Morgan Stanley has reported that a record $48.5 billion of ESG related bonds were issued in April.

The figure is double that of March and reflects a 272% increase over the volume in April 2019. The bank suggest the increase may be related to the need of firm’s to raise funds in the face of the coronavirus. Of the bonds issued, so called social bond issuance stood at $12.4bn up from zero in April 2019.