Companies globally have raised $12.9 billion through issue of 'green bonds' in the April-June quarter of 2015 and going ahead more such issuances are likely to come from India, Moody's Investors Service said on Wednesday.
It said based on issuance volumes in first half of 2015, as well as expectations of continued offerings in China and India, green bond volumes for 2015 are highly likely to exceed and could even double last year's record volume of $37 billion.
“Green bonds raised approximately $12.9 billion during the second quarter of 2015, bringing year-to-date totals to roughly $19.2 billion,” Moody's Investors Service said in a report. In January-March of 2015, green bonds worth $6.3 billion had hit the market.
The report said $12.9 billion was raised during the second quarter via 49 transactions executed by 36 distinct issuers. Of this sum, approximately $6.1 billion hit the market in June. Proceeds from green bond issuance were earmarked for a variety of projects, including renewable energy and energy efficiency, financing hybrid and electric automobiles, and public wastewater treatment and drinking water projects.