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

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