BAKU, Azerbaijan, May 23. Green bond issuance in Europe and Central Asia surged by 55 percent in 2023, Trend reports with reference to the latest International Finance Corporation (IFC)-Amundi Green Bond report.
This impressive growth was largely fueled by Türkiye, which saw its green bond sales skyrocket to $3.3 billion from just above $100 million in 2022. A significant portion of this increase is attributed to the sale of a $2.5 billion inaugural sovereign green bond in April.
The report also highlights robust issuance from other well-established green bond issuers in the region. Poland's green bond sales rose 2.6 times to $2.1 billion, while the Czech Republic nearly doubled its issuance to $1.1 billion. These increases helped counterbalance weaker dynamics in Hungary, where sales fell by 67 percent to $1.1 billion.
Additionally, North Macedonia marked its entry into the green bond market with an inaugural sovereign green bond in October, raising $10 million.
Despite the growth observed throughout 2023, overall green bond issuance in Europe and Central Asia reached $10.1 billion, which remains significantly below the $14.8 billion peak achieved in 2021. The report underscores the evolving landscape of green bond markets in the region, with new entrants and increased issuance from established players shaping the market dynamics.
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