Anthropocene Fixed Income Institute

What Anthropocene Fixed Income Institute does

Anthropocene Fixed Income Institute (AFII) is an independent, non-profit research organization founded in 2020 that focuses exclusively on the intersection of fixed income markets and climate change. Its mission is to enable the $130 trillion global fixed income market to drive the climate transition by providing institutional investors with specialized analytical tools and evidence-based research on sustainability-linked bonds (SLBs), deforestation exposure, nature loss risk, and climate transition credit. AFII's primary constituents are institutional fixed income investors — including asset managers, pension funds, insurers, sovereign wealth funds, and central banks — alongside corporate and sovereign bond issuers that need frameworks to structure credible sustainability debt instruments.

AFII's product portfolio comprises a suite of web-based analytical tools and authoritative publications. Core tools include The Box (portfolio analytics dashboard for deforestation exposure and transition metrics), Co₂liseum (model portfolio analytics for sovereign and corporate transition credit), the Sustainability-Linked Bond Pricer (option pricing for SLB step-up/step-down mechanisms), the Deforestation Debt Universe (DDU) toolkit with Representative Deforestation Credit Portfolio (RDCP), Bond Horizon (labelled debt research), the Bondholder Engagement Toolkit, and Sovereign Transition Analytics for SSA portfolios. Major publications include the Sustainability-Linked Bond Handbook (May 2024) and the Deforestation and Fixed Income Markets Primer (November 2025). The organization's GTM is community-led, relying on free open-access distribution via anthropocenefii.org, email subscriptions, social media, industry events, and amplification through tier-one financial media (Bloomberg, Financial Times, Reuters, IPE, Environmental Finance).

AFII operates as an independent private non-profit with no disclosed external investors, funding rounds, or revenue figures. Headcount is in the 1-10 range with headquarters in London (per leadership positioning) and references to Stockholm in firmographic data. The institute is led by CEO Justine Leigh-Bell (appointed February 2026 after founder Ulf Erlandsson returned to investing at AP4), with Catherine Greene as Chief Impact Officer, Aline Gustafsson as Board Chair, Jonas David as Research Director, Kamesh Korangi as Quant Credit Strategist, and a growing Asia-Pacific research team. AFII was recognized as Environmental Finance NGO of the Year in December 2024 and maintains collaborative relationships with IIGCC and alignment with ICMA standards.

Name

Anthropocene Fixed Income Institute

Legal name

Anthropocene Fixed Income Institute

Website

https://anthropocenefii.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

AFII is an independent non-profit research institute founded in 2020 that provides institutional fixed income investors with specialized analytical tools and research on sustainability-linked bonds, deforestation exposure, and climate transition credit in the $130 trillion bond market.

Ownership category

akta.pro rank

Product category

Sustainable Finance Research and Analytics

NAICS

Environmental Consulting Services (541620)

SIC

Finance Services (6199)

akta.pro primary industry

Green, Social & Sustainability Bonds (GSS/SLB Fixed Income Strategies) (FSAAALAF)

akta.pro secondary industries

Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK), Fixed Income ETFs & Index/Portfolio Trading (FSACAEAK)

Keywords

• Fixed income research
• Climate transition analytics
• Sustainability-linked bonds
• Deforestation risk assessment
• Portfolio analytics tools

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Research publications and subscriptions: AFII distributes research publications, tools, and analytical frameworks to institutional fixed income investors. The institute operates a subscribe/email update model and offers content freely via its website, suggesting revenue is driven by institutional subscriptions, grants, or institutional partnerships rather than direct product sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Anthropocene Fixed Income Institute is a non-profit research institute that produces proprietary analytical tools, primers, and handbooks to help fixed income investors and bond issuers assess and manage climate transition risk, nature loss, deforestation exposure, and sustainability-linked bond structures in corporate and sovereign debt markets. Its offerings are distributed freely via its website and supported by an email subscription list, with funding from institutional partnerships and grants.

Product overview

The Anthropocene Fixed Income Institute (AFII) operates as a research organisation offering a suite of web-based analytical tools and publications for fixed income investors. Its core product portfolio includes The Box (portfolio analytics dashboard), Co₂liseum (transition credit model portfolio analytics), Bond Horizon (research resource on labelled debt), the Sustainability-Linked Bond Pricer (option pricing tool), and the Bondholder Engagement Toolkit. These tools are complemented by authoritative research publications including the Sustainability-Linked Bond Handbook, the Deforestation and Fixed Income Markets primer (featuring the Deforestation Debt Universe toolkit), and the Representative Deforestation Credit Portfolio (RDCP) for nature loss analysis. AFII also recently launched Sovereign Transition Analytics, a data-driven framework for sovereign and SSA portfolio managers. All offerings are oriented toward enabling fixed income market participants to direct capital toward impactful sustainable investments and drive the climate transition.

Differentiator

Problem solved

Functional benefit

Products and services

• The Box Portfolio analysis dashboard for fixed income investors covering deforestation exposure, transition credit performance, and climate transition metrics across bond holdings.
• Co₂liseum Model portfolio analytics tool for sovereign transition performance, enabling investors to optimize portfolios for decarbonisation outcomes and assess transition credit risk.
• Bond Horizon Research and analytical resource covering sovereign labelled bond issuance, labelled debt market trends, and fixed income sustainability topics.
• Sustainability-Linked Bond Pricer Analytical tool for pricing and valuing Sustainability-Linked Bonds, enabling assessment of option pricing and coupon step-up/step-down scenarios.
• Bondholder Engagement Toolkit Toolkit providing fixed income investors with frameworks and resources to engage bond issuers on climate and sustainability matters.
• Deforestation and Fixed Income Markets: A Primer Guide helping investors assess and manage nature loss risks in corporate and sovereign debt markets, featuring case studies on JBS, Mars, and Cargill, and including AFII's Deforestation Debt Universe toolkit.
• Sustainability-Linked Bond Handbook First-of-its-kind comprehensive guide to Sustainability-Linked Bonds supporting the growth of the SLB market.
• Representative Deforestation Credit Portfolio (RDCP) Analytical tool for analysing the extent of deforestation exposure in liquid credit portfolios, part of AFII's nature loss research.
• Sovereign Transition Analytics Data-driven framework for improving the climate transition profile of sovereign and SSA (Supranational, Sovereign and Agency) portfolios.
• Deforestation Debt Universe Monitoring toolkit for assessing deforestation exposure in corporate and sovereign debt portfolios, including a Representative Deforestation Credit Portfolio (RDCP) for analysing deforestation in liquid credit portfolios.

Quantifiable outcome

• Lower-carbon bond portfolios delivered 16.4bps annualized excess returns (passive strategy) and 168bps (active Co₂liseum-based strategy) versus benchmarks, with Sharpe ratios above 1
• +2 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• IIGCC (Institutional Investors Group on Climate Change)coreStrategic or Co-development PartnerAFII collaborates with IIGCC, a membership body for institutional investors on climate change, on bondholder collaboration initiatives including targeting unlisted companies in bondholder engagement efforts.
• ICMA (International Capital Market Association)minorStrategic or Co-development PartnerAFII's work on sustainability-linked bonds, transition finance, and sovereign labelled bonds aligns with ICMA standards and guidelines. AFII researchers contribute to the discourse on SLB standards, Green Bond Principles, and transition finance frameworks.

Scale indicators4 records

Recent moves6 records

Emerging players

• Transition Pathway Initiative (TPI): Investor-led initiative assessing corporate and sovereign climate transition alignment. Overlaps with AFII's Co₂liseum and sovereign transition analytics work and serves a similar institutional investor audience focused on transition-aligned bond holdings.
• InfluenceMap: Independent research organization analyzing corporate climate policy influence, with growing fixed income and corporate-bondholder engagement content. Comparable non-profit think tank model focused on climate finance.
• CDP (Carbon Disclosure Project): Non-profit running the global environmental disclosure system for corporates, cities, and investors. Provides underlying climate data that feeds AFII's deforestation and transition analytics, and shares the non-profit research/advocacy profile.

Broad incumbents

• Principles for Responsible Investment (PRI): UN-backed network of institutional investors promoting responsible investment, including fixed income. Broader than AFII (covers all asset classes and ESG themes), but serves the same institutional investor audience with comparable research and stewardship frameworks.
• MSCI ESG Research: Established ESG data and ratings provider offering fixed income sustainability analytics at scale. Competes with AFII on institutional investor workflows and has the distribution footprint AFII lacks; AFII's differentiator is fixed-income-specific depth.
• ISS ESG: Institutional Shareholder Services' ESG unit providing sustainability ratings, screening, and fixed income analytics. Comparable target market of institutional investors using ESG data in portfolio decisions.
• S&P Global Sustainable1: S&P's sustainability data and analytics arm covering green/social bond assessment and ESG ratings. Operates in adjacent space with enterprise distribution advantages over AFII's free, research-led approach.
• Bloomberg ESG: Integrated ESG data offering inside the Bloomberg Terminal, providing sustainability analytics for bond portfolios including green/SLB coverage. Represents the bundled incumbent alternative to AFII's standalone specialist tools.

Direct peers

• International Capital Market Association (ICMA): Industry standards body for green, social, sustainability-linked, and sustainability-linked bond principles. AFII already collaborates with ICMA and contributes to SLB/transition framework discourse; both serve fixed income market participants with bond-market-specific sustainability guidance.
• Climate Bonds Initiative: The most direct peer — a non-profit organization that develops standards, certification, and data for green and sustainable fixed income instruments. Operates in the same 'sustainable bond research and advocacy' category as AFII with overlapping issuer coverage and investor audience.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/fixedinstitute
• LinkedInlinkedin.com/company/anthropocene-fixed-income-institute

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Anthropocene Fixed Income Institute