Green Bonds Highlights 2016

The 'Green Bonds Highlights 2016' fact sheet by the Climate Bonds Initiative reports that 2016 was a record-breaking year for the green bond market, with annual issuance aligned with international definitions reaching USD 81 billion. The document highlights the market's diversification across countries, issuer types, and sectors, noting the significant rise of China as a leading issuer and the emergence of sovereign green bonds, starting with Poland.

• In 2016, the green bond market reached record levels of issuance, with USD 81 billion raised in bonds aligned with international definitions. If 'excluded bonds'—such as those for reduced-emissions coal or large hydro—are included, the total issuance for 2016 rises to USD 92 billion. November 2016 was the largest single month on record with USD 11.8 billion in issuance.
• China emerged as the dominant player in the 2016 green bond market. Green debt raised by Chinese entities grew from less than USD 1 billion in 2015 to over USD 23 billion in 2016, representing more than a quarter of the total issuance. If excluded bonds are accounted for, China's share increases to 39%. The Bank of Communications (China) issued the largest single green bond ever at USD 4.3 billion.
• The market saw a diversification of issuer types and bond structures in 2016. Poland became the first country to issue a sovereign green bond (EUR 750 million in December 2016). Issuance from cities and municipalities grew from USD 4 billion in 2014 to USD 10.5 billion in 2016. New bond types appeared, including green covered bonds, the first green residential mortgage-backed security from Obvion, and the first Green Schuldschein from Nordex.
• The use of proceeds for green bonds became more evenly distributed across sectors in 2016. While Energy remained the largest category with USD 31 billion in investment, its share of the total decreased from 52% in 2015 to 38% in 2016. Investment in Water increased from 9% to 14%, while Transport and Buildings & Industry each grew their share by 2%.
• The Climate Bonds Initiative updated its standards to Version 2.1 to accommodate market growth, expanding the range of certifiable debt instruments to include Sukuk and Yieldcos. New sector criteria for Water, Geothermal, and Transport were finalized in 2016, with further criteria for Marine, Bioenergy, Hydropower, and Land Use planned for 2017.

APA

Climate Bonds Initiative (2017). Green Bonds Highlights 2016. https://www.climatebonds.net/files/documents/publications/2016-GB-Market-Roundup.pdf

Chicago

Climate Bonds Initiative. Green Bonds Highlights 2016. 2017. https://www.climatebonds.net/files/documents/publications/2016-GB-Market-Roundup.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bonds Highlights 2016 |date=January 2017 |url=https://www.climatebonds.net/files/documents/publications/2016-GB-Market-Roundup.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2017green, author = {{Climate Bonds Initiative}}, title = {{Green Bonds Highlights 2016}}, institution = {Climate Bonds Initiative}, year = {2017}, month = jan, url = {https://www.climatebonds.net/files/documents/publications/2016-GB-Market-Roundup.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }