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Laxman Pai, Opalesque Asia: Global sustainable bond issuance is on track for a record 2021 after clocking in at US$469.1 billion in the first half, fuelled by growing demand for climate-related investments, and is likely to hit $1 trillion in 2023, said a study.
Total volumes for the labeled sustainable debt market include labeled Green, Social, and Sustainability (GSS) bonds, Sustainability-linked bonds (SLB), and Transition bonds.
According to Climate Bonds Initiative, a UK-based green investment advocacy group, the amount represents 59% year-on-year growth from the equivalent period in 2020. It also sets the market on track to reach record highs this year after a 2020 total of nearly $700bn.
Overall, developed markets (DM) countries contributed 76% of green bond issuance in the first half, (+1% vs H1 2020). The share of emerging market (EM) countries grew marginally from 18% to 19% between H1 2020 and H1 2021. supranational issuer (SNAT) issuance made up 4% of the volumes (-3% from H1 2020).
Europe was the top issuing region overall, more than doubling (107% YoY volume growth) compared to the first half of 2020. This translated to $119.2bn of green debt (52% of the total volume) from 352 issuers. More than half of the European volume came from financial and non-financial corporates (30% and 22% respectively).
The Asia-Pacific region also showed impressive development, growing by 161% year-on-year ($51.9bn versus $19.9bn in H1 2020).
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