Sustainable loan quarterly issuance

A quarterly analysis of loan volumes over the period Q2 2023 to Q1 2024 shows that overall sustainable loan volumes peaked in Q2 2023, with over $200 billion issued, and that sustainability-linked loans (SLLs) continued to make up the largest segment of the market in every quarter.

Volumes slumped in Q3 2023, however, driven by a sharp fall in sustainability-linked instruments. This downturn was partly offset by an upswing in green loan volumes, which increased markedly over the same period. In Q4 2023 these increases in green loan volumes were maintained and sustainability-linked loan volumes recovered somewhat to push overall volumes up. Although sustainability-linked loan volumes continued to grow into Q1 2024, a sharp decrease in green loans meant that overall volumes contracted in Q1 2024. In every quarter, social and sustainability instruments made up a fraction of the market.