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.

Contingent Resilience-Linked (CORL) bonds: combining public and private capital for resilience


We propose a new bond structure to increase private investment in sustainable development

Enel SLBs: update on 2023 observation date


Will Enel SLBs meet their Sustainability Performance Targets?

Pilgrim's Pride: tender-ising the meat bond market


Pilgrim’s Pride’s issuance aims to assuage future financing concerns associated with deforestation

Nordea SLLB: driving for a sustainability-linked future


We discuss Nordea's innovative Sustainability-Linked Loan structure

Le SLB d'Auchan, il change la vie?


We analyse Elo Group's SLB, the impact of its KPIs, and the value of its optionality

The Forensic Carbon Accountant: JBS SLB


JBS, a Brazilian meat producer, has issued three Sustainability-Linked Bonds and in this report we discuss the restatement of 2019 data

SLBs: no cal(l)amity


We compare a large sample of SLBs with traditional bonds, to identify relative trends of callability

Sustainability-Linked Bonds bumper week


The first five business days of September were very busy for SLB issuance, with eleven bonds pricing

Chile's Peso SLB issuance


Chile's recent CLP sustainability linked bond makes it the second largest SLB issuer

UK Water company reports: it never rains but it pours


In this report, we explore the implications of the UK water sector's poor annual results.

Airport SLBs: clear for takeoff


In this report, we assess whether airport SLBs have been effective at raising capital for climate transition.

Chemicals sector: synthesising impact with SLBs


This note provides an overview of SLB issuances in the chemicals sector.