Regulators want Additional Tier 1s (AT1s) to be more like equity. Would bond investors buy them?

While glimmers of hope existed, COP30 was chiefly marked by a lack of progress. Proposed emissions reductions were estimated to fall well short of requirements, while a fossil fuel phase-out and the finalisation of the deforestation roadmap failed to materialise, possibly reflecting the increased difficulty of negotiating in a more fragmented, multipolar world.

Public finances and traditional investment solutions are pressured by the current economic environment, leading to a renewed interest in private infrastructure investment opportunities. These infrastructure opportunities offer exposure to essential real and tangible assets.