France returns to top of global green bond ranking

(EurActiv, 26 Jun 2019) With more than €15 billion worth of green bonds issued since January, France has become a leader of green finance, ahead of the US and the Netherlands. EURACTIV’s partner La Tribune reports.

Since the start of this year, France has been the leading issuer of green bonds with $15.3 billion (around €13.4 billion), meaning it has regained its world champion title in green financing. This is according to a ranking published on Tuesday (25 June) by the British non-profit organisation Climate Bonds Initiative.

France has thus overtaken the US, the leader in 2018 and during the first quarter of 2019. It has also overtaken the Netherlands, which successfully issued its first government green bond worth €6 billion last May.

The green bond market consists of loans issued on the markets to finance projects that are exclusively ‘green’. These projects will have a positive impact on the climate and/or environment (renewable energies, reduction of CO2 emissions, etc.), and are accompanied by monitoring and reporting requirements.

This year, the green bond market has seen an incredible upswing. Last week, the volume of green bonds being issued exceeded $100 billion, and this in less than six months. This could well set a new record for the year.

“This is the first time we have achieved this milestone in the first half of the year,” said Sean Kidney, executive director of the Climate Bonds Initiative.

This milestone for the year was reached in September 2018 and November 2017 for the first time. This bodes well for the rest of this year.

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EurActiv, 26 Jun 2019: France returns to top of global green bond ranking