Investment banks have rushed to cash in on the surge in sustainable and green financing throughout 2020. Now, as banks establish new teams in this area, issuance has reached all-time highs.

Companies issued more sustainable and green bonds than at any point in history during the third quarter, according to new data from Refinitiv. Sustainable bonds hit $154.8bn, the figures show, while the $76.5bn in green bonds issued was also the highest since the data provider started tracking the numbers.