Sustainability-Linked Bonds

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.

JERA: An enhanced SLB proposal for ambitious transition

29/02/2024

"Transition-linked bond" lacks materiality of an enhanced SLB

Here we go Orlen: SLBs step back down

28/02/2024

PKN Orlen’s upgraded ESG rating reverses an earlier SLB coupon step-up.

The Forensic Carbon Accountant: Snam SpA SLB

26/02/2024

Snam’s recent SLB includes targets for Scope 3 emission reductions. We analyse the completeness of its commitments.

PPC: Coal decommissioning success impacts SLBs

19/02/2024

PPC’s Jan 2024 capital market day revealed strong coal decommissioning, with implications for SLB investors.

日本のサステナビリティ・リンク・ボンドのプロポーザル (Japan SLB: Japanese version)

15/02/2024

We show how Japan’s Climate Transition Bond could be complemented with an SLB, to boost its green credentials

Transition power, a JGB SLB, prints in USD

07/02/2024

We show how Japan’s Climate Transition Bond could be complemented with an SLB, to boost its green credentials

Factories emitting pollution.

Adani’s SLB: Likely to meet its weak targets

06/02/2024

The electricity provider AEML's SLB should be considered in the context of the wider Adani Group strategy on coal.

A financial analyst’s Bloomberg keyboard layout.

STT GDC issues a Sustainability-Linked Perpetual

23/01/2024

STT GDC’s sustainability-linked perpetual issuance shows its commitment to sustainable financing

Enel SLBs: Q3 results off-track for 2023 target

23/11/2023

Enel's Q3 results show that its 2023 emissions intensity target will be challenging to achieve

Novartis SLB: twin bond divergence

22/11/2023

We review pharmaceutical giant Novartis' Sustainability-Linked Bond

A row of wind turbines at dawn.

SLBs: a summary of 2023 targets

15/11/2023

Ten SLB issuers, and twenty bonds, will observe their KPIs in 2023

Enel SLBs: market update

08/11/2023

A market update on Enel's SLBs performance, following our October analysis