Finance
Europe Plans Over $100 Billion in Social Bonds to Fund Recovery
- Bloc to start issuance this month in 100-billion-euro program
- Virus has made social bonds fastest growing sustainable market
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The European Union looks set to launch a foray into social bonds, a market that has already swelled four-fold this year to fund projects to help societies recover from the coronavirus.
The bloc’s first ever social bond sale is expected to come in the second half of October, as part of up to 100 billion euros ($118 billion) of debt to fund short term work schemes. The need to borrow to cope with the virus has made such debt the fastest-growing part of sustainable finance this year.