Sustainability performance target (SPT)
ESG & GovernanceThe level a sustainability KPI must reach by a set observation date under a sustainability-linked bond or loan.
An SPT should be ambitious, meaning better than business as usual, and ideally consistent with a science-based pathway. Judge it against the issuer's recent trend, its sector peers and the baseline year chosen. A target based on an unusually bad baseline year is easier to hit than it looks.
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