The minute
- Global green bond issuance totaled $193 billion in Q2 2026, up 2% year-over-year, a new quarterly record per Moody’s
- Europe accounted for 58% of Q2 issuance (up from 44% a year earlier), driven by 34% growth in European green bonds; Asia Pacific’s share fell from 32% to 20%
- Blue bonds, tied to ocean and water projects, grew roughly 6x year-over-year in H1 2026 to $3.7 billion, already surpassing all of 2025’s volume
Why it matters
The contrast between the green bond boom and a 63% year-to-date drop in sustainability-linked bonds (tied to targets rather than specific projects) shows the market shifting toward structures that finance something concrete and verifiable, not just a promised future target.
Social bonds also surged, up 18% year-over-year to $42 billion for the quarter; financial institutions (29%) and non-financial corporates (26%) led issuance, while agencies and sovereigns drove year-to-date growth, up 22% and 15% respectively. via ESG Today
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