Issuance of Green, Social, and Sustainability GSS bonds in ASEAN reached a record high of $12.1 billion in 2020, marking a 5.2% year-on-year increase, according to a report by the Climate Bonds Initiative, supported by HSBC.
The GSS market composition showed a marked difference from previous years while green labelled debt continues to dominate, sustainability bonds rose in prominence.
Singapore remained the leader of GSS issuance in 2020, said the report, representing 53% of the region’s issuance. Thailand and Indonesia also experienced significant growth.
ASEAN’s growth prospects are uncontested and despite the unprecedented circumstances in 2020, the market proved its strength and...