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2024 Green, Social, and Sustainability (GSS) Bond Issuance hit almost $1trn – highest annual figure in three years
The Green, Social, and Sustainability (GSS) Bond market reached its highest point in three years – with issuances hitting just under one trillion dollars ($910bn) in 2024, according to the latest quarterly GSS report by ESG, sustainability and impact data provider MainStreet Partners.
Social bond issuances saw the biggest increase in 2024 hitting $251bn (2023: $159bn), while sustainability bond issuance suffered the biggest drop to $152bn (2023: $203bn). Transition Bonds also saw something of a revival, displaying a significant growth in activity in 2024, particularly led by Japanese issuers.
The report also navigates the effect of ESMA’s new Paris Aligned Benchmark (PAB) and Climate Transition Benchmark (CTB) look-through approaches, where the compliance analysis is more focused on the Use of Proceeds rather than on the issuer itself.
By analysing the projects financed by each of the 5,000 bonds in its database, MainStreet Partners finds that this new regulation is highly relevant for Article 9 fund managers as they should start re-shaping their portfolios in advance, to avoid rapid adjustments concerning GSS Bonds to retain their themed-fund names.
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