The global sustainable debt market has reached a major new milestone, with cumulative aligned issuance surpassing $7tr, according to the latest data from the Climate Bonds Initiative. The Climate Bonds’ database of green, social, sustainability and sustainability-linked (GSS+) bonds aligned with its methodologies has now crossed the $7tn threshold, demonstrating the rapid growth of sustainable finance from a niche segment into a significant part of global capital markets.

The milestone marks a sharp acceleration in market growth. It took the sustainable debt market 13 years, from 2006 to 2019, to reach its first $1tn. Since 2020, it has added almost $6tn more, with the market growing by around $1tn per year since 2021.

The latest data shows green bonds remain the dominant label, with cumulative aligned issuance now exceeding $4tn. Social and sustainability bonds also continue to represent a major share of the market, reflecting sustained demand for debt instruments that finance both climate and social outcomes. Sustainability-linked bonds remain a smaller but important part of the GSS+ landscape.

Last year, Climate Bonds’ Global State of the Market 2025 report found that annual aligned issuance surpassed $1tn for the third consecutive year in 2025, with more than 400 new issuers entering the sustainable debt market. Green-labelled bonds accounted for 64% of aligned GSS+ issuance in 2025, while Europe remained the leading region, representing 45% of total aligned annual GSS+ volume.