Rebound in emerging market green bonds

IFC and Amundi have revealed their Emerging Market Green Bonds Report 2021, which highlights a sharp rebound in issuance of green bonds in emerging markets and developing economies in 2021.

Despite ongoing uncertainty related to the pandemic and dislocations in many economies, the global market for green bonds exceeded most forecasts. Issuance of green bonds in emerging markets and developing economies (EMDEs) more than doubled in 2021 to a record $95bn from $41bn in 2020 and well above the $53bn in 2019. An additional $64bn of social, sustainability, and sustainability-linked bonds brought the total emerging market issuance of these bonds to $159bn in 2021, nearly triple the 2020 volume.

Thirty-five EMDEs issued green bonds in 2021, including seven new entrants to the market: Bangladesh, Côte d'Ivoire, the Dominican Republic, Guatemala, Pakistan, Serbia, and the Slovak Republic. China was the largest issuer at $59bn, accounting for 63per cent of the total, with non-financial corporate issuers in China overtaking financial institutions for the first time. India, Chile, the Czech Republic, Poland, and Brazil where the next largest.

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