Brazil-based cosmetics firm Natura has won the Sustainability-linked bond of the year – corporate award for its 'groundbreaking' BRL1.32 billion ($224.7 million) bond, its 13th sustainability-linked bond (SLB).

The bond's financial incentives are directly tied to Natura's progress in expanding the use of bio-ingredients within its products from 44 to 49 by 2027. It aims to support sustainable supply chains of agroforestry systems contributing to the Amazonian bioeconomy and contribute to the preservation of the rainforest.

Through its existing product range, it has already worked with 10,000 families in the region. 

The bond saw cornerstone investment from IDB Invest through its Amazonia Forever programme and the International Finance Corporation, which committed BRL200 million and BRL300 million respectively.

The cosmetic firm said that it hopes the sustainable issuance will help catalyse further sustainability-linked debt in the region, particularly to help expand production chains which support the natural environment and the region's rich socioeconomic diversity.