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Green Bonds 101: Two Women Who Built the Market from Scratch
Episode Description
Green bonds sound simple until you try to separate the real ones from the 50 shades of green flooding today’s market.
This episode offers an insider framework to distinguish credible green bonds from greenwashing, understand what real additionality looks like in fixed income, and make more confident capital-allocation decisions in a label-driven market.
It revisits early conversations with Marilyn Ceci and Romina Reversi, leaders who helped build the green bond market before sustainable finance went mainstream. Both worked inside JP Morgan as issuers, investors, and regulators were still defining standards, reporting, and impact measurement.
You’ll hear how green bonds evolved from a niche experiment into a scalable fixed-income market, and what that evolution reveals about transparency, liquidity, and investor trust today.
This episode explores:
- Why green bonds became a strategic communication tool for issuers
- How disclosure itself was treated as impact
- What standards actually enabled scale and liquidity
- Why nuclear energy re-entered the green bond conversation
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Featured guests:
- Marilyn Ceci: Managing Director and Senior Advisor to the Center for Carbon Transition at JP Morgan and co-author of the Green Bond Principles
- Romina Reversi: former founding member of JP Morgan’s ESG DCM team, now Managing Director and Head of Sustainable Investment Banking Americas at Crédit Agricole CIB
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Listen Next:
- Full conversation with Marilyn Ceci
- Full conversation with Romina Reversi
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