Another new trend also includes sustainability-linked bonds, that is, bonds where the use of funds is linked to specific environmental and social outcomes. Unlike a conventional green bond, which is project-specific, in form, the sustainability-linked bond form allows an expansive scale of ESG goals in the sense that it permits issuers to pursue their ESG goals, such as managing carbon emissions across entire operations.This means that besides energy-based projects, green bonds have also been funding other water-based projects, for example, wastewater treatment and desalination plants; agricultural sustainability; biodiversity conservation. Environmental pollution reduction and much greater energy efficiency are fast becoming another trend in the projects financing urban development. Cities, for instance, are around the globe putting up efficient public transportation, green buildings and smart grids-fuelled by green bond funds.