绿色、社会和可持续主权债券：发展贴标债券市场的中坚力量

This report by the Climate Bonds Initiative analyzes the issuance of labeled sovereign bonds (green, social, and sustainability) based on a survey of 19 issuers. It finds that while these bonds are primarily driven by climate goals and the desire to stimulate local markets, they are typically used to fund existing budget items rather than new projects. The report highlights the critical role of ministers and inter-departmental working groups in the issuance process and emphasizes that labeled sovereign bonds can increase transparency, diversify investor bases, and catalyze private investment in sustainable assets.

• The report identifies a significant gap in the market: only two of the ten largest global sovereign bond issuers had issued labeled sovereign bonds as of the reporting period.

APA

Harrison, C., & Muething, L. (2021). 绿色、社会和可持续主权债券：发展贴标债券市场的中坚力量. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/%E7%BB%BF%E8%89%B2%E3%80%81%E7%A4%BE%E4%BC%9A%E5%92%8C%E5%8F%AF-%E6%8C%81%E7%BB%AD%E4%B8%BB%E6%9D%83%E5%80%BA%E5%88%B8%EF%BC%9A-%E5%8F%91%E5%B1%95%E8%B4%B4%E6%A0%87%E5%80%BA%E5%88%B8%E5%B8%82-%E5%9C%BA%E7%9A%84%E4%B8%AD%E5%9D%9A%E5%8A%9B%E9%87%8F_2025-01-07-172432_alac.pdf

Chicago

Harrison, Caroline, and Lea Muething. 绿色、社会和可持续主权债券：发展贴标债券市场的中坚力量. Climate Bonds Initiative, 2021. https://www.climatebonds.net/files/documents/publications/%E7%BB%BF%E8%89%B2%E3%80%81%E7%A4%BE%E4%BC%9A%E5%92%8C%E5%8F%AF-%E6%8C%81%E7%BB%AD%E4%B8%BB%E6%9D%83%E5%80%BA%E5%88%B8%EF%BC%9A-%E5%8F%91%E5%B1%95%E8%B4%B4%E6%A0%87%E5%80%BA%E5%88%B8%E5%B8%82-%E5%9C%BA%E7%9A%84%E4%B8%AD%E5%9D%9A%E5%8A%9B%E9%87%8F_2025-01-07-172432_alac.pdf.

Wikipedia

{{cite report |last1=Harrison |first1=Caroline |last2=Muething |first2=Lea |title=绿色、社会和可持续主权债券：发展贴标债券市场的中坚力量 |publisher=Climate Bonds Initiative |date=January 2021 |url=https://www.climatebonds.net/files/documents/publications/%E7%BB%BF%E8%89%B2%E3%80%81%E7%A4%BE%E4%BC%9A%E5%92%8C%E5%8F%AF-%E6%8C%81%E7%BB%AD%E4%B8%BB%E6%9D%83%E5%80%BA%E5%88%B8%EF%BC%9A-%E5%8F%91%E5%B1%95%E8%B4%B4%E6%A0%87%E5%80%BA%E5%88%B8%E5%B8%82-%E5%9C%BA%E7%9A%84%E4%B8%AD%E5%9D%9A%E5%8A%9B%E9%87%8F_2025-01-07-172432_alac.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{harrison2021, author = {Harrison, Caroline and Muething, Lea}, title = {{绿色、社会和可持续主权债券：发展贴标债券市场的中坚力量}}, institution = {Climate Bonds Initiative}, year = {2021}, month = jan, url = {https://www.climatebonds.net/files/documents/publications/%E7%BB%BF%E8%89%B2%E3%80%81%E7%A4%BE%E4%BC%9A%E5%92%8C%E5%8F%AF-%E6%8C%81%E7%BB%AD%E4%B8%BB%E6%9D%83%E5%80%BA%E5%88%B8%EF%BC%9A-%E5%8F%91%E5%B1%95%E8%B4%B4%E6%A0%87%E5%80%BA%E5%88%B8%E5%B8%82-%E5%9C%BA%E7%9A%84%E4%B8%AD%E5%9D%9A%E5%8A%9B%E9%87%8F_2025-01-07-172432_alac.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }