OVERVIEW - Weak 9-mo for green bonds, but October breaks record

About USD 26.25 billion (EUR 23.8bn) of green bonds have been issued in the first nine months of 2015, which is a bit disappointing given expert forecasts. October, however, marked a record in monthly issuance so there is still hope for notable year-on-year growth.

SEPTEMBER & OCTOBER

September was in fact the worst month for green bonds this year, with just USD 780 million issued. October, in contrast, has been the best month so far in 2015. According to preliminary figures on the Climate Bonds Initiative (CBI) website, issuance for the month has surpassed USD 5.15 billion. The table below contains some of the main renewable energy-related bonds for the two months.

FULL YEAR

The CBI earlier this year said it expected green bond issuance in 2015 to reach USD 70 billion, with a stretch target of USD 100 billion. The market, however, has been relatively slow. The not-for-profit organisation told SeeNews Renewables it expects more announcements between now and the Paris climate change conference (UN COP 21) so it will hold its “final judgement” until then.

In 2014, green bond issuance tripled to USD 36.6 billion from USD 11 billion in 2013.

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