Social Bond Issuance Surges to Unprecedented Levels
S&P Global Ratings projects COVID-related relief efforts could push issues to exceed $500 billion this year-
The total sustainable debt market, which includes bonds issued to address climate and environmental goals, could hit a record $500 billion, up from $341 billion last year.
To fund programs to address the problem, governments, supranationals, and corporations, among others, have accelerated issuance of sustainable instruments--including social bonds, where issuance jumped nearly four times so far this year to US$71.9 billion from the 2019 level.
Poorer people, minorities, and women are suffering disproportionately from growing health, housing, income, and education gaps under measures to contain COVID-19 that could set them back for years to come.