Global energy major Sembcorp launched its first Sustainability linked Bonds (SLB) and raised S$675 million. The company it is the first and largest such issuance in the Southeast Asia.
This also marks the latest phase in the transition to a net-zero future by the company, Sembcorp said in a statement. The SLB issuance was anchored by IFC with an investment of S$150 million. This is the first SLB investment by IFC.
Unlike traditional green bonds, SLBs involve issuers pledging to improve their performance against tailor-made ESG (environmental, social and governance) targets.