Green Deals Surge in Emerging Markets to Mitigate Oil Shock

The war in the Middle East is leading to a burst of momentum for green bonds in emerging markets, as countries look to fund renewable energy projects to mitigate the surge in the cost of oil.

Issuance of green bonds from developing countries jumped 53% in the first four months of this year to $24 billion, the most since a record haul in 2023, according to data compiled by Bloomberg. That’s been boosted by the busiest April ever.