Wednesday, Aug. 12 / 11:00 AM – 12:30 PM (EDT)
| Since the first sustainability-linked bond was issued by Italian energy company ENEL in September 2019, sustainability bonds have steadfastly gained traction.
Green bonds—or social bonds—are issued for the specific purpose of funding, or financing, particular environmental or sustainable projects. Sustainability-linked bond proceeds, however, are not earmarked for specific projects, but linked to certain sustainability targets demonstrating the issuer’s commitment to a more sustainable future for its business and a gradual shift away from fossil fuels.
Even as new issues are gaining traction, the efficacy of sustainability-linked bonds is still being debated, including concerns of suppressed green bond issuances leading to greenwashing. Against this backdrop, a working group of the International Capital Markets Association (ICMA) recently released the Sustainability-Linked Bond Principles, offering issuers and investors a set of best practices and guidelines when issuing sustainability-linked bonds.
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