Sustainability-Linked Bonds (SLB) are financial instruments with powerful potential to support the climate transition of corporates and governments. Our academic and market-based research provides investors with models and tools to construct and invest in SLBs with ambitious targets.
In this report, we separate an analysis of SLB structures into discussions around materiality and ambition.
On 8 April, South Korea issued a request for proposal for an off-shore bond: AFII proposes a sustainability-linked structure based on the issuer’s decarbonisation targets.
Sustainability Performance Target miss leads to 12.5bps step-up
Retail giant offers investors green, vanilla, and SLB debt in three-tranche deal
"Transition-linked bond" lacks materiality of an enhanced SLB
"Transition-linked bond" lacks materiality of an enhanced SLB
PKN Orlen’s upgraded ESG rating reverses an earlier SLB coupon step-up.
Snam’s recent SLB includes targets for Scope 3 emission reductions. We analyse the completeness of its commitments.
PPC’s Jan 2024 capital market day revealed strong coal decommissioning, with implications for SLB investors.
We show how Japan’s Climate Transition Bond could be complemented with an SLB, to boost its green credentials
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