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Laxman Pai, Opalesque Asia: Green bond issuance in emerging markets increased by 34% in 2023, according to research by Amundi and the International Finance Corporation (IFC).
The research highlighted a strong rebound in Global Green, Social, Sustainability, and Sustainability-Linked (GSSS) bonds issuance globally (up by 11%, after a 10% retreat in 2022), driven by green bonds (up 15%) as well as by emerging markets (up 45%), reaching $1 trillion to match the all-time high seen in 2021.
The sixth edition of the Emerging Market Green Bonds Report published by the French giant and the IFC revealed that value of the the green bonds market for emerging markets and developing economies (EMDEs) sat at €124bn as of the end of the year.
Within emerging markets, strong GSSS bond issuance across all sub-segments is up by 45% overall in emerging markets and 65% in EMDEs outside China. China's strong but relatively slower GSSS bonds issuance (up by 28%) was driven by a combination of two factors: some reversion from a remarkably strong 2022, and weaker domestic economic dynamics, particularly in the construction and real estate sectors.
In 2023, China remained the largest green bonds issuer in emerging markets ($89.1 billion), growing by 18% year over year. In EMDEs outside China, GSSS bond issuance was mainly driven by green bonds, which increased by 81%. In the Middle East and North Africa, most notably UAE and Saudi Arabia, green bond issuances more than doub...................... To view our full article Click here
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