Climate Bonds Initiative (CBI) has released a new edition of its quarterly market update report which details the state of green and other labelled debt up to the end of Q3 2023.

All-time cumulative green, social, sustainability, and sustainability linked bonds (denominated GSS+) market surpassed the 4 trillion dollars milestone during Q3’23.

Year-to-date 2023, aligned GSS+ bonds plus transition bonds accounted for 618 billion dollars, showing a 10% drop versus the same period in 2022. However, aligned GSS+ as a percentage of total market issuance volume remains at 5%. The green theme contributed with 67% of YTD total labeled issuances, social bonds added 16%, sustainability bonds 14%, SLBs 3%, and unscreened transition bonds made up the final 0.3%.

Regarding sovereign debt, CBI has recorded aligned GSS+ bonds from 49 sovereigns with an all-time cumulative volume of 435 billion dollars and a Q3’23 volume of 21 billion dollars. Chile placed four sovereign GSS+ bonds during Q3’23 summing up 5.2 billion dollars. In July 2023, Mexico returned to the sustainability bond market with a 1.4 billion dollars deal with use of proceeds linked to the UN’s Sustainable Development Goals (SDGs). During November 2023, Brazil became the 50th sovereign to come to market with its debut 2 billion dollars sustainability deal.