January 26, 2021 | banking

Green bond issuance hit new record


LONDON: Global green bond issuance reached a record high of $269.5 billion by the end of last year and could reach $400-$450 billion this year, a report by the Climate Bonds Initiative (CBI) showed on Monday.
Green bonds are a growing category of fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low-carbon transport.
Although issuance reached a new record in 2020, the figure was just above 2019’s total of $266.5 billion as issuance slowed in the second quarter due to the effects of the coronavirus crisis before rebounding in the third quarter.
“The impact of Covid-19 in 2020 proved a huge economic and social negative. In that context, the resilience of green finance markets led to a record year of issuance’’, the report said.
“2021 may enable a sustained resurgence’’, the CBI added.
The CBI is a London-based non-profit which promotes investment in the low-carbon economy.

omanobserver

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