This report prepared by the Climate Bonds Initiative and commissioned by HSBC provides an analysis of the labelled green bond climate-aligned and universe, highlighting investment opportunities to finance climate-aligned assets within the following climate themes: clean energy, low carbon transport, water management, low carbon buildings, waste management and sustainable land use.

This year’s report also provides an in-depth analysis of the diverse bond structures that have been used in the green bond market, as well as an update on the latest policy developments.

This edition of the report identifies a universe of USD1.45tn climate-aligned bonds:

  • 389bn in green bonds
  • 497bn in bonds from fully-aligned issuers
  • 314bn in issuance from strongly-aligned issuers
  • 250bn in issuance from fully-aligned US Muni issuers

CMI identifies the following trends and conclusions of this annual analysis:

  • Global growth of green finance is encouraging
  • There is a large universe of unlabelled bonds financing green infrastructure
  • There is huge potential for a larger and even more diverse green bond market

However, the report also highlights that there is still a long way to go:

  • Global emissions remain on track to exceed 2 degrees of warming
  • USD90tn of investment in climate projects is needed by 2030
  • Global green finance needs to reach USD1tn by end 2020 and grow each year of the new decade

Read the full report