Moody´s: ESG obligationer vil ramme rekord på 650 milliarder dollars i 2021

Global udstedelse af grønne og sociale obligationer (bæredygtige obligationer) vil ramme en rekord på 650 milliarder dollars i 2021. Det er en stigning på 32% i forhold til de 491 milliarder dollar, der blev udstedt i 2020, vurderer Moody’s Investors Service i en ny rapport.

“Vi forudser 375 milliarder dollar i grønne obligationer, 150 milliarder dollars i sociale obligationer og 125 milliarder dollar i bæredygtighedsobligationer i 2021,” siger Matthew Kuchtyak, assisterende vicepræsident og analytiker hos Moody’s Investors Service.

“Vi forventer, at den grønne obligationsudstedelse vil springe med 39% i år, da økonomien fortsætter med at komme tilbage, og udstedere i stigende grad forfølger gældsfinansiering til miljøvenlige projekter,” siger Matthew Kuchtyak.

I en meddelse skriver Moody´s:

Sustainable bonds may represent 8-10% of total global bond issuance in 2021, according to Moody’s forecast, after accounting for 5.5% of total issuance in 2020. Growth in social and sustainability bond issuance will slow, however, as coronavirus pandemic-related financings begin to plateau. Moody’s expects social bonds to grow 6% in 2021, after increasing sevenfold in 2020, while sustainability bonds will grow 58% after doubling in 2020.

Moody’s says that key sustainable finance developments will advance significantly in 2021 – particularly sustainability-linked bonds and transition finance. Sustainability-linked bonds have strong growth potential, as they allow issuers to maintain the flexibility of general corporate purposes borrowing while potentially still appealing to sustainability-minded investors. Companies will seek to finance their carbon transition plans with both use-of-proceeds and sustainability-linked bonds as relevant standards advance, although the definition of credible transition targets across a wide range of sectors remains a hurdle to rapid market growth.

Governmental policy will further support sustainable debt market growth and development in the year ahead, as governments around the world heighten their focus on climate change and link economic recovery plans with sustainable development goals. Europe will continue to lead the way with the EU Green Deal and development of a sustainable finance taxonomy, while the Biden administration’s policies will provide a boon for sustainable finance and investment in the US. China’s 14th Five-Year Plan and a commitment to carbon neutrality by 2060 also suggest a resumption of growth in sustainable debt volumes in that market.