Carrefour’s ESG Bond Does Nothing to Curb Its Emissions
- Grocer’s bond sale was subscribed six times in sign of demand
- Notes lack emissions goals, watering down their climate impact
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Investors rushed to buy Carrefour SA’s second sustainability-linked debt offering in six months, even though the bonds again didn’t include any emission-reduction targets to help achieve climate goals.
In a sign of strong appetite for ethical debt despite broader market volatility hindering global issuance, the French grocer’s 500 million euro ($485 million) bond sale last week was over six time subscribed by investors.