Green Bond Highlights 2017

In 2017, global green bond issuance reached USD 155.5 billion, a 78% increase over 2016. The market was led by the US, China, and France, with a notable rise in sovereign issuance and the emergence of new issuers from 37 countries. While renewable energy remains the primary use of proceeds, there was significant growth in allocations for low carbon buildings and transport. The report highlights a push toward harmonized international standards and forecasts a need for the market to reach USD 1 trillion by 2020 to impact climate targets.

• Global green bond issuance in 2017 totaled USD 155.5 billion, representing a 78% growth compared to 2016 figures.
• The United States, China, and France were the dominant markets, collectively accounting for 56% of all 2017 issuance. The US Agency Fannie Mae was the largest single issuer, contributing USD 24.9 billion through Green Mortgage-Backed Securities (MBS).
• Sovereign green bond issuance increased in 2017, highlighted by France's record-breaking EUR 9.7 billion (USD 10.7 billion) deal, Fiji's USD 50 million issuance, and Nigeria becoming the first African nation to issue a sovereign green bond (USD 30 million).
• China's 2017 issuance reached USD 36.4 billion, with USD 22.5 billion aligned with international green bond standards. However, USD 13.9 billion in Chinese issuance was excluded from the report's primary figures due to a lack of alignment with international standards.
• While renewable energy remains the most common use of proceeds, allocations for low carbon buildings and energy efficiency grew 2.4 times year-on-year to account for 29% of 2017 proceeds, and low carbon transport volumes almost doubled.
• Sub-sovereign issuance, including local governments and government-backed entities, accounted for 21% of 2017 volume. US Municipal bonds specifically comprised 33% of this sub-sovereign category (excluding Fannie Mae).
• Efforts to harmonize green finance standards are underway, including the European Commission's High-Level Expert Group on Sustainable Finance, a white paper on convergence between European and Chinese standards by the EIB and China’s Green Finance Committee, and the launch of the ASEAN Green Bond Standards.
• The report estimates that the green bond market must reach USD 1 trillion by 2020 to have a substantial impact on climate targets, forecasting 2018 issuance to be between USD 250-300 billion.

APA

Climate Bonds Initiative (2018). Green Bond Highlights 2017. https://www.climatebonds.net/files/documents/publications/Green-Bond-Highlights-2017.pdf

Chicago

Climate Bonds Initiative. Green Bond Highlights 2017. 2018. https://www.climatebonds.net/files/documents/publications/Green-Bond-Highlights-2017.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Highlights 2017 |date=January 2018 |url=https://www.climatebonds.net/files/documents/publications/Green-Bond-Highlights-2017.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Highlights 2017}}, institution = {Climate Bonds Initiative}, year = {2018}, month = jan, url = {https://www.climatebonds.net/files/documents/publications/Green-Bond-Highlights-2017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }