Climate change to drive expansion of governmental catastrophe bond market
The IMF says between 2001 and 2021 official actors issued more than $10bn in catastrophe bonds, of which nearly half were issued on behalf of sovereigns and the World Bank
Catastrophe bonds issued by sovereigns and other state-backed bodies now make up a quarter of outstanding bond issuances and the impact of climate change could increase the use of such securities in both developed and developing countries, experts say