Finance

Green bond issuance in emerging markets surged by 34% in 2023

Green bond issuance in emerging markets surged by 34% in 2023
Monday, 27 May 2024 15:55

Green bond issuance in emerging markets rose by 34% in 2023, reaching $135 billion, up from $101.2 billion in 2022. Financial institutions were the largest issuers, using most of the proceeds to finance sustainable energy, buildings, and transportation.

Amundi, a major asset manager, and the International Finance Corporation (IFC) revealed these figures in a report published on May 22, 2024. For the second consecutive year, financial institutions led green bond issuance in emerging markets in 2023. They were followed by states and corporations, although the latter two reduced their green bond issuance by 32% and 21%, respectively.

China remained the dominant issuer among emerging markets, a position it has held since 2012. Sub-Saharan Africa ranked last in green bond issuance. Most of the funds raised through these green bonds were allocated to renewable energy projects (37.6% of total funds), sustainable buildings (29.4%), water projects (12.5%), and transportation (11.7%).

"To achieve these goals, substantial efforts must be made to ensure continued growth in the global green, social, sustainability, and sustainability-linked bonds market, including enhancing regulations and standardizing best practices," commented Susan Lund, IFC's Vice President of Economics and Private Sector Development.

The report also projected continued growth in green bond issuance in emerging markets through 2025, with an expected annual growth rate of 7.5%. This growth will be driven by factors such as the acceleration of the energy transition, competitive pricing advantages for issuers compared to developed markets, and favorable macroeconomic conditions.

On the same topic
I&M Group raises stake in I&M Bank Tanzania to 95.5% Deal follows exit of Proparco and MEAL after 15 years Group bets on growth in...
SEC sharply increases capital thresholds across the securities industry Brokers, asset managers, issuers, and digital asset firms face higher...
PCM Capital Partners sold its entire 10.6% stake in First Atlantic Bank following an oversubscribed IPO on the Ghana Stock Exchange. The...
Libya’s central bank cut the dinar by 14.7% to 6.37 per dollar, marking the second devaluation in less than a year. Authorities cited unchecked...
Most Read
01

Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...

Togo accounts for 16.2% of cross-border bank financing in WAEMU
02

Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...

Stripe-Owned Paystack Enters Nigerian Microfinance Banking Via Acquisition
03

Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...

Microfinance: Deposits in Togo Rise 2.7% in Second Quarter of 2025
04

Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...

Amazon wins approval to enter Nigeria’s satellite internet market
05

Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...

Tether and UNODC Launch Digital Asset Cybersecurity Initiative in Africa
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.