Green bond market summary H1 2020

The global green bond market saw a 26% year-on-year decline in issuance volume during H1 2020, totaling USD 91.6 billion, likely due to the COVID-19 pandemic. While green issuance slowed, there was a surge in 'pandemic' labeled debt (approximately USD 75 billion) and social/sustainability bonds (USD 94.4 billion). Developed markets dominated the landscape, contributing 82% of issuance, with the US and France leading. Government-backed entities and non-financial corporates were the most prominent issuer types, and energy remained the most popular use of proceeds category at 34%.

• Green bond issuance in the first half of 2020 decreased by 26% compared to the previous year, with a total volume of USD 91.6 billion across 439 deals.
• The COVID-19 pandemic likely slowed green bond growth, leading governments to issue approximately USD 75 billion in debt specifically carrying a "pandemic" label in H1 2020.
• Social and sustainability bonds saw significant growth, reaching USD 94.4 billion in labelled debt during H1 2020, which is double the previous figures.
• Developed Markets (DM) accounted for 82% of green bond issuance in H1 2020, an increase of 7% from H1 2019, while Emerging Markets (EM) share fell from 21% to 13%.
• The United States and France were the top two countries for issuance, representing 19% and 16% of the market respectively.
• Energy was the most frequent use of proceeds category at 34%, supported by the entry of grid operators into the market.
• Government-backed entities saw a 9% year-on-year increase in green bonds, totaling USD 21.9 billion, with French railway issuers Société du Grand Paris and SNCF contributing 30% of this category.
• Certified Climate Bonds (CCBs) represented 25% of H1 2020 volumes, with Chile and the Netherlands being the top sovereign issuers in this category.

APA

Climate Bonds Initiative (2020). Green bond market summary H1 2020. https://www.climatebonds.net/files/documents/publications/Green-bonds-market-summary-H1-2020.pdf

Chicago

Climate Bonds Initiative. Green bond market summary H1 2020. 2020. https://www.climatebonds.net/files/documents/publications/Green-bonds-market-summary-H1-2020.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green bond market summary H1 2020 |date=August 2020 |url=https://www.climatebonds.net/files/documents/publications/Green-bonds-market-summary-H1-2020.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020green, author = {{Climate Bonds Initiative}}, title = {{Green bond market summary H1 2020}}, institution = {Climate Bonds Initiative}, year = {2020}, month = aug, url = {https://www.climatebonds.net/files/documents/publications/Green-bonds-market-summary-H1-2020.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }