Global sales of corporate bonds with environmental, social and governance targets will rebound this year and top $460 billion, Barclays said, after the asset class had its first setback in 2022 as higher interest rates weighed on credit markets. | Reuters
NEW YORK – Global sales of corporate bonds with environmental, social and governance targets will rebound this year and top $460 billion, Barclays said, after the asset class had its first setback in 2022 as higher interest rates weighed on credit markets.
ESG bond volumes swelled over the past few years but dropped by 22 percent in 2022 amid a broader slowdown in corporate bond issues, as companies faced significantly higher borrowing costs due to aggressive monetary tightening actions by global central banks fighting inflation.Corporate ESG bond issuance fell to $362 billion last year from $461 billion a year earlier, Barclays said in a credit research note.
“We expect green bond issuance to continue to dominate the market thanks to strong demand and a long list of green projects that need funding as companies put decarbonisation plans into action,” Charlotte Edwards, Head of ESG FICC Research at Barclays, said in the note.
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