Green Bonds Mid-Year Summary 2017

Climate Bonds looks at the last six months numbers, the trends and our tips for the rest of 2017

Record issuance in Q2, Credit Agricole tops the underwriters table, diversity in deals, but more corporate green bonds needed and harmonization is on the way

 

Headline figures for the Half Year (H1) 

- 2017 issuance to H1: USD55.8bn 

- Records broken: Quarter 2 (Q2) is the largest quarter of issuance on record at almost USD30bn 

- 82 green bond deals issued in the quarter from 74 issuers 

- Over 50% of issuers were first time issuers 

- Green Bond transactions accounted for 3% of global bond market transactions in Q2 2017

Click to download

 

- Top 5 largest issuers of H1:

Republic of France (USD7.6bn), 

EIB (USD2.8bn), 

KfW (USD2.5bn), 

Bank of Beijing (USD2.2bn), 

TenneT (USD2.2bn).

 

Underwriters League Table 

H1 shows Crédit Agricole on top, improving their rank from Q1. Morgan Stanley is the big mover and with Citi they round out the top three, HSBC coming in a close fourth.

P.S: Thanks again to Thomson Reuters for providing their league table data for our use. Methodology information is here

 

Our predictions for the rest of 2017:

- Sovereign issuance will increase. Watch out for Nigeria, Kenya and Morocco. 

- Chinese issuance will pick up, exceeding 2016 issuance.

- Harmonisation of standards looks increasingly likely.

- USD130bn for the year looks possible.

 Looking ahead from 2017, the bigger question would be: Is USD1trn a year by 2020 possible?

 

Download our full Mid-Year Summary here

 

 

 

 

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