green bonds: key numbers and trends - moodys.com · sources: climate bonds initiative, moody's...

Green Bonds: Key Numbers and Trends

For more information on Green Bonds visit moodys.com/GreenBonds

Growing diversity in green bond transactions as market maturesGlobal Green Bond Issuance by Use of Proceeds, % Total

Source: *2018 represents Moody's forecast for total global green bond issuance. Sources: Climate Bonds Initiative, Moody's Investors Service

After hitting record numbers in 2017, the Green Bond market looks set to grow by 60% in 2018. However, first quarter green bond issuance has fallen year on year in tandem with broader bond market issuance falls.

$122013

$372014

$442015

$872016

$1612017

$2502018*

2018 will be another record breaking year for green bond issuanceTotal Issuance ($ billion)

Q1 2018 bond issuance by country:US issuers lead in well diversified quarter

13%

7%1%

8%

14%

22%

21%

15%

ABSNon-Financial CorporateFinancial CorporateDevelopment BankGovernment-backed EntityLocal GovernmentSovereignLoan

United States

Non-financial corporates and ABS lead 2017

green bond issuance

2018 green bond issuance YTD trailing 2017 volumes

Efficiency

Renewable Energy

Transport

Water

Waste

Sustainable Land Use

Adaptation

29%

33%

15%

13%

4%

3%

3%

24%

59%

7%

5%

3%

2%

1%

2013 2017

2017 2013

Sector breakdown is provided by the Climate Bonds Initiative.

2018 Monthly Issuance ($ Billions)2017 Monthly Issuance ($ Billions)

Belgium

Supranational

China

Italy

France

All others

$0

$2

$4

$6

$8

$10

$12

$14

$16

January February March

Mon

thly

Issu

ance

($ B

illio

ns)

21%19%

9% 8%5% 5%

34%

0%

5%

10%

15%

20%

25%

30%

35%

40%