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Laxman Pai, Opalesque Asia: European entities issued $87.67 billion of green bonds in the 2023 April-June quarter, up 30% on the previous three months, said a study.
According to data from the nonprofit Climate Bonds Initiative, global green bond sales are likely to accelerate further, helped by supportive policy in Europe and a more stable interest rate environment.
"A new green bond standard is expected to be adopted in Europe later this year, boosting demand in the region that leads the world in green bond issuance," said the study.
The European Union Green Bond Standard aims to improve the transparency, comparability, and credibility of the green bond market, helping investors more closely assess the environmental, social, and governance stance of issuers. Global interest rates are near their peak according to most analysts, which would stem a decline in bond prices and stabilize costs for issuers.
Global green bonds sales in the June quarter rose 20% from the previous three months to $144.38 billion. The Asia-Pacific region was the second largest issuer with $30.82 billion in the second quarter, although issuance there did fall short of the $36.28 billion in the first quarter, the data showed.
Germany and Italy each priced more than $10 billion in sovereign green bonds in the second quarter, according to Climate Bonds Initiative.
By country, Germany was the top issuer in the June quarter, with $24.13 billion, followed by China with $18.71 billion the...................... To view our full article Click here
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