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‘The green bonds market spreads its wings across the globe’, ‘Explosive growth!’, ‘Green bonds enter the game as star players!’ – that’s how some of the journalists described the exciting growth of the green bonds market in 2014. After the impressive year, everyone wonders if ‘the breakneck speed of expansion’ will continue.

Morgan Stanley (MS) tops the Q4 underwriter league table, making $1.1bn of green bond deals during the quarter, with JP Morgan following closely in second place with $887m of deals. Both were carried over the line by big municipal green bonds, which pushed them ahead of staunch rivals Bank of America Merrill Lynch (BAML) and Citi, who come in third ($763m) and fourth ($756m) respectively.

Tomorrow, Sean Kidney (Climate Bonds Initiative), Ben Powell (IFC), Björn Lindström (Vasakronan) and Christoffer Flensburg (SEB) will talk green bonds at a seminar in Stockholm organised by Swesif.

By Tess Olsen-Rong, Climate Bonds Market Analyst

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..... Supranational green bonds

Huge retail demand for World Bank’s latest offering increases size from $15m to $91m in 3 days, 7 yr tenor AAA