In 2016, the green bond market was worth more than $90bn, a 120% increase on the previous year’s figure. It has enjoyed rapid rises every year since 2013 and, according to ratings agency Moody’s, issuance of green bonds could exceed $200bn by the end of 2017.
This rise has been driven, in part, by the momentum of the Paris Climate agreement as well as the high rate of issuance from China-based banks and corporates.
But the growing demand for green bonds, the proceeds of which are ring-fenced for environmental projects, is part of a bigger story, says Frédéric Samama, Deputy Global Head of Institutional Sales at Amundi. “It is a fascinating moment in the recognition of climate change and the various initiatives designed to counter its impact.
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