2026 Q1 Global Sustainable Bond Report
Climate Bonds Initiative (CBI) releases 2026 Q1 Global Sustainable Bond Report, aimed at summarizing the development of the global sustainable bond market.
As of March 2026, the cumulative issuance scale of global green, social, sustainable and sustainable development linked bonds has reached 6.98 trillion US dollars, and it is expected that the total issuance scale will reach 7 trillion US dollars in the second quarter.
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Global Sustainable Bond Market Development
The global scale of sustainable bond issuance in the first quarter of 2026 was $230.3 billion, a decrease of 9% compared to the first quarter of 2025, mainly due to a slowdown in sustainable bond issuance. Green bonds continue to dominate the market, with an issuance scale of $150.2 billion in the first quarter, accounting for 65%, and a cumulative issuance scale of $4.3 trillion. The issuance scale of social bonds and sustainable development bonds this quarter was 42.9 billion US dollars and 34.2 billion US dollars respectively, with a cumulative issuance scale of 1.3 trillion US dollars. Sustainable development linked bonds were issued for $3 billion this quarter, with a cumulative issuance scale of $75.1 billion.
The issuance scale of green bonds in the first quarter was $150.2 billion, with 413 issuances from 242 issuers, covering 36 jurisdictions and 24 currencies. German green bonds issued $30.9 billion, the highest proportion among jurisdictions. In green bonds, the issuance scale of Euro bonds accounts for 63%, RMB accounts for 12%, and USD accounts for 10%.
The scale of social bond issuance in the first quarter was 42.9 billion US dollars, an increase of 5% compared to the first quarter of 2025. The scale of social bond issuance in France is 18.5 billion US dollars, more than doubling compared to last year (7.8 billion US dollars). Government agencies (60%), development banks (20%), and financial enterprises (13%) account for a relatively high proportion.
The issuance scale of sustainable development bonds in the first quarter was $34.2 billion, a year-on-year decrease of 52%, due to a reduction in the issuance volume of development banks (from $47.7 billion to $10.9 billion). The issuance scale of sustainable development linked bonds in the first quarter was 3 billion US dollars, a year-on-year increase of 13%.
The issuance scale of sovereign sustainable bonds in the first quarter was 38 billion US dollars, an increase of 7% compared to the first quarter of 2025. Green bonds are the most widely issued, accounting for 77% of sovereign sustainable bonds. European countries have the highest issuance of sovereign bonds, accounting for 72% of the total.
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