Global green bond issuance reached $47.2 billion in the first quarter of this year, a new first-quarter record and 40 percent higher than the same period last year, a report by Moody’s said on Thursday.
This puts the market on track to reach Moody’s forecast of $200 billion of issuance this year.
Green bonds are fixed-income securities used to raise capital for projects with environmental benefits.
The rise came despite a 3.2 percent decline in overall bond issuance in the first quarter, the report said.
Green bonds account for just 2.5 percent of the global bond market but are expected to keep gaining share, it added.
Source: Zawya