气候债券倡议组织（CBI）：2025年全球可持续债务市场报告（英文版）（16页）.pdf

1、Sustainable Debt Global State of the Market 2025Social$1.3tnSLB$74.5bnGreen$4.2tn Sustainability$1.3tnPrepared by the Climate Bonds Initiative$6.8tn Cumulative Aligned GSS+Sustainable Debt Global State of the Market 2025 Climate Bonds Initiative 2List of acronyms A&R:adaptation and resilience ABS:as

2、set-backed securities AFFLU:agriculture,forestry,food,and land use CBS:Climate Bonds StandardCBS v4.3:Climate Bonds Standard version 4.3DM:developed market EM:emerging market ESG:environmental,social,and governance EU:European Union GBD:green bond datasetGBP:(ICMA)Green Bond Principles GHG:greenhous

3、e gas GSS:green,social and sustainability GSS+:GSS and SLB bondsContents1.Introduction 2List of acronyms 22.Report highlights 3Green 6Social 7Sustainability 8Sustainability-linked bonds 9The sovereign GSS+Bond Club 93.Spotlight:adaptation and resilience 11Appendix 1.13About the Climate Bonds Initiat

4、ive 13Scope of analysis 13Methodology overview 14Appendix 2.15Aligned scorecards 151.IntroductionThis is the 15th iteration of the Climate Bonds Initiative(Climate Bonds)Global State of the Market report.The scope of this report includes analysis of green,social,and sustainability(GSS)bonds aligned

5、with Climate Bonds dataset methodologies(Appendix 1)plus sustainability-linked bonds(SLBs).As of the end of 2025,Climate Bonds had recorded USD8.1tn of cumulative GSS and SLB(collectively GSS+)volume,of which USD6.8tn(83%)was found to be Climate Bonds aligned.This indicates strong appetite for thema

6、tic debt,with the difference between the two numbers highlighting the rigour of Climate Bonds curation.This report describes the shape and size of the aligned GSS+debt market as of 31 December 2025.Aligned GSS+scorecard2025Cumulative since 2006USDbn%totalUSDbn%totalGreen 653.5 64%4,156.4 61%Social 1