2015 Green Bond Market Update

The 2015 Green Bond Market Update reports a diversifying market with significant growth in emerging markets like India and China. In 2015, corporate issuers grew to 36% of the market, and November 2015 marked a record $7.4 billion in issuance. The majority of funds are allocated to renewable energy (45.8%) and energy efficiency (19.6%).

• The green bond market experienced increased diversity in 2015, particularly with a rise in issuance from emerging market domiciled issuers. India saw early market entries from Yes Bank, Export-Import Bank of India, and IDBI, while China issued an off-shore corporate green bond via Goldwind and its first on-shore green bond through the Agricultural Bank of China.
• The composition of green bond issuers shifted away from the early market dominance of AAA-rated development banks. In 2015, corporates accounted for 36% of issuance, municipalities for 15%, and banks for 12%.
• November 2015 was the highest month for green bond issuance on record, with $7.4 billion issued.
• Green bond proceeds are primarily directed toward renewable energy and energy efficiency. Renewable energy accounts for 45.8% of proceeds, followed by energy efficiency at 19.6%, low carbon transport at 13.4%, sustainable water at 9.3%, waste and pollution at 5.6%, climate adaptation at 4.1%, and agriculture and forestry at 2.2%.
• The Climate Bonds Certification scheme is used to verify that funds finance a low carbon and climate resilient economy, aiding investor decision-making. Entities that chose certification for their inaugural green bonds include National Australia Bank (NAB), ANZ Bank, ABN Amro, Big60million, and Nacional Financiera.

APA

Climate Bonds Initiative (2015). 2015 Green Bond Market Update. https://www.climatebonds.net/files/documents/publications/GB-MarketUpdate-2015-Final-01.pdf

Chicago

Climate Bonds Initiative. 2015 Green Bond Market Update. 2015. https://www.climatebonds.net/files/documents/publications/GB-MarketUpdate-2015-Final-01.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=2015 Green Bond Market Update |date=2015 |url=https://www.climatebonds.net/files/documents/publications/GB-MarketUpdate-2015-Final-01.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative20152015, author = {{Climate Bonds Initiative}}, title = {{2015 Green Bond Market Update}}, institution = {Climate Bonds Initiative}, year = {2015}, url = {https://www.climatebonds.net/files/documents/publications/GB-MarketUpdate-2015-Final-01.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }