Is Social Bond format / Principles fit for Covid-19 crisis related expenditures?

SRI investors are reshaping their sustainability-themed investment strategies in facing the crisis, some of them specifying response to Covid-19 must be done in alignment with the SDGs. Issuers (mainly SSAs) have started issuing Covid-19 related bonds (some of which under the Social Bond format). Overall, these bonds were very welcome by the market as shown by the over-subscription of the order books (x3 to x7), and the presence of SRI investors demonstrate these bonds are falling under their impact investment strategies/ targets.