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The Green Bond

Your insight into sustainable finance

The Green Bond is SEB's research publication that strives to bring you the latest insight into the world of sustainable finance.

Even though the publication covers all kinds of products and developments in the sustainable finance market, we decided to keep its historic name – "The Green Bond” – as tribute to our role as a pioneer in the Green Bond market.

The Green Bond report January 2024

In the latest issue of SEB’s The Green Bond report, we look at why transition investment has levelled off and explain why a renewed decline in prices across the transition supply chains suggests the setback will be temporary. The fact that sustainable debt transactions and clean energy equities have both bottomed out support this optimistic scenario. Last month was the strongest ever January for new sustainable debt transactions, with total issuance rising 14% from 2023. 

Transition investment set to recover after temporary setback

Global transition investment hit a new high in 2023, but the growth rate slowed and 2024 is still likely to see a temporary dip in investment. However, costs have started falling again and subsidies accelerate deployment. We still expect total investment to double by 2030.

Strongest ever January in debt, but ‘green equities’ still struggle

After the second year in the row of Y/Y decline, the sustainable finance market showed signs of life last month with the highest volume of new debt transactions ever for January. For equity markets, data points in the opposite direction, with clean energy stock underperforming the general market by 50% in the past 15 months.

Regulatory action to prevent and combat greenwashing risk

Greenwashing is generally understood as practices that exaggerate green credentials. In March, the EU’s Green Claims Directive is expected to be formally adopted, aiming to curb greenwashing through the requirement of verification for environmental claims for both products and entities.

Nordic issuers to update impact reporting guidance

To foster robust, transparent and pragmatic impact reporting practices, a group of Nordic issuers of green bonds cooperate on the topic, sharing their views in a position paper first published in 2017. A forthcoming update introduces new baseline emission factors as well as a set of recommendations to reflect recent market developments.

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