ESG financiers are in fighting spirits as the $4 trillion market for socially responsible credit stays open while the broader primary market shutters on spiking recession risk.
Although volumes have dipped, sales of new green, social, sustainability and sustainability-linked bonds are growing as a share of overall issuance. They made up 9.44% of the more than $1 trillion volume of corporate bonds issued in US dollars this year through July 15, according to data compiled by Bloomberg. That compares to about 8.8% of the $2.5 trillion issued through all of 2021.
As the Federal Reserve’s tightening campaign amps up the ...