Credit Suisse and BofA are under renewed scrutiny after the International Capital Market Association (ICMA) issued new labeling guidelines for “blue bonds” to fund debt-for-nature swaps. Accurate labeling is crucial as it affects the larger sustainable debt market, estimated at USD 3 trillion. The bonds helped refinance over USD 1 bln in debt for Belize, Barbados, and Gabon over the past few years. Other banks like HSBC, Citigroup, Barclays, and Standard Chartered have shown interest in this growing field.