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May 13, 2024

Sustainability-Linked Bond Handbook

The SLB Handbook from the Anthropocene Fixed Income Institute offers a practical overview of the SLB market.

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Sustainability-Linked Bonds cover

March 20, 2024

Sustainability-Linked Bonds: How to make them work in developing Countries, and how donors can help

This report provides an overview of developments, challenges and opportunities in the new sustainabilitylinked bond...

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March 20, 2024

NDEs and Credit Ratings: the Impact of the 2007-2008 Global Financial Crisis on the Credit Ratings of Nature Dependent Exporters

Here we explore the relationship between NDE categories, sovereign credit ratings, and resilience to global economic...

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November 2, 2023

From Links to Linkages

This paper explores possibilities of integrating the proceeds of natural capital into sovereign debt instruments.

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Assessing Nature-Related Issues in Sovereign Debt Investment Cover

October 12, 2023

Assessing Nature-Related Issues in Sovereign Debt Investment

Building on the TNFD’s recommendations and additional guidance, NatureFinance has developed tailored guidance...

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September 19, 2023

Investor Questionnaire Results Report

SSDH carried out a survey among major institutional debt asset managers on Sovereign Sustainability-Linked Debt.

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August 29, 2023

Saving sustainability-linked bonds

The World Bank's blog proposes solutions to reinvigorate the SLB market.

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August 10, 2023

A Green Deal for the Amazon - Sovereign SLBs

Moritz Kraemer argues that tailored SLBs can support incentives for conservation for governments in the Amazon region.

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June 30, 2023

The Triple Agenda - Strengthening Multilateral Development Banks

The report of an Independent Expert Group commissioned by the Indian G20 Presidency argues for a radical reform of MDBs.

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June 15, 2023

Sovereign SLB: an option for Japan’s transition

Japan is looking to finance its decarbonisation program with transition bonds. AFII suggests sovereign SLBs instead.

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More for Less Cover

March 31, 2023

More for Less: Scaling Sustainability-linked Sovereign Debt

A viable market for sustainability-linked debt can address the triple challenge of public debt distress, climate...

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big factory pipes

March 23, 2023

The potential of sovereign sustainability-linked bonds in the drive for net-zero

The Bruegel's report explores how sovereign SLBs could incentivise climate policies and emission reductions in the EU.

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January 25, 2023

The Role of Credit Enhancement in Sovereign Sustainability-linked Debt Issuance

The Landscaping Review explores the role that credit enhancement can play in sustainability-linked sovereign debt.

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The virtuous cycle

December 14, 2022

Stepping out of the comfort zone: What’s next for sustainability-linked financing?

This blog from the World Bank discusses the future of sustainability-linked financing.

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October 29, 2022

Notes on Risk-Neutral Pricing of SLBs and Step-down Structures

AFII's paper analyses Sustainability-Linked Bonds (SLBs) through a risk-neutral present value scenario approach...

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Sustainability-linked Sovereign Debt Hub Prospectus cover

September 7, 2022

SSDH Prospectus

The Sustainability-linked Sovereign Debt Hub (SSDH) creates both an inclusive cooperative space...

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Debt-for-Climate Swaps: Analysis, Design, and Implementation

August 12, 2022

Debt-for-Climate Swaps: Analysis, Design, and Implementation

This paper compares debt-for-climate swaps—partial debt relief operations conditional on debtor commitments to undertake

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Integrating Nature into Debt Sustainability Analysis

July 11, 2022

Integrating Nature into Debt Sustainability Analysis

This report highlights the importance of integrating nature-related risks into debt sustainability frameworks for...

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Could a sovereign sustainability-linked bond help protect the Amazon? Part 2

June 28, 2022

Could a sovereign sustainability-linked bond help protect the Amazon? Part 2

This blog is part two of a two-part blog series. The previous blog describes the Brazilian context and the difficulties

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Could a sovereign sustainability-linked bond help protect the Amazon? Part 1

June 27, 2022

Could a sovereign sustainability-linked bond help protect the Amazon? Part 1

This blog is part one of a two-part blog series. This blog describes the Brazilian context and the difficulties with pur

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Nature Loss and Sovereign Credit Ratings

June 23, 2022

Nature Loss and Sovereign Credit Ratings

Biodiversity loss and environmental degradation can have material impact on sovereign creditworthiness. Current methodol

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flower raising from the dry soil

April 5, 2022

Chile sustainability-linked bond: Optionality analysis

Anthropocene Fixed Income Institute's review illustrates how to price the optionality value in the SLB...

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Wildlife Conservation Bond mobilizes private capital to protect critically endangered rhinos

March 23, 2022

Wildlife Conservation Bond mobilizes private capital to protect critically endangered rhinos

The World Bank’s USD 150 million Wildlife Conservation Bond (WCB) is a first-of-its-kind outcome-based bond that...

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Greening Sovereign Debt Performance - Shared Risk and Rewards in Financing the Transition

March 3, 2022

Greening Sovereign Debt Performance - Shared Risk and Rewards in Financing the Transition

Sovereign bond markets need to quickly and radically innovate in order to successfully integrate climate- and nature...

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The elephant in the room: Bringing sustainable investment to Africa

January 18, 2022

The elephant in the room: Bringing sustainable investment to Africa

The coronavirus pandemic has renewed interest in sustainable investing strategies that allow investors to both protect t

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Striking the right note: Key performance indicators for sovereign sustainability-linked bonds

January 6, 2022

Striking the right note: Key performance indicators for sovereign sustainability-linked bonds

A new World Bank report - Striking the Right Note : Key Performance Indicators for Sovereign Sustainability-Linked...

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Linking sovereign debt to climate and nature outcomes. A guide for debt managers and environmental decision makers

November 1, 2021

Linking sovereign debt to climate and nature outcomes. A guide for debt managers and environmental decision makers

As countries grapple with the triple crisis of debt, climate change and nature loss, compounded by the impacts of the...

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Case Study BELIZE DEBT CONVERSION FOR MARINE CONSERVATION

November 1, 2021

Case Study BELIZE DEBT CONVERSION FOR MARINE CONSERVATION

In November 2021, The Nature Conservancy (TNC) and the Government of Belize (Belize) announced the completion of a...

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Scaling up Green, Social, Sustainability and Sustainability-linked Bond Issuances in Developing Countries

October 18, 2021

Scaling up Green, Social, Sustainability and Sustainability-linked Bond Issuances in Developing Countries

This report explores the global landscape of the Green, Social, Sustainability and Sustainability-linked (GSSS) Bond...

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Nature Performance Bonds - Frequently Asked Questions

July 29, 2021

Nature Performance Bonds - Frequently Asked Questions

Performance-based debt instruments have the potential to transform the way nature, climate and other sustainability...

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The Economic Case for Nature

June 30, 2021

The Economic Case for Nature

The Economic Case for Nature is part of a series of papers by the World Bank that lays out the economic rationale for...

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The Economics of Biodiversity: The Dasgupta Review

February 1, 2021

The Economics of Biodiversity: The Dasgupta Review

Final Report of the Independent Review on the Economics of Biodiversity led by Professor Sir Partha Dasgupta.

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June 1, 2020

Sustainability-Linked Bond Principles

Sustainability-Linked Bonds (“SLBs”) aim to further develop the key role that debt markets can play in funding...

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Sovereign Sustainability-Linked Bonds: Chile Sets A High Bar

March 1, 2018

Sovereign Sustainability-Linked Bonds: Chile Sets A High Bar

In March 2018, as part of its Long Finance initiative, Z/Yen published the first edition of the Global Green Finance...

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Conservation finance: from niche to mainstream : the building of an institutional asset class

January 20, 2016

Conservation finance: from niche to mainstream : the building of an institutional asset class

The objective of this report is to identify financial product structures that have the potential to establish...

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