The market for green bonds, which are used to finance environmental projects, was a bit weak in the third quarter (Q3 2018) but social and sustainability bond issuance rose, according to the latest data from the International Capital Market Association (ICMA).
Sixty-one issuers using 13 different currencies issued US$19.41 billion worth of green bonds during the quarter. Through the first three quarters of 2018, green bond issuance totalled US$92 billion, involving 190 issuers, the ICMA reports.
There were US$5.43 billion worth of social bonds, which raise funds for projects designed to create positive social outcomes, issued during Q3 2018. This represents just over half the year to date total of $10.6 billion in social bond issuance.
Additionally, there were $3.5 billion worth of sustainability bonds launched from nine issuers in Q3 2018, bringing year-to-date issuance to US$11.7 billion from 20 issuers. Sustainability bonds are used to finance or re-finance projects that combine green and social objectives.