Globally, the volume of green bond and loan issuance rose sharply from USD171 billion in 2018 to USD259 billion in 2019, buoyed by strong interest from both investors and issuers. Mirroring this trend, ASEAN issuance has almost doubled in 2019, reaching USD8.1 billion from USD4.1 billion in 2018. Cumulative ASEAN issuance since 2016, when the region saw its first green bond issuance, stands at USD13.4 billion, representing 3 per cent of the global total and 12 per cent of the Asia-Pacific issuance.
Following Climate Bonds Initiative’s (CBI) first ASEAN Green Finance State of the Market report published in 2018, this report reviews the progress made across the regional green finance landscape and emerging opportunities for more green bonds, loans and sukuks in the ASEAN nations. It analyses green bond and loan issuance and policy developments in the region, provides examples of the wider labelled bond market in the region, and includes a contribution from the Asian Development Bank’s ASEAN+3 Asian Bond Markets Initiative (ABMI) about its work supporting the growth of the local green bond markets in ASEAN. The report also provides country-level overviews and policy updates for Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, and, in addition to the 2018 report, Cambodia, Laos, and Myanmar.