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Green, social and sustainable bonds set to plug climate financing gap

Outlook for GSS bond issuance is more upbeat this year, after a challenging 2022

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    • The energy crisis has raised the prospect of more long-term sustainable debt issuance to finance Europe's energy transition.
    • The energy crisis has raised the prospect of more long-term sustainable debt issuance to finance Europe's energy transition. IMAGE: PIXABAY

    Xuan Sheng Ou Yong

    Published Mon, Apr 24, 2023 · 04:25 PM

    IN RECENT years, the market for sustainable use-of-proceeds bonds has grown significantly. Annual issuance of green, social and sustainable (GSS) bonds rose from US$95 billion in 2018 to US$735 billion in 2021, according to Bloomberg data.

    However, the sustainable-labelled bond industry had a difficult 2022 amid broader macroeconomic issues, causing annual issuance of GSS bonds to fall to US$572 billion.

    The energy crisis, pandemic and last year’s interest-rate hikes created a challenging macroeconomic environment, exacerbated by the war in Ukraine.

    Impact InvestingSustainability-linked bondsESG

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