We anticipate a strong rebound in 2023 as demand for ESG debt continues to surge, IIF economist Khadija Mahmood and Director of Sustainability Research Emre Tiftik wrote in a Thursday report. With a softening U.S. dollar and easier global financial conditions anticipated international funding pressures should ease further.
The IIFs call comes even as conservative politicians in the U.S. push back against the industry, with Florida state officials going so far as to pledge a purge of such thinking from its pension funds.
While overall bond sale activity was tempered in 2022 as major central banks increased interest rates to combat inflation, ESG sales reached a record in emerging markets due governments including China, Turkey and Mexico, the IIF said.
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