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Issuance of green, sustainability, sustainability-linked and social (GSSS) bonds in emerging markets faces some headwinds in the coming months, amid financial market volatility.
Even so, longer term prospects for this relatively young market remain solid as issuers use it as a source of funds to finance technological upgrades.
More immediately, demand for new bonds to refinance around $330 billion of GSSS debt that is coming due—a sign the market is maturing—will offer some support to global volumes.
The seventh edition of the IFC-Amundi Green Bond report shows GSSS bond issuance hit a record $1 trillion in 2024, a 3 percent advance on the previous year. Global momentum is helping underpin sales in emerging markets, though 2024 did see lower GSSS bond volumes in developing economies.
