A bond whose proceeds are used only to finance or refinance a combination of both environmental and social projects is called:
Correct answer: C
Explanation
Per ICMA's Green, Social and Sustainability Bond Principles, a Sustainability Bond is one whose proceeds finance or refinance a combination of green (environmental) and social projects. Green Bonds fund only environmental projects, Social Bonds fund only social projects, and Sovereign Bonds refer to the issuer (government) rather than use of proceeds. The defining 'both environmental and social' criterion points squarely to a Sustainability Bond. Read more: Norms in Society: Social Expectations, Principles and Behaviour Regulation (UPSC Ethics — GS IV).