Sub-sovereign debt

While sub-sovereign issuers vary greatly, they often need funding to finance public services and infrastructure, which have a clear link to ESG outcomes. Investors are increasingly — and systematically — incorporating ESG factors into their risk assessment of local authorities’ debt, as well as recognising the important role that sub-sovereign entities can play in achieving sustainable and resilient growth.

The PRI would like to thank the advisory committee for its support. Contact us if you have questions.

Latest report

Sub-sovereign hero

ESG Integration in Sub-Sovereign Debt: The US Municipal Bond Market


Momentum is building for investors in US municipal bonds to incorporate environmental, social and governance factors systematically in their analysis and valuations, however they face multiple challenges.


US municipal bonds

US municipal bonds: ESG investors play catch up


By Carmen Nuzzo, Head of Fixed Income, PRI, and Jasper Cox, Investment Practices Analyst, Fixed Income, PRI


ESG integration in the US municipal bond market

ESG Integration in the US Municipal Bond Market


This webinar will present the main findings from ESG Integration in Sub-Sovereign Debt: The US Municipal Bond Market, the first in a series of reports examining this unique and diverse market segment.