Mubasher: The issuances of green, social, and sustainability bonds by global financial institutions and development banks will reach around $300 billion in 2021, Moody's Investors Service referred in its report published on Thursday.

This amount reflects an around 30% rise in the value of green, social, and sustainability bonds, when compared to $225 billion in 2020.

The expected increase in issuance is driven by a historic high in sustainable bond issuances during 2020.

However, the coronavirus (COVID-19) pandemic-related jump in social and sustainability bond placements led to a slight decrease in green bond volumes.

Moody's forecast that issuances of green bonds will renew their momentum in 2021 amid supportive government policies in the EU, the US, the UK, and China and strong investor demand after recording lower growth last year.

The Managing Director at Moody's, Carola Schuler, said: "We expect financial institutions' issuance of use-of-proceeds sustainable bonds to approach a fresh record this year, aided by a growing regulatory focus on ESG factors that encourages more financial institutions to issue sustainable bonds."