Sustainable Finance

A large focus of sustainable finance is the transition to renewable energy and lowered emissions. Social bonds target positive social outcomes, whereas sustainability bonds can run the whole gamut of sustainable initiatives.

For scale, labelled sustainable bond issuance passed 1 trillion United States dollars (USD) in 2025 for the third year in a row, by the Climate Bonds Initiative’s count: 654 billion in green bonds, 217 billion in sustainability bonds and 141 billion in social bonds. The World Bank’s narrower count put the year at 904 billion, down 17 percent. Moody’s and S&P Global expect 800 to 900 billion in 2026, and about 520 billion of existing labelled bonds mature during the year, so the market is refinancing as much as it is growing. In 2021, Moody’s had forecast 375 billion in green bonds, 150 billion in social bonds and 125 billion in sustainability bonds.

Sustainable finance requires third-party, verifiable data and clear, well-designed metrics and key performance indicators (KPIs). That is where the firm works: on the data and the metrics an issuer and its investors can both rely on. It does not arrange or place the financing.

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Sources: Climate Bonds Initiative, Sustainable Debt Global State of the Market 2025; World Bank Treasury, Labeled Sustainable Bonds Market Update, fourth quarter 2025; Moody’s, Global sustainable finance outlook 2026; S&P Global Ratings, 12 March 2026; Moody’s, 2021 sustainable bond issuance forecast.