This would follow a record $42.4 billion issuance in 2015.

The proceeds from so-called green bonds help finance projects such as renewable energy, the energy efficiency sector, green transport and wastewater treatment.

In the fourth quarter of last year, the issuance of green bonds reached $15.2 billion, the strongest quarterly volume of the year, boosted by activity by financial institutions ahead of talks in Paris in December to secure a global climate agreement.

This helped raise last year’s total issuance to its highest ever level since the market began in 2007, a report by Moody’s Investor Service said.

The global climate summit in Paris late last year agreed a landmark deal, committing both rich and poor nations to rein in rising emissions blamed for global warming.

Available at: http://www.reuters.com/article/climatechange-greenbonds-moodys-idUSL8N15H3H9