Green bond sales in Asia have lagged the rest of the world in 2020 but that may change next year as some of the biggest economies accelerate their drive to cut carbon emissions, according to Fitch Ratings.

Issuance of notes in Asia whose proceeds are aimed at environmentally friendly projects has dropped about 30% this year, even as green bond sales globally have increased, according to data compiled by Bloomberg. With pledges from countries like China and Japan to become carbon neutral in the coming decades, the focus will be back on green debt in 2021 after a surge in sustainable and social bond sales in 2020 due to the pandemic, said Mervyn Tang, global head of ESG research at Fitch.


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