Home Featured Moody’s raises green bond issuance forecast to $75 bln this year
Moody’s raises green bond issuance forecast to $75 bln this year

Moody’s raises green bond issuance forecast to $75 bln this year

10
0

The amount of bonds issued to finance low-carbon projects could reach $75 billion this year, Moody’s Investor Service said, increasing its previous estimate after record issuance in the second quarter.

Moody’s said in April the issuance of green bonds, which are used to help finance projects such as renewable energy and low-carbon transport, could reach $70 billion this year.

“With strong issuance already observable in the first two weeks or so of July, on the heels of the Bank of China’s blockbuster $3 billion green bond…, the global green bond market is poised to reach $75 billion in total volume for the year and set a new record for the fifth consecutive year,” the report said.

Global green bond issuance reached $20.3 billion in the second quarter, up from $16.9 billion in the first quarter, it added.

The United States regained its position as the biggest issuer of green bonds by country in the second quarter from China, with 22.8 percent, driven by multiple issuances by the U.S. municipal sector.

Despite Bank of China’s sale of a $3 billion multi-currency green bond in the first week of July for renewable energy projects, pollution prevention, clean transportation and water management, China’s issuance fell to 5 percent of total volume in the second quarter, down from nearly 50 percent in the first quarter, the report said.

source-reuters

(10)

Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *