Brazilian sanitation company Aegea issued a $300 million bond with dual sustainable and sustainability linked classification as well as environmental and social objectives.

The bond's proceeds are earmarked for various renewable energy, pollution prevention and control, terrestrial and aquatic biodiversity conservation, sustainable water and wastewater management, affordable basic infrastructure projects and socioeconomic advancement and empowerment.

Specifically Aegea has set a target to reduce energy consumption in its water production and distribution, sewage collection and treatment by 15% by 2030. In addition, the company aims to increase the percentage of leadership positions filled by women to at least 45% and by black employees to at least 27% in the same timeframe.

"Very interesting and innovative hybrid bond between sustainability and sustainability linked bond, with use of proceeds clear and well defined", commented one Sustainable Debt Awards judge.