In the Asia-Pacific (APAC) region, the countries that have seen significant increases in green bond issuance include China, South Korea, and Japan. These three nations are expected to account for more than 75% of green bond issuance in APAC, along with other types of sustainable bonds.
- China remains a leading issuer of green bonds globally, with significant onshore and offshore markets. In 2023, it was the world’s largest issuer of green bonds, maintaining this position for two consecutive years.
- South Korea has seen substantial growth, particularly in social bond issuance, but also maintains a strong presence in the green bond market. Social bonds have been increasing significantly in South Korea, but green bonds remain a major focus as well.
- Japan is also a major player, with continued growth in green and social bond issuance. Japan has introduced various sustainable finance initiatives, including the issuance of transition bonds to support its Green Transformation Plan.
Other countries in the region, such as India and Hong Kong, are also expanding their green bond markets, but on a smaller scale compared to China, Japan, and South Korea.
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