(21 December 2023 – Global) ESG bank primary market activity is forecast to remain robust in 2024 despite not reaching the heights of what was a prosperous 2023 as a result of constrained lending growth.
ING reports Banks remained very active in the sustainable bond market in 2023. By the end of October, credit institutions across the globe had issued over €70 billion in EUR sustainable bonds. This is more than €10 billion higher year-on-year (YOY).
ING forecasts green, social and sustainability issuance of banks to reach €80 billion in 2023 this year, up €8 billion versus 2022.
“While banks will still issue notable amounts of sustainable debt in 2024, slower lending growth will probably make it difficult for them to continue to issue at the same pace as this year. We expect to see slightly less sustainable supply next year, despite our forecasted modest rise in total bank supply” said ING Head of Financials Sector Strategy, Maureen Schuller.
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