“BBVA Global Markets Research has estimated that in late 2020 the stock of green, social and sustainable bonds had yet to reach $1tn out of a market total of $128tn. While this green exposure is rising fast from a low base, it is indisputably minuscule.”

[COMMENTARY]The writer seems to believe that ESG is partly a ‘marketing ploy’ among equity asset managers. He’s probably right to some extent. But he gives the impression that the bond markets are more sophisticated. Hence, the reason for green bonds being such a small proportion of total bond issuance.
Bonds are an ESG blind spot in investing, by John Plender, November 10, 2021, Financial Times, UK.