Global sustainable finance soared 58% to a record $139.8bn in 2017. The increase was attributed to Q4 volume of $42.8bn, the highest quarter on record.
Corporate issuance grows
Global corporate sustainable finance jumped 76% to a record $44.1bn, with EMEA accounting for 47.3% of such volume. While green bond issuance grew, the average deal size, however, decreased 7% from $340m in 2016 to $315m in 2017. Altogether, corporate sustainable finance bonds accounted for 31.6% of the total sustainable finance market.
Utility & energy continued to drive global corporate sustainable finance, however, forestry & paper and construction & building were the most noteworthy industries in terms of growth. Forestry & paper rose 230% from $615m via 2 deals to $2.0bn via 6 deals in 2017, while construction & building rose 4,875% from $24m via 1 deal to $1.2bn via 10 deals in 2017.
Green bonds dominate the market
Similarly, global green bonds reached a record volume of $121.9bn and accounted for 87.1% of the total sustainable finance market. 2017 volume soared 53% to a full-year record, and activity increased 84% year-on-year. Ultimately, EMEA drove the record with $57.1bn issued in 2017, followed by APAC with $43.4bn.
China facilitated the largest number of green bonds in 2017, totaling $30.9bn via 82 deals—with 50 debut issuances. As a result, emerging markets issued a record $47.2bn of green bonds, accounting for 38.7% of global volume.
Sustainable finance full-year 2017 rankings
| 2017 Global Sustainable Finance Bonds Ranking by Value | ||||
|---|---|---|---|---|
| Date | Issuer | Value | Type | Debut |
| Jan 24 | Republic of France | $7.51bn | Green | Yes |
| Sept 13 | Mexico City Airport Trust | $4.00bn | Green | No |
| Oct 26 | Bank of Communications | $3.01bn | Green | No |
| Nov 28 | Bank of Beijing | $2.27bn | Green | No |
| May 31 | Nederlandse Waterschapsbank | $2.23bn | Social | Yes |
| May 9 | KfW | $2.20bn | Green | No |
| Apr 17 | Bank of Beijing | $2.18bn | Green | Yes |
| Sep 28 | Industrial & Comm. Bank of China | $2.14bn | Green | Yes |
| Feb 27 | North Rhine Westphalia | $1.93bn | Sustainability | No |
| Nov 9 | China Development Bank | $1.66bn | Green | No |
For 2017 bookrunner rankings for the sustainable finance and green bonds market, contact us for the full report below.
Data source: Dealogic, as of January 1, 2018
Contact us for underlying trends of the sustainable finance and green bond market. Learn more about the Dealogic platform.
*Sustainable Finance includes green, social, and sustainability bonds (proceeds of sustainability bonds are split between green and social projects)