Overall sustainable bond volumes fell for the first time on record but Australia has bucked the global trend.
Global sustainable debt issuance fell sharply last year for the first time since records began, with sustainable mergers and acquisition and equity capital market activity also contracting sharply.With the new government hinting it will explore its first sovereign green bond in 2023 and putting climate change firmly on the political agenda, Australia had 19 per cent more sustainable bond deals in 2022. However, the value of these deals fell by 49 per cent to $US5.6 billion , Refinitiv data says.
, but acknowledged this could be problematic given the government’s dependency on tax revenue borne from fossil fuel exports.Dr Chalmers said the government is already looking at whether Australia could sell green or sustainable bonds to borrow money from investors, but said the government is cognisant of international investor scrutiny on its earnings.
“We won’t be following suit just for the sake of it – it’s got to work for Australia. But we’re happy to hear the arguments,” he said.consider the merits in more detail.”
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