The report also confirms GSS+ bonds from sovereign issuers were up 36% on last year, with $435bn issued in the first three quarters of 2023 by 49 different countries.
The analysis puts the cumulative value of all green, social, sustainability and sustainability-linked (GSS+) bonds aligned with the Initiative's screening methodologies issued since 2006 at $4.2trn.
More than half the total is provided by green bonds, which reached $2.6trn by the third quarter of this year, the Climate Bonds Initiative said.
Green bonds hit record fundraise while lending and M&A sink
The analysts also counted $762bn worth of bonds with a social label, $764bn with a sustainability label and $43bn sustainability-linked bonds.
Beyond the $4.2trn of green, social, sustainability and sustainability-linked bonds found to be in alignment with its screening methods, the Q3 State of the Market Report points to a further $12.7bn in unscreened bonds bearing the transition label.
The report notes that roughly $618bn of GSS+ bonds, including transition bonds, had been issued in the first three quarters of 2023, marking a 10% decline on the same period the year before.
However, it notes the slowdown is in line with trends across the broader bond market, with GSS+ bonds share of total issuance remaining at 5%.
The report also confirms GSS+ bonds from sovereign issuers were up 36% on last year, with $435bn issued in the first three quarters of 2023 by 49 different countries.
Sean Kindey, CEO of the Climate Bonds Initiative, said the figures highlighted the importance of governments negotiating a strong outcome at the COP28 Climate Summit.
«This is well evidenced in the world of sustainable finance which has spread across the globe with trillions of debt
Read more on investmentweek.co.uk