(Finance) – Le Sustainable Finance bonds they totaled $259 billion during first quarter of 2024, an increase of 9% over 2023 levels and the strongest start to the year since the first quarter of 2021. By number of issues, volume increased 14% compared to the first quarter of 2023. As a percentage of proceeds from Global Debt Capital Markets, sustainable finance bonds accounted for 9% of overall DCM activity during the first quarter of 2024, down from 10% a year ago. This is what emerges in a report by LSEG D&A.
The types of bonds
Going into detail, the bond issue green amounted to $145.7 billion, a 12% increase from year-ago levels and the strongest first quarter since data became available in 2015. In terms of the number of issues, they were brought to market 296 green bonds, up 7% from a year ago and the highest volume ever recorded in a first quarter.
The issue of social bonds amounted to $33.8 billion during the first quarter of 2024, an increase of 11% compared to the first quarter of 2023. By number of issues, social bond volume increased 22% compared to a year ago.
The issue of sustainability bonds reached $58.4 billion in the first quarter of 2024, an increase of 37% from first quarter 2023 levels. The number of sustainable bonds increased 7% compared to the first quarter of 2023, marking the highest of the last two years.
The characteristics of the issuers
Recording a 5% increase compared to a year ago, issuers corporate they accounted for 53% of issuances in the first quarter of 2024, down from 55% a year ago. The emissions of public and sovereign bodies they increased 16% compared to the first quarter of 2023 and represented 46% of overall first quarter activity.
The issuers Europeans they represented the largest market for Sustainable Finance bonds with a 57% market share during the first quarter of 2024, compared to 20% in the Americas and 17% in Asia Pacific.
BNP Paribas took first place in‘underwriting of Sustainable Finance bonds with a market share of 6.7% in the first quarter of 2024, down 0.5 points of market share from a year ago. JP Morgan moved to second place from fifth while Quote it moved to third from fourth a year ago. BofA And Credit Agricole they completed the top five bookrunners in the first quarter of 2024. The top ten underwriters represented 44% of the overall market during the first quarter of 2024, down from 45% a year ago.