Financial Well-being and Sustainable Growth

NOMURA Headwinds: Monetary tightening impact on SDG bond market Monetary tightening has led to higher government bond yields and increased volatility in bond market (%) 4.0 Issuance of SDG bonds has slowed globally1 (billions of dollars) Tapering Start of 200 QT 350 Issuance boom spurred by Covid, etc. Changing issuance environment 3.0 US MOVE Index (rhs) 300 160 250 120 200 10-Yr Treasuries 2.0 10 1.0 1. 0.0 2020 2021 80 08 40 40 US FF rate Source: Bloomberg New Energy Finance (as of Jun 30, 2022). 150 100 50 50 0 0 2022 2020 2021 2022 4

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