Sustainable debt issuance has reached a record high, according to the Climate Bonds Initiative.

All sustainable debt issuance, which includes green, social, and sustainability-linked bonds, reached $273bn in Q1 of this year. This represents an increase of 15% on Q1 2023.

Green bonds saw a sharp increase in issuance, rising 43% to $195.9bn. All time green bond volume has now passed $3tn since 2006.

Caroline Harrison, Director of Technical Development, Climate Bonds, said, “Sustainable finance has been quick off the blocks in 2024 and we could see a record year nearing $1trillion of green bonds alone. The sustained growth in this market reflects the enthusiasm of issuers to decarbonise their operations as swiftly as possible and seize the opportunities for growth. The leading role that sovereign issuers are taking in this space suggests that the urgency of the transition is being endorsed from the top down.”

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