Emerging markets are harnessing environmental, social and governance (ESG) metrics to raise debt and fund their energy transitions, with Chile recently becoming the first country to issue bonds tied specifically to sustainability goals. In early March Chile, which has been affected by a decade-long drought, sold $2bn in US dollar-denominated sustainability-linked bonds (SLBs), becoming the first sovereign to do so. In contrast to other types of green bonds that raise money to fund environmentally friendly developments such as solar and wind power...