After a significant jump in green bond issuance in 2019, the KfW capital markets head tells Ahren Lester they still expect 2020 issuance to hit €8 billion and that 'greeniums' have persisted - but don't expect any social or sustainability-linked bonds from the development bank.
In a year thrown into disarray by the coronavirus pandemic, Ahren Lester reports on how issuance of green, social and sustainability bonds has continued to power ahead, helped by a broadening range of issuers and more large issues.
Click here to download FREE, Environmental Finance's Sustainable Bonds Insight 2020. This report includes graphics and data illustrating the main trends of 2019 in the green, social and sustainability bond markets together with forward-looking commentary from leading market commentators.
Environmental Finance's Bond Awards were expanded again this year to reflect the growth and evolution of the green, social and sustainability (GSS) bond markets and to include the nascent GSS loan market.
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Comparison of Q3 issuance of green, social, sustainability and sustainability-linked bonds
*Issuance of green, social and sustainability bonds in the third quarter of 2020 jumped almost doubled that of Q3 2019, due in part to the increased number of bonds issued with a value of $2 billion or more (the number has risen five-fold from three in Q3 2019 to fifteen in Q3 2020). The increase coincides with social and sustainability bonds taking up a larger share of issuance and the market's adoption of ICMA's 2020 Sustainability-linked Bond Principles.
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