What’s happening: Social bonds have raised more than $163 billion this year, more than 10 times the $13 billion raised in 2019, according to a report from law firm Linklaters. The coronavirus pandemic has been the primary driver of the exponential growth in the asset class.
“Social bonds emerged as a useful tool in the fight against the pandemic by mitigating the socio-economic impact of the crisis,” said Linklaters capital markets partner Richard O’Callaghan.
The European Union was the largest issuer of social bonds, raising $47.3 billion across five deals. Other major fundraisers included the Asian Development Bank, as well … Read More