Sustainable Debt Global State of the Market: Q1 2026

As of the end of March 2026, Climate Bonds had recorded an aligned cumulative volume of USD6,986.0bn in GSS+ debt, just shy of breaching the USD7tn mark. This figure comprises 83% of the USD8.4tn total GSS+ volume recorded by Climate Bonds, reflecting the market’s robustness in aligning with Climate Bonds’ rigorous standards.

In Q1 2026, aligned GSS+ debt instruments accounted for USD230.3bn. On a like-for-like comparison (as defined below), this quarter’s supply reflects a 9% decline from Q1 2025.

The green label (USD150.2bn) continued to account for almost two-thirds (62%) of cumulative aligned GSS+ volume in Q1 2026, the cumulative amount now totalling USD4.3tn. Social and sustainability labels, both cumulatively contributed USD1.3tn each, pricing USD42.9bn and USD34.2bn respectively in Q1 2026.