RIYADH: Global sales of green bonds, the largest category of sustainable debt by amount issued, fell to a 19-month low in July.
According to data compiled by Bloomberg, green bond sales fell to about $24 billion in July from more than $45 billion the previous month.
This is the lowest since December 2020, when companies and governments issued about $7.7 billion in green debt.
This happened as opportunistic borrowers have also preferred traditional bond offerings that are faster to complete, Bloomberg reported.
This is also because July, August and December are historically considered the slowest issuance months for green bonds.
