Outcome bonds link investor returns to measurable results and are seeing increased issuance, led by institutions like the World Bank. In this ESG Currents episode, Bloomberg Intelligence ESG analysts Melanie Rua and Chris Ratti speak with Jorge Familiar of the World Bank Group and Stephen Liberatore of Nuveen Asset Management about how these structures are scaling. The discussion focuses on how investors price outcome risk alongside credit risk, how deals are structured - including the World Bank’s $120 million Spekboom restoration bond - and where these instruments fit relative to green and sustainability-linked debt. They also examine investor demand, reporting requirements, and the role of multilateral development banks in mobilizing private capital. 


This episode was recorded on April 27.

Outcome bonds link investor returns to measurable results and are seeing increased issuance, led by institutions like the World Bank. In this ESG Currents episode, Bloomberg Intelligence ESG analysts Melanie Rua and Chris Ratti speak with Jorge Familiar of the World Bank Group and Stephen Liberatore of Nuveen Asset Management about how these structures are scaling. The discussion focuses on how investors price outcome risk alongside credit risk, how deals are structured - including the World Bank&rsquo;s $120 million Spekboom restoration bond - and where these instruments fit relative to green and sustainability-linked debt. They also examine investor demand, reporting requirements, and the role of multilateral development banks in mobilizing private capital.&nbsp;
 This episode was recorded on April 27.

ESG has become established as a key business theme as companies and investors seek to navigate the climate crisis, energy transition, social megatrends, mounting regulatory attention and pressure from other stakeholders. The rapidly evolving landscape has become inundated with acronyms, buzz words, and lingo and we aim to break these down with industry experts.

ESG has become established as a key business theme as companies and investors seek to navigate the climate crisis, energy transition, social megatrends, mounting regulatory attention and pressure from other stakeholders. The rapidly evolving landscape has become inundated with acronyms, buzz words, and lingo and we aim to break these down with industry experts.

ESG Currents

Paying for Results - World Bank on Outcome Bonds

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How does a sustainability focus support a pension fund's duty to safeguard the retirement future of a country's workers? What does effective engagement with companies look like? In this ESG Currents episode, Shahida Jaffar, Head of Corporate Sustainability at Malaysia’s Employees Provident Fund, joins Bloomberg Intelligence ESG analyst Conrad Tan to discuss the key principles guiding EPF's engagement with investee companies and why it sees the defense of biodiversity and natural capital as a critical priority. She also shares why she's optimistic that AI can help sustainability professionals better understand company impacts and dependencies on nature. EPF had 1.44 trillion ringgit ($360 billion) in total investment assets at end-March.

This episode was recorded on May 22.

How does a sustainability focus support a pension fund's duty to safeguard the retirement future of a country's workers? What does effective engagement with companies look like? In this ESG Currents episode, Shahida Jaffar, Head of Corporate Sustainability at Malaysia&rsquo;s Employees Provident Fund, joins Bloomberg Intelligence ESG analyst Conrad Tan to discuss the key principles guiding EPF's engagement with investee companies and why it sees the defense of biodiversity and natural capital as a critical priority. She also shares why she's optimistic that AI can help sustainability professionals better understand company impacts and dependencies on nature. EPF had 1.44 trillion ringgit ($360 billion) in total investment assets at end-March.
This episode was recorded on May 22.

Malaysia's EPF on Safeguarding Workers' Retirement

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Global costs related to climate events, including damage, insurance premiums, maintenance and repair, have exceeded $20 trillion since the year 2000, according to Bloomberg Intelligence’s Climate Damages Tracker. This massive wealth transfer provides the context for BI’s Climate Economy 2026 Outlook report. On this week’s episode of the ESG Currents podcast, Andy Stevenson, BI senior climate analyst and lead author of the report, joins Eric Kane, BI’s director of ESG research, to discuss how companies engaged in adaptation and resilience are benefiting from increased recovery spending and outperforming their benchmark. They also talk about opportunities in mitigation, the methane problem and what climate damages could look like over the next decade. This episode was recorded on June 2.

Global costs related to climate events, including damage, insurance premiums, maintenance and repair, have exceeded $20 trillion since the year 2000, according to Bloomberg Intelligence&rsquo;s Climate Damages Tracker. This massive wealth transfer provides the context for BI&rsquo;s Climate Economy 2026 Outlook report. On this week&rsquo;s episode of the ESG Currents podcast, Andy Stevenson, BI senior climate analyst and lead author of the report, joins Eric Kane, BI&rsquo;s director of ESG research, to discuss how companies engaged in adaptation and resilience are benefiting from increased recovery spending and outperforming their benchmark. They also talk about opportunities in mitigation, the methane problem and what climate damages could look like over the next decade. This episode was recorded on June 2.

Investing in the $20 Trillion Climate Economy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ac48cc7c-d2ee-464e-bc4b-b45e00c3a394/transcript

Emerging markets are central to the global sustainability transition and increasingly at the forefront of innovation in sustainable finance, from debt-for-food swaps to biodiversity-linked sovereign bonds. On this week’s episode of the ESG Currents podcast, Nicolas Jaquier, a portfolio manager on the emerging markets fixed income team at Ninety One, where he co-manages the Emerging Market Sustainable Blend strategy, joins Bloomberg Intelligence’s Chris Ratti and Grace Osborne. They discuss the resilience of emerging markets through recent market shocks, the growing evidence that countries investing proactively in the transition are less exposed to oil-price volatility, and why a dynamic approach is increasingly important for investors navigating these markets. This episode was recorded on April 28.

Listen to this episode on Apple Podcasts and Spotify.

Emerging markets are central to the global sustainability transition and increasingly at the forefront of innovation in sustainable finance, from debt-for-food swaps to biodiversity-linked sovereign bonds. On this week&rsquo;s episode of the ESG Currents podcast, Nicolas Jaquier, a portfolio manager on the emerging markets fixed income team at Ninety One, where he co-manages the Emerging Market Sustainable Blend strategy, joins Bloomberg Intelligence&rsquo;s Chris Ratti and Grace Osborne. They discuss the resilience of emerging markets through recent market shocks, the growing evidence that countries investing proactively in the transition are less exposed to oil-price volatility, and why a dynamic approach is increasingly important for investors navigating these markets. This episode was recorded on April 28.
Listen to this episode on Apple Podcasts and Spotify.

Transition Builds Resistance in Emerging Markets

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/0afccc91-cdc2-4c4b-a3ca-b457007d5dc5/transcript

Paying for Results - World Bank on Outcome Bonds

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