LONDON 06/06/2022 13:00 BST: Climate Bonds Initiative (Climate Bonds) today announced its list of top achievers in sustainable finance for 2021 during the 7th Annual Climate Bonds Awards. Recognition has been given to winners from emerging markets, financial institutions and governments who have led the development of the market over the course of the year. The Climate Bonds Awards is the prime international event marking leadership, best practice and innovation in green and sustainable finance.

Said Sean Kidney, Chief Executive of Climate Bonds Initiative: “This year’s winners represent an exceptional collective global effort to mobilise capital & markets to meet the climate challenge head on.”

“The impacts battering communities in all corners of the globe will intensify as will the costs. To avoid this, we need to halve emissions by 2030 and align our economies to a 1.5-degree pathway.”

“It is only through the vision, leadership and commitment of sustainable finance leaders such as these that we will meet our goal of USD 5 Trillion a year in green issuance by 2025, with trillions more geared towards sustainable investment. Capital & markets must move with speed and urgency to avert the worst of runaway climate change.”

At the end of 2021, Climate Bonds had recorded more than 16,000 GSS+ (Green, social, sustainability, Sustainability-linked bonds and transition) debt instruments with a cumulative volume of USD2.8tn. In 2021, Climate bonds captured USD1.1tn of new GSS+ volumes, 46% more than the USD730.5bn in 2020. The green theme is still the largest source of debt, with 49% of the total, (USD523bn), and SLBs demonstrated the fastest growth, expanding by ten times year-on-year. 

The Climate Bonds Awards, hosted annually by Climate Bonds Initiative, an international not-for-profit organisation working to mobilise global capital  for climate action, contains 6 categories (Green Debt Instruments; Green Market Pioneer; Supranational Green Market Pioneer, Sovereign Green Market Pioneer; Social & Sustainability Debt Instruments; and Transition Debt Instruments). Awards are made to acknowledge achievements of organisations and governments that are taking action towards increasing climate-based investment and, consequently, inspiring other institutions to move in the same direction.

2022 marks the 7th year of the Awards, which will be streamed exclusively on the Climate Bonds YouTube channel today, June 6th 2022 at 13:00 BST (1:00 pm London).


2022 Climate Bonds Awards Recipients:

  • Largest Green Supranational Bond in 2021 and Supranational Green Market Pioneer -  European Union NGEU Green Bond

  • ​​Largest Green Sovereign Bond in 2021 and the Sovereign Green Market Pioneer in 2021 - United Kingdom

  • Sovereign Green Market Pioneer - Italy 

  • Sovereign Green Market Pioneer - Spain

  • Sovereign Green Market Pioneer - Korea

  • Sovereign Green Market Pioneer - Serbia

  • Largest Green Sukuk 2021 - Indonesia

  • Largest Subnational Green Bond 2021 - Société du Grand Paris

  • The Largest Emerging Market Certified Climate Bond in 2021 award and the Largest Certified Climate Bond in 2021 - China Development Bank

  • Largest Development Bank Green Bond in 2021 - KfW

  • Largest Largest Green Asset Backed Security in 2021 - SLG Office Trust / SL Green

  • Largest Non-Financial Corporate Green Bond in 2021 - Ford Motors

  • Largest Financial Corporate Green Bond in 2021 - DNB Boligkreditt AS

  • Largest Financial Corporate Green Bond in 2021 - BPCE SFH SA (Groupe BPCE)

  • Largest External Review Provider in 2021 by volume and Largest Verifier for Certified Climate Bonds in 2021 - Sustainalytics

  • Largest External Review Provider in 2021 in number of deals - CICERO

  • Green Market Pioneer in 2021 - Raiffeisen Bank

  • Green Market Pioneer in 2021 - Ceska Sporitelna (Erste Group Bank)

  • Green Market Pioneer in 2021 - Bank Hapoalim

  • Green Market Pioneer in 2021- Investment Energy Resources (Corporacion Multi Inversiones)

  • Green Market Pioneer in 2021 - Slovenska Sporitelna (Erste Group Bank)

  • Largest Transition Bond of the Year in 2021 - Seaspan Corp

  • Corporate Sustainability Bond of 2021 - HP Inc / Hewlett-Packard

  • Largest Sustainability-Linked Bond of the Year 2021 - TEVA PHARMACEUTICAL INDU

  • Largest Sustainability Bond in 2021 - World Bank

  • Largest Social Bond in 2021 - European Union SURE


Comments from Award Recipients:

Johannes Hahn, European Commissioner for Budget and Administration, European Union NGEU Green Bond 

“Today’s award is a confirmation that the EU’s commitment to sustainability – expressed via our flagship NextGenerationEU green bond programmes – makes a real difference. The Commission will continue to use funding from the capital markets to support Europe’s sustainable recovery and long-term resilience, in the best interest of citizens, businesses and communities.” 


John Glen MP, Economic Secretary to the Treasury, United Kingdom

“I am delighted that the green gilt has won these two awards in recognition of last year’s successful launch of our Green Financing Programme. The green gilt is a key pillar of our green finance agenda and will help to reinforce the UK’s position as a leader in sustainable finance. The Government’s commitment to the sustainable bond market remains strong, with the intention to raise a further £10bn through green gilts this financial year.”   


Davide Iacovoni, Director General For The Public Debt Department of Treasury, Italy

“We are honoured to receive this significant award testifying the commitment of the Republic of Italy in strengthening and developing the sustainable finance sector and to set up a solid market environment able to boost green bonds attractiveness to investors, thus implementing the national and European political guidelines and road map towards a sustainable growth. Moreover, the use of sovereign green bond represents an invaluable tool to consolidate the Republic’s reputation in effectively spending national budget resources towards the UN SDGs related to climate change.”


Pablo de Ramón-Laca, Director General of the Treasury and Financial Policy, Spain

“Green bonds are now a structural element of the Spanish Treasury’s financing strategy. They aim to promote the development of sustainable finance in Spain and meet the needs of the investor community, helping to broaden and diversify our investor base”.


Sung Cheol Kim, Senior Deputy Director of Ministry of Economy and Finance, Korea

“We believe that the Republic of Korea has further strengthened its role as a pioneer in green financing by issuing the first euro denominated green bond, by an Asian sovereign, and we deeply appreciate the recognition of our effort with this meaningful award. The Korean government will continuously enhance its leadership and commitment in coping with climate change and promoting green financing.”


Siniša Mali, Minister of Finance, Serbia 

“The Government of the Republic of Serbia is dedicated to accelerating the country’s green agenda by investing in renewable energy, energy efficiency, sustainable water and wastewater management, pollution prevention and control and circular economy, protection of the environment and biodiversity, and sustainable agriculture.

As an emerging market, it is very important for us to show our commitment to the green agenda in order to improve the quality of life of all Serbian citizens and contribute to the global fight against pollution and climate change. In the last two years, during the COVID crisis, Serbia managed to achieve record economic growth while maintaining the stability of public finances, and the realisation of the green agenda has become one of our priorities. This award gives us an incentive to be even better and dedicate ourselves even more responsibly to this goal.”                


Sri Mulyani Indrawati, Minister of Finance, Indonesia

“The climate change issue is a really important and challenging task for all countries. It is not only about idea or intention, but most importantly is translating into workable decision and commitment.”                                                                         


Xavier Plee, Chief Financial Officer, Société du Grand Paris

“We are delighted to receive this award for the largest subnational green bond of 2021. It demonstrates the SGP’s commitment toward green financing. The project aims to foster energy efficiency and develop the circular economy in waste management among other environmentally responsible objectives.”


Jian Zang, Deputy Director General For Treasury and Financial Markets, China Development Bank

“We are delighted to receive the Climate Bonds award from CBI. China Development Bank has faithfully implemented the new development philosophy of innovation, coordination, green growth, openness and sharing and made remarkable achievements in pushing forward the country's high-quality development. We are looking forward to continuously enriching the system of green financial products, increasing support to the green industry, and making positive contributions to promoting green and low-carbon development.”                                                       

Petra Wehlert, Head of Capital Markets, KfW

“We are very honoured to be rewarded again by CBI. Since our inaugural KfW Green Bond in 2014 our aim was to provide liquidity to ESG investors. Meanwhile, we issued more than EUR 50bn equivalent in green bonds. This is the largest green bond of a non-sovereign issuer.”


Edward V. Piccinich, Chief Operating Officer, SLG Office Trust – SL Green

“We are honoured to receive the Climate Bonds Award for Largest Green ABS,” said Edward V. Piccinich, Chief Operating Officer of SL Green Realty Corp. “For the past 15 years, sustainability has been core to our mission at SL Green, and we have reduced carbon emissions by investing in capital improvements and deploying energy management strategies across our portfolio. As the largest office landlord in Manhattan, we are aware of the positive impact we can make and are committed to being a trailblazer across our industry.”


John Lawler, Chief Financial Officer, Ford Motors

“Ford has a long history as an automotive and sustainability pioneer, and now we are blazing a new trail to lead the electric vehicle revolution in a way that is good for people, the planet, and our business,” said John Lawler, Ford Chief Financial Officer. “Our Sustainable Financing Framework and inaugural Green Bond will help us finance our shift towards a zero-emissions future by prioritising and allocating capital for environmental and social initiatives. An effective sustainability strategy is key to the long-term growth and financial success of our company, and to creating healthy, thriving and just communities.”                                                                                    


Thor Tellefsen, Senior Vice President, DNB Boligkreditt AS

“Thank you for the award. We are happy to receive recognition for the work we have been doing with our green bond program. Successful green issuances are dependent on investor appetite, and we hope to continue to see high demand for our sustainable bonds going forward.”


Roland Charbonne, Director Group Funding & Investor Relations, BPCE SFH SA (Groupe BPCE)

“Groupe BPCE is very grateful to the Climate Bonds Initiative for the award granted to the €1.5 billion Green Building covered bond issued in 2021 by BPCE SFH. Our commitment is to remain one of the world's most active ESG bond issuers in all major currencies (EUR, JPY and USD).” 


Heather Lang, Executive Director, Morningstar Sustainalytics

“Sustainalytics is honoured to receive this continued recognition from the Climate Bonds Initiative as the Largest Verifier for Certified Climate Bonds. As green bonds continue to be the largest source of sustainable debt, our team remains focused on supporting issuers in meeting CBI’s certification standards.”


Harald Francke Lund, CEO, CICERO Shades of Green

“CICERO Shades of Green is honoured to receive this award for Largest External Review Provider in 2021 Regulatory pressure and increasing financial sector focus on climate risk means that the transparency we provide on the Shades of Green is increasingly relevant for investors.”


František Ježek, Board Member for Corporate Banking, Raiffeisen Bank

“Learning is one of the core values of our organisation. We have learned to establish a green bond framework and we are doing our best to back it with eligible assets. We are committed to take further steps on our journey towards a sustainable company for the benefit of our stakeholders and the society in general.”  


Ivan Vondra, Chief Financial Officer, Ceska Sporitelna (Erste Group Bank)

“Ceska sporitelna has been proudly committed to social responsibility throughout its nearly 200 years of existence. We intend to actively support the transformation towards sustainability and environmental protection. It is clear that further strengthening of prosperity must be based on sustainability. Only in this way can everyone benefit.”


Ron Meiri, Fund Transfer Pricing Manager, Bank Hapoalim

“We are honoured to receive CBI's Green Market Pioneer in Israel 2021 award. Bank Hapoalim's Green bond is the first-ever green bond issued by an Israeli entity. Bank Hapoalim leads the Israeli financial sector in green financing, and this issuance supports the bank’s ambition to increase financing that promotes the environment and the transition to a low-carbon economy.”  


Enrique Crespo, CEO, Investment Energy Resources (Corporacion Multi Inversiones)

“This recognition fills us with satisfaction and allows us to reaffirm our commitment to continuous growth and the generation of impact investments that drive the sustainable development of the countries and communities where we operate. Investing in renewable energy is undoubtedly to invest in comprehensive sustainability. And to that end, it is essential that we promote a reliable, affordable and decarbonized energy system to continue contributing to the social, economic and environmental growth of countries.”                                 


Pavel Cetkovský, Chief Financial Officer, Slovenska Sporitelna (Erste Group Bank)

“We are honoured and pleased that our inaugural green senior preferred bond was recognized with such a significant award. ESG is among the key priorities of Slovenská sporiteľňa as well as the Erste Group, therefore we will naturally continue issuing green bonds, including green covered bonds, in the future.”            


Graham Talbot, Chief Financial Officer, Seaspan Corp

“Seaspan is thrilled to accept the award for the largest transition bond of the year. Our financing team continually looks to align our financings with our broader ESG objectives through the incorporation of sustainability-linked features. The entire team at Seaspan places a high importance on our environmental responsibility.”


Zac Nesper, Treasurer, HP Inc

“HP has long been a purpose-driven brand that’s anchored in strong corporate values,” said HP Inc. Treasurer Zac Nesper. “We appreciate the recognition that our Sustainable Bond Framework is an integral part of our overall approach to aligning the needs of our business and our capital structure with the needs of the world around us.”


Eli Kalif, Chief Financial Officer, Teva Pharmaceutical Industries

“We are honoured to be recognized by the Climate Bonds Initiative. Upon issuance, Teva’s $5 billion sustainability-linked bond was the largest in the world and the first in the pharmaceutical industry linked to two of today’s greatest global challenges: climate change and access to medicines. The bond is tied to our targets to improve access to medicines in low- and middle-income countries and reduce our greenhouse gas emissions and is a great example of how ESG is truly integrated into our funding strategy.”                                             


Jorge Familiar, Vice President and Treasurer, World Bank (The International Bank for Reconstruction and Development)

“We are pleased to learn that our 10-year US dollar Sustainable Development Bond was recognized as the Largest Sustainability Bond in 2021. Meaningful climate action will require scaling up finance and building partnerships with investors,” said Jorge Familiar, Vice President, and Treasurer, World Bank. “This bond is a great example of our holistic approach to ensuring that climate action  mitigation and adaptation efforts are integrated into all investments.”


Johannes Hahn, European Commissioner for Budget and Administration, European Union SURE

“The SURE programme was central to the EU’s immediate response to the coronavirus crisis. It helped protect millions of jobs, keeping people in work amidst the worst pandemic the world had experienced in decades. Today’s award shows that it also made a difference for the social bonds market, boosting its size and attracting more participants into it. We will keep working for a more sustainable economy and society, thus contributing to a better present and future.”                 




For more information, please contact:

Mariana Caminha

Head of Regional Communications 

Climate Bonds Initiative

M: +55 (61) 981351800 (Whatsapp)



Notes for journalists:

About Climate Bonds Initiative: The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. For more information, please visit www.climatebonds.net or visit our Twitter, LinkedIn, Instagram Facebook and YouTube, #CBIConf22. 

The Climate Bonds Awards: The Awards recognise organisations who through their actions at corporate, national or regional levels have demonstrated the potential of green finance, energised the market and have led by positive example.

Launched in 2016 as the Green Bond Pioneer Awards in an inaugural partnership with the London Stock Exchange Group, the Climate Bonds Awards are widely acknowledged as the foremost international recognition in green finance.

Acknowledgements: The 7th Annual Climate Bonds Awards have been generously supported by the International Finance Corporation


2016 – 2021 Green Bond Pioneer Awards: 

Additional details of 2016 Inaugural Award recipients are here

Additional details of 2017 Award recipients are here.

Additional details of 2018 Award recipients are here

Additional details of 2019 Award recipients are here.

Additional details of 2020 Award recipients are here.

Additional details of 2021 Award recipients are here.




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