Asia Pacific (including Japan) posted a new record-high in green bonds fundraising for the first half of 2019 at $21.9 billion.
This marks a 30 percent year-on-year increase for the region, according to Refinitiv data, and a 25 percent market share of the total $86.4 billion in the period. In terms of issuances, China was the leading country at $8.3 billion with ICBC as the leading green bond bookrunner, raising $2.2 billion from three offerings.
Other noteworthy green bond markets in the region included South Korea ($3.9 billion, four-fold increase); Japan ($2.2 billion, 73 percent increase); and Southeast Asia (3.3 billion, 36 percent increase). Despite is size, Hong Kong also impressively raised $1 billion from its first-ever green bond offering which concluded in May this year.
Greater issuer mix
A major trend Refinitiv underlines is the increasing diversification of issuer types in the green bond market. In addition to government and financial institutions, players are increasingly entering the field from other sectors including tech, retail and telecommunications. The researcher highlights American examples such as Apple, Starbucks and Verizon Communications.
At the continental level, APAC ranks behind Europe’s $47.7 billion but ahead of Americas, which raised $16 billion.
In terms of deal arrangers, HSBC was the leading global bookrunner in the period by volume at $5.69 billion, slightly ahead of Credit Agricole CIB’s $5.46 billion. The two were followed by Bank of America Merrill Lynch ($4.7 billion), BNP Paribas ($4.66 billion) and J.P. Morgan ($4.01 billion).
