GREEN BONDS GLOBAL STATE OF THE MARKET 2019

In 2019, the global green bond market reached a record USD258.9 billion in issuance, a 51% increase over 2018. The market saw significant growth in non-financial corporate issuance and the entry of eight new countries. Europe led in cumulative volume, while the USA, China, and France remained the top individual countries by amount issued. Energy, buildings, and transport dominated the use of proceeds, accounting for 82% of the total. The report also notes a rise in green sukuk and the increasing importance of external reviews and Climate Bonds Standard certification.

• Global green bond issuance in 2019 reached USD258.9 billion, representing a 51% increase from the USD171.2 billion issued in 2018. The total cumulative issuance since 2007 stands at USD754 billion across 5,931 deals.
• The USA, China, and France were the top three countries by amount issued in 2019, with the USA leading at USD51.3 billion, followed by China at USD31.3 billion and France at USD30.1 billion. France experienced the largest relative increase, more than doubling its issuance volume.
• Non-financial corporates became the top issuer type for the first time in 2019, with issuance more than doubling to USD59.1 billion. Green loans also saw significant growth of 98%.
• Energy, Buildings, and Transport were the dominant categories for use of proceeds, collectively accounting for 82% of the total 2019 issuance. Buildings saw the largest absolute increase of USD30.1 billion.
• The market expanded geographically with eight new countries issuing green bonds in 2019: Barbados, Ecuador, Greece, Kenya, Panama, Russia, Saudi Arabia, and Ukraine, contributing a combined USD3.1 billion.
• External reviews were utilized for 86% of the volume issued in 2019. Second party opinions (SPO) remained the most preferred option, while Certification under the Climate Bonds Standard grew to 17% of the market volume, surpassing the USD100 billion cumulative milestone.
• Green sukuk volume more than tripled in 2019 to reach USD4.3 billion, involving eight issuers across four countries, primarily funding renewable energy projects.

APA

Almeida, M. (2020). GREEN BONDS GLOBAL STATE OF THE MARKET 2019. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/Green-Bonds-Global-State-of-the-Market-2019.pdf

Chicago

Almeida, Miguel. GREEN BONDS GLOBAL STATE OF THE MARKET 2019. Climate Bonds Initiative, 2020. https://www.climatebonds.net/files/documents/publications/Green-Bonds-Global-State-of-the-Market-2019.pdf.

Wikipedia

{{cite report |last1=Almeida |first1=Miguel |title=GREEN BONDS GLOBAL STATE OF THE MARKET 2019 |publisher=Climate Bonds Initiative |date=July 2020 |url=https://www.climatebonds.net/files/documents/publications/Green-Bonds-Global-State-of-the-Market-2019.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{almeida2020green, author = {Almeida, Miguel}, title = {{GREEN BONDS GLOBAL STATE OF THE MARKET 2019}}, institution = {Climate Bonds Initiative}, year = {2020}, month = jul, url = {https://www.climatebonds.net/files/documents/publications/Green-Bonds-Global-State-of-the-Market-2019.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }