MUMBAI: The issuance of coronavirus-related social and sustainability bonds reached record-highs in the first quarter of calendar 2020 as multilateral development banks (MDBs) turned to these instruments to finance their fight against the deadly virus, according to a report by Moody’s Investors Service.
However, green bond issuance declined significantly. During January-March, social bond issuance reached $11.9 billion, more than double the previous quarterly record, while sustainability bonds recorded strong inflows worth $13.4 billion.
Green bond volumes fell nearly 37% year-on-year (YoY) to $33.9 billion in the March quarter. While MDBs began issuing coronavirus-related social and sustainability bonds in March, green bond volumes