So, both green bonds
and SDG-linked bonds are sustainable finance tools,
but they are quite different.
When you issue a green bond,
you substantially try to attract capital
that is functional to supporting
a very specific project or program.
SDG-linked bonds are quite different
because they are linked to the strategy
of an organization.
So the KPIs that you use
when you issue an SDG-linked bond
are strategic KPIs,
and what this means is that
the capital that you raise
can be used in a more flexible way.
From a sustainable transformation perspective,
SDG-linked bonds are very interesting
because when they are used,
it really means that companies are taking
sustainable transformation very seriously.