Asia-Pacific leads issuance, with China the largest single-country issuer in 2025, and corporate issuers accounting for a substantial share of new green bond activity.

The GSS+ market began with the World Bank’s first green bond in 2008 and has surged from about US$2 billion in issuance to over US$6 trillion today, with Asia-Pacific-led growth and China as a central driver.

As of mid-2025, cumulative GSS+ issuance reached about US$6.3 trillion, reflecting rapid scale and ongoing expansion across green, social, sustainability, and sustainability-linked bonds, led by the Asia-Pacific region.

Industry responses to greenwashing have spurred stricter reporting standards, independent verification, and more granular, forward-looking impact data under frameworks like the Climate Bonds Standard.

SEB has embedded sustainable finance into its core strategy since 2017, using green bonds to diversify funding and support clients’ sustainability transitions.

Looking ahead, the green bond market must preserve environmental integrity and transparency, while expanding investor demand and robust regulatory oversight.

China’s early green sovereign issuance and ongoing strong green bond activity have been pivotal to the market’s rapid scale and climate-financing impact.

The World Bank launched the world’s first Green Bond in 2008 in collaboration with investors and SEB, helping to catalyze market development.

Regulatory developments and standards—such as the EU Green Bond Standard and China’s enhanced disclosure rules—are driving issuers toward better transparency and measurable impact.

The Climate Bonds Initiative continues to track market size and growth, with leaders emphasizing sustained expansion and potential climate benefits.