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Eni Is First Oil Company to Sell Emissions-Linked Notes in Euros

June 7, 2021, 3:12 PM

Italian energy giant Eni SpA is the first oil company to sell euro bonds tied to cutting carbon emissions.

It’s the latest sign of how environmental debt financing is booming and attracting all kinds of companies -- even the ones responsible for generating carbon emissions. Eni sold 1 billion euros ($1.2 billion) of sustainability-linked bonds, according to a person familiar with the matter.

“It is a good test case to see whether the market is ready to finance companies’ transition plans,” said Ronald van Steenweghen, a money manager at Degroof Petercam Asset Management in Brussels, which holds some SLBs. ...

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