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Toxic Bonds Network demands to financial institutions

The Toxic Bonds Network has the following demands.


Asset owners and asset managers must:

  • Adopt coal, oil and gas policies that immediately stop all new investments in companies expanding fossil fuel output and infrastructure. These policies must cover passive holdings and third-party assets.
  • Divest from bond holdings in fossil fuel companies, unless the company has demonstrated proof of no new fossil fuel output / infrastructure and announces a complete phase-out strategy aligned with principles of equity, a 1.5.˚C timeline that is certified by globally recognised science-based professionals and in alignment with the goals of the Global Biodiversity Framework (GBF).
  • Put pressure on the top three credit rating agencies to reflect companies’ impact on the environment and ensure climate, environmental and social risks, including assessment of potential stranded assets, is well-integrated into credit ratings.
  • Fully and publicly disclose aggregate corporate bond holdings by industry sector code, including scope 1, 2 and 3 carbon emissions and nature related impacts associated with these holdings.
Engagement and stewardship
Green bonds
Sustainability-linked bonds