The rise in sustainability-linked debt issuance observed in 2021 has shown little sign of slowing down as borrowers continue to focus on improving environmental, social and governance.
In September 2021, Singaporean renewable energy company Sembcorp Industries raised S$675 million ($501 million) through its inaugural sustainability-linked bond (SLB), anchored by a S$150 million investment from IFC. The issuance sets the scene for an emerging financing instrument in Southeast Asia’s energy sector as the region showcases decarbonisation strategies at COP26