A better outlook for social bonds
While issuance of social bonds has dropped, the market is young; investors remain keen to allocate capital into credible impact investments
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SUSTAINABLE debt issuance slumped in 2022 for the first time ever, falling from a record US$1.1 trillion in 2021 to US$863 billion in 2022, in line with debt issuance volumes globally.
Social bonds were hit hardest, with issuance falling by 41 per cent and continuing to drop – albeit more slowly – in the first quarter of 2023.
We believe it is important to highlight 2021 as an exceptional year for social bonds. The pandemic spurred the mobilisation of vast sums as the authorities responded to job and income losses, amid other lockdown-related issues.
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