ESG-BOND MARKET: TRENDS, STRUCTURE AND SPECIFICS

The article analyzes the ESG bond market: green, sustainable and social bonds. Purpose. The aim of the article is to identify the trends in the ESG bond market. Methods. The paper is used statistical method of graphical presentation of data. The size of this market, its dynamics and the structure of issuers are assessed. The leading countries in terms of ESG bonds issued are revealed. The ESG bond market is analyzed using the Climate Bonds Initiative database for 2014-2023. Results. The results show that the ESG bond market is a young and rapidly growing part of the financial market, but its share in the global economy is currently very small. Green bonds have the largest share of this market, which focus on positive environmental and climate outcomes. However, the share of social and sustainable bonds, which focus on projects with both social and environmental positive outcomes, has increased significantly in recent years. Main conclusions. The small share of the ESG bond market, its exposure to the global economic conjecture, greenwashing and the need for government involvement make it necessary to revisit the traditional approach based on specialized bond issuance and market regulation to finance a new model of economy set by the UN Sustainable Development Goals.