Largest Sustainability-Linked Sovereign Bond of 2022

Awarded to: 
The Republic of Chile

Chile issued the world's first sovereign sustainability-linkedbond (SLB) in 2022. The USD2bn SLB adheres to the Paris Agreement on climate change, including that the country will emit no more than 95metric tons of carbon dioxide and equivalent by 2030, and that 60% of its electricity production must be derived from non conventional renewable sources by 2032. Including this bond, Chile has placed about USD32bn worth of socially and environmentally responsible bonds over the 2020-2022 period, and it is the only country in the world to have issued green, social and sustainability bonds, plus SLBs.

“Chile is committed to addressing climate change challenges, and its Sustainability-Linked Bond is an integral part of this strategy, proving that finances and climate commitment work closely together. We are proud of being the first SLB sovereign issuer, which set a milestone that is now backed with this award.”

- Mario Marcel, Minister of Finance