Sustainability - Linked Bonds are at a Crossroads

BwB’s recent article featuring insights from our investor roundtable on sustainability-linked bonds (SLBs) highlights a key theme that continues to resonate with investors: the need for stronger integrity and clearer incentives if SLBs are to emerge as a credible tool for transition finance. The discussions identified three priorities:  Sharper KPIs that reflect real-economy transition pathways, not incremental targets.  Transparent structures that reduce ambiguity and build confidence across the market.  Consistent verification so that ambition can be measured, monitored, and rewarded. The key takeaway: Aspects of SLBs must evolve if they are to deliver meaningful impact. What shift do you think would most strengthen the SLB market in 2026? We’d welcome your perspectives in the comments.