SMEs. Read more →

South Africa’s Standard Bank chooses Flutterwave for Africa digitalisation drive

South Africa’s Standard Bank has launched a new digital payments partnership with Africa-based fintech Flutterwave. Read more →

BNP Paribas executes green repurchase agreement (repo) with EDF

French international bank BNP Paribas has executed a green repurchase agreement (repo) transaction with state-owned utility company Électricité de France (EDF).  Read more →

UK gov’s CDC Group agrees $30m trade loan to Bangladesh’s Prime Bank

The loan facility, which will enable Prime Bank to extend more foreign currency trade credit at longer tenors to local businesses, is expected to generate up to $60 million in additional trade each year in sectors such as manufacturing, garments, and food and agriculture. Read more →

VIDEO: ITFA market practice update – Structured LCs, MRPAs, the LIBOR transition

The world’s most important number is changing, and traders need to be aware of its implications. Read more →