Journal of
Italian
Banking
Association
year 100
Italian
Banking
Association
year 100
Social Bonds: What We Know?
Danilo Abis, Marina Damilano, Patrizia PiaMay 2024 - n. 5
Keywords: Social bond, Esg, sustainability, finanza sostenibile
Jel codes: G10, G20, H63
Social bonds have assumed a relevant role within sustainable finance. They have played a crucial role in supporting the Covid-19 emergency while the number and the amount of issuance have decreased during the post-pandemic period. After presenting the international guidelines and framework, the paper deeply analyzes the characteristics of social bonds. The rationales for issuing social bonds by corporate companies have been discussed, as well as the relevance of a second-party opinion. The allocation of proceeds is also investigated, which shows the need for more transparency regarding the social projects funded. The analysis of maturity provides insights into medium- to longterm effectiveness.
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