Green Bonds Market Summary - Q3 2018

Q3 at a glance

Green bonds in Q3 2018 totalled USD29.7bn, a 23% drop compared to Q3 2017. Looking at issuance for the three quarters of 2018 reveals a more reassuring trend, with USD108.3bn falling short of 2017 figures for the same period by less than 1%.

Q3 volumes were driven by both financial and non-financial corporates, which accounted for 18% each. Government-backed entities were also active in the market representing 16% of the total, with issuance equally split between developed and emerging markets.

By the end of Q3 2018, USD66bn worth of green ABS have been recorded in the CBI Green Bond Database, USD7bn of covered bonds and USD3.8bn other secured bonds, including debentures. All-in-all secured green bonds account for about 17% of cumulative green bond issuance.

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Q3 Highlights

  • USD29.7bn of issuance*
  • 293 green bond issues with 212 from the USA, 18 from China and 13 from Sweden
  • 79 issuers from 27 countries
  • 46 market entrants from 18 countries bring the total number of green bond issuers to 553
  • 52 green bond markets reached, with the first issuer from Uruguay debuting in Q3
  • 4th tap of the Republic of France’s sovereign Green OAT, taking the total to EUR14.8bn (USD16.7bn)

Download the full report here.


Previous Market Update Reports 

Green Bonds Market Summary - H1 2018 is here.

Green Bonds Market Summary - Q1 2018 is here.

Green Bond Highlights 2017 is here. 

Green Bonds Market Summary - Q3 2017 is here.