Solaris Midstream: A sustainable sideline to fracking?

In:

Oil & gas

Region:

Americas

Tom Nelthorpe

Editor

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Solaris Midstream's recent high-yield sustainability-linked bond issue – a deal with pricing linked to upping Solaris’ output of recycled water for fracking – provided a rare opportunity for sustainable debt investors to gain exposure to the health of the US upstream oil and gas sector. Is the deal stretching the definition of 'sustainability' too far? ISS ESG didn’t think so – and nor did the issue's buyers.