Saturna’s Patrick Drum Contributes Article About Disappearance of Green Bonds to Financial Advisor Magazine

Patrick Drum, Fixed Income Lead and Portfolio Manager at Saturna Capital, recently contributed an article about the disappearance of green bonds to Financial Advisor, an industry-leading publication for top decision makers in the financial advisory field. 

Patrick’s piece, “A Silent Spring: The Disappearance of U.S. Green Bonds,” discusses the shifting landscape in the bond market and how it may affect current and future climate mitigation efforts. 

“Green bonds have been instrumental in channeling capital toward projects addressing climate change. However, issuance from U.S. financial institutions has dropped precipitously,” Patrick explains. “In Q1 2025, U.S. financial firms accounted for only 0.1% of global green bond issuance, a stark contrast to 13.5% and 9.0% in 2020 and 2021, respectively.”

From there, Patrick discusses the nature of this striking disappearance and discusses what alternatives investors may need to look for to mitigate the impact of this change. “U.S. investors may need to look beyond their borders to find sufficient green bond opportunities,” he notes. 

The piece concludes by calling attention to the need for more climate mitigation projects in the face of a changed bond market. “The decline in U.S. green bond issuance marks a significant shift, reducing the investable universe for U.S.-focused fixed income investors and underscoring challenges in climate risk management,” Patrick explains. “As global temperatures rise, capital allocation toward climate mitigation projects is more urgent than ever.”

The full article is available over on Financial Advisor.