A $1.8 trillion corner of the sustainable debt market is defying the wider downturn as investors snap up bonds sold largely by US government agencies even as Donald Trump leads a green retreat.
Sales of so-called social bonds, which direct proceeds to areas like health, housing and education, jumped about 130% to $657 billion globally last year, and continued at a similar pace in the first quarter, according to data compiled by Bloomberg Intelligence. Issuance now rivals the traditionally larger market for green bonds, the data show.
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