Value of green bonds issued worldwide 2014-2023, by region

The global green bond market has experienced remarkable growth, with Europe leading the charge. In 2023, European countries issued approximately 310 billion U.S. dollars worth of green bonds, maintaining their position as the top region for the sixth consecutive year. The Asia-Pacific region followed, with 190 billion U.S. dollars in green bond issuance, highlighting the increasing global commitment to financing climate and environmental projects.

Regional distribution and market leaders

While Europe dominates the green bond market, other regions are making significant contributions. China emerged as the top individual country, issuing over 83 billion U.S. dollars in green bonds in 2023, followed by Germany with 67 billion U.S. dollars. The United States, despite not leading in 2023, has been the frontrunner in cumulative green bond issuance from 2014 to 2023, with a total of 454 billion U.S. dollars.

Sector allocation and market growth

The proceeds from green bonds are primarily directed towards specific sectors, with energy projects receiving the largest share at just over one-third of total funds between 2014 and 2023. Buildings and transportation sectors also benefited significantly. This allocation is reflected in the number of green bonds issued, with 1,259 bonds financing energy projects in 2023 alone.