Q2 2025 Sustainable Finance Update
Join us for this webinar where Moody's analysts will dive into key topics related to the sustainable finance market. We will kick off with a deep dive into the key drivers of sustainable bond issuance in the first quarter of the year and share our views on how issuance will evolve throughout the year. This will provide a comprehensive understanding of the current sustainable debt landscape and the market’s future trajectory. We will also turn our attention to these key questions:
- How are broader geopolitical and macroeconomic factors likely to affect the issuance of sustainable bonds during the remainder of 2025?
- How are banks responding to evolving company and investor demands?
- How are issuers accessing an evolving suite of sustainable and transition finance solutions to communicate with market stakeholders?
- What do Moody’s SPOs and NZAs reveal about the quality of sustainable debt frameworks and corporate decarbonization plans?
Speakers
Swami Venkataraman, CFA
Associate Managing Director, Sustainable Finance, Global Head of Assessments
Moody's Ratings
Elena Burdykina
Managing Director, Energy & Carbon Intensive Sector Lead, Sustainable Investment Banking
Crédit Agricole CIB
Nicole Della Vedova
Executive Finance Director
Snam
Matt Kuchtyak
Senior Vice President - Sustainable Finance, Head of Assessments, Americas
Moody's Ratings
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Swami Venkataraman, CFA, is an Associate Managing Director in the Sustainable Finance group at Moody's Ratings. He manages a global team of analysts responsible for producing assessments and thematic research on the credentials of sustainability debt instruments and financing frameworks (Second Party Opinions) and the strength of entities carbon transition plans (Net Zero Assessments). He also leads related outreach efforts for Moody's with regulators, standard setters, investors, corporates and other market participants.
Swami regularly participates in high-profile working groups, conferences and media engagements. He is a member of the International Energy Agency's Finance Industry Advisory Board, the Institute for International Finance's (IIF) Sustainable Finance Working Group, the Executive Committee of the ESG Integrated Disclosure Project (IDP) for private capital markets and manages key external relationships for Moody's such as the International Sustainability Standards Board (ISSB), Glasgow Financial Alliance for Net Zero (GFANZ) and Ceres. He has presented on climate finance topics at the 2022 UN Climate Change Conference (COP27) and at various initiatives of the World Bank.
Prior to this role, Swami led the team responsible for the systematic integration of ESG considerations - including climate - into all Moody's credit ratings and the launch of the Moody's Issuer Profile Scores (IPS) and Credit Impact Scores (CIS). Earlier, he was a Senior Vice President in the North American utilities and infrastructure team, with rating committee chair responsibilities. Before Joining Moody's in 2013, Swami was a Director of Project and Export finance with Standard Chartered bank in Asia. He has broad credit and banking expertise in power, clean energy, infrastructure and sustainable finance for over 25 years. He has worked in New York, San Francisco, London, Mumbai and Mexico City.
Swami is a CFA charter holder, with a B.Tech in Electronics Engineering from the Indian Institute of Technology (IIT), Madras and an M.B.A. in Finance and Information systems from the Indian Institute of Management (IIM),Calcutta.
Elena joined CACIB Sustainable Investment Banking Team in Paris in 2021 as the Sector Lead for Carbon Intensive sectors incl. Energy related sectors, Oil & Gas, Metals & Mining, Chemicals and Cement. Under her leadership, the Carbon Intensive team handles the overarching Sustainable Advisory mandates across all asset classes and across all European Geographies.
Prior to joining Sustainable Investment Bank Elena has spent around 15 years in CACIB M&A, ECM and Project Finance advisory originating and executing cross-border transactions for large industrial players focusing on Oil & Gas, Utilities, Steel & Mining, Fertilizers and Chemicals.
Before that Elena has had various positions in Corporate Finance and Corporate Treasury in international commodity trading companies.
Elena holds the International Relations degree from Voronezh State University and Financial Management degree from Moscow HSE.Unquote
Nicole Della Vedova is the Executive Finance Director at Snam, where she manages a broad spectrum of financial activities including treasury, financial planning, debt management, structured finance, public finance, and risk management.
With over 15 years of experience in the finance industry, Nicole has proven track record of driving financial strategy and optimizing financial performance.
Nicole began her career at Accenture, before assuming significant roles at Eni and Maire Tecnimont. In 2016 she joined Enel SpA as Head of Group Capital Markets, within Finance & Insurance department. Over the past eight years, Nicole has held positions of increasing responsibility at Enel, where she served as Head of Corporate and Structured Finance, leading capital markets activities, public finance, and structured finance.
She is recognized as a leading expert in the Sustainable Finance space, and she participated in the drafting of the Sustainability-Linked Bond Principles released by the International Capital Market Association (ICMA). For her contribution to the sustainable finance market, she has been appointed as a Member of the Platform on Sustainable Finance for its second mandate by the European Commission.
Nicole graduated in business and finance at Bocconi University of Milan. She is also a member of the International Capital Market Association (ICMA) and of the ICMA Women’s Network (IWN).
Matt Kuchtyakis Senior Vice President –Sustainable Finance for Moody’s Ratings. In this capacity, Matt heads the Sustainable Finance Assessments team in the Americas, leading a team of analysts primarily responsible for the publication of Second Party Opinions (SPOs) –which provide an opinion on the overall sustainability quality of financial instruments or financing frameworks –and Net Zero Assessments (NZAs) –which provide an independent and comparable view on the strength of an entity’s carbon emissions reduction plans compared to a global net zero pathway.
In his role, Matt is also responsible for the origination and publication of thematic research related to the global sustainable finance markets. He also leads outreach and engagement on sustainable finance issues, cultivating relationships with investors, intermediaries, issuers and other market participants. He frequently participates in high-profile outreach including investor briefings, webinars, third-party conferences and media engagements. Matt also represents
Moody’s Ratings on a variety of industry initiatives, such as the International Capital Market Association’s sustainable finance working groups.
Before his current role, Matt was an analyst on the ESG team at Moody’s Ratings, where he advanced the rating agency’s efforts to incorporate ESG considerations systematically and transparently into its credit ratings. He was a key contributor to the development of the cross-sector ESG methodology, launch of the ESG Issuer Profile Scores and Credit Impact Scores and the development of the Carbon Transition Assessments. He was also the lead analyst for the Moody’s Ratings Green Bond Assessments. Previously, Matt was a credit analyst in the US Public Finance Group, where he served as a lead analyst for a diverse portfolio of hospitals, public and private universities and other not-for-profits.
Matt holds a B.A. in Economics and Political Science summa cum laude from Rutgers University-New Brunswick and is a member of Phi Beta Kappa