Join us on Tuesday, April 29, 2025, in New York for the Emerging Markets Investors Alliance (EMIA) Impact & Blended Finance Conference. The event, which is being co-organized by AllianceBernstein and Societe Generale, will be in person at 66 Hudson Blvd E, New York, NY 10001.

The conference will focus on emerging market aspects of impact and blended finance, including outcome bonds, debt-for-nature swaps, and challenges to scaling the asset class.

Click on the link to register: https://hubs.li/Q03hBBs50.

As more investors recognize the role that governance and transparency reforms can play in protecting their investments, the Emerging Markets Investors Alliance (EMIA) organized a working group of Emerging Markets fund managers to develop and operationalize a set of enhanced transparency covenants for EM sovereign bonds. With the assistance of Arnold & Porter, EMIA has drafted a set of Model Clauses for Transparency Covenants (linked below) that can be readily included in debt issued as part of EM sovereign debt restructurings. The clauses are meant to be a starting point for conversations among members of creditor committees interested in incentivizing greater transparency in sovereign lending. It is expected that creditor committees will tailor EMIA’s model clauses to fit particular country contexts and can select and choose among the clauses and related remedies to best incentivize good governance and improved outcomes for restructured sovereign debt.

(January, 2025)  The Emerging Markets Investors Alliance (EMIA) updated its Enhanced Labeled Bond Standards (ELBS). The ELBS offer guidance for emerging market labeled bonds to promote the development of a credible and sustainable labeled bond market that can make a meaningful contribution toward improved environmental, social, and governance (ESG) outcomes

(October 31, 2022) The Emerging Markets Investors Alliance (EMIA) today announced that the  Sovereign Sustainability Linked Bond 5.750% USD bond due in 2034 that was recently issued by the Government of Uruguay is fully consistent with EMIA's Enhanced Labeled Bond Principles.

China and other emerging markets are large and growing producers and consumers of steel and cement. These trends are supported by their growing economies and increasing urbanization, leading to investments in infrastructure and housing. Therefore, the decarbonization of these industries is particularly relevant for investors in emerging markets.

In this letter to the Board of Directors of the Extractive Industries Transparency Initiative (EITI), EMIA President Ashok Parameswaran encourages EITI to set disclosure standards for extractives companies that formally support EITI that are consistent with EITI’s standards for other stakeholders. We believe it is in the interest of EITI, as well as of investors that use its data, that supporting companies comply with EITI’s standards. We hope this letter will encourage the Board and EITI to maintain high levels of compliance regarding the transparency of payments by extractives companies to governments.

As of June 28, the IMF had approved $244 million in debt relief and $65 billion in emergency financing to low- and middle-income countries, despite estimating that these countries will have additional financial needs of $2.5 trillion. The Alliance has published a White Paper to foster cooperation among policy makers, government officials, and investors, and to move the discussion beyond the short-term provision of liquidity and toward longer term measures that promote fiscal and debt transparency, debt oversight, and environmental sustainability