Deutsche Bank has led three green bond issues in the past week despite a sharp drop in issuance this year.
The deals are a 600 million euro bond for Assicurazioni Generali, a 500 million euro bond for NEPI Rockcastle and a 500 million dollar bond for Kimco Realty. New green issues amount to just under 70 billion US dollars in the first six months of this year compared with 125 billion US dollars in the same period last year.
Deutsche says that during the pandemic issuers have been less likely to want to segregate funding to green assets so they can retain a pool of liquidity in case required for the crisis. However, the market has seen a remarkable increase in social and sustainability bonds, particularly from sovereigns looking to raise proceeds to finance policies around the pandemic.