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.

Offi-Chile the largest sovereign SLB issuer

29/06/2023

We review Chile's new SLBs, in terms of the materiality of structure, and option pricing.

Deutsche Post SLB: does it deliver?

27/06/2023

Deutsche Post's SLB could establish an encouraging trend in supporting emissions reduction in the transport sector.

Sovereign SLB: an option for Japan's transition

19/06/2023

In this report we examine Japan's preperations for a financing package to support the green transformation of its economy.

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Carrefour SLB: market update

07/06/2023

In this report, we discuss Carrefour's four SLBs and their performance so far.

Uruguay SLB: market update

05/06/2023

Here, we discuss Uruguay's inaugural SLB that has an innovative symmetric step-up/step-down structure.

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Sustainability-Linked Bonds: alternative steps

23/05/2023

In this note we analyse some SLBs using new structures, to evaluate their benefits for investors and issuers.

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Nobian SLB: a lot of hot air?

16/05/2023

Nobian has released its 2022 sustainability report, showing a significant drop in emissions.

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Greenback SLBs: an impact standardisation proposal

10/05/2023

In this report, we separate an analysis of SLB structures into discussions around materiality and ambition.

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Carrefour: 1 SLB, 2 KPIs, 3 Scopes of emissions included

02/05/2023

In this report, we compare Carrefour's SLB with its traditional bonds.

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SLBs: complementary, my dear Investor

13/04/2023

In this report, we analyse the different characteristics of SLB issuers compared with green bonds.

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SLB triggers: what next if Nobian or PPC miss their targets

28/02/2023

In this report, we consider the possible implications of a “thematic default” by Nobian or PPC.

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BHP: think big with an SLB

23/02/2023

Mining giant BHP is looking to tap the US dollar bond market for the first time in ten years.