Is sustainability-linked finance over and who will run HSBC?

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◆ Sustainability-linked bonds lose appeal... 
◆ ... as do the loan versions, come to think of it 
◆ The favourites to take over from Quinn at HSBC

When Enel missed a KPI on its sustainability-linked bonds, it could have marked a moment of maturation for a youthful product but issuance volumes are plummeting.

Meanwhile, the international banks that lend to Turkey's financial institutions seem to prefer to make green loans rather than the sustainability-linked versions they made previously.

We ask what is going on with sustainability-linked products — does all of this signify the last rites for an asset class that was supposedly so well-suited to funding the green transition?

Meanwhile, Noel Quinn caused a surprise this week by announcing his plans to retire from HSBC, where he is chief executive. We look at who might replace him, and we think we've identified a clear favourite.