Investors and issuers have been slow to embrace the integration of environmental, social and governance ESG issues in fixed income, but regulatory pressure and a shift in investment patterns are now leading a change, according to Carmen Nuzzo, head of fixed income at the Principles for Responsible Investment PRI.
The volume of ESG bonds has certainly grown dramatically. Global issuance surpassed $250 billion last year about 3.5% of total bond issuance, according to the Bank for International Settlements while by the end of August, issuance this year was up around 6% at $157 billion, according to DBRS Morningstar.
“We are actually seeing a revolution, away from...
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