The sustainable debt market in the 6 largest ASEAN economies continued to grow rapidly in 2021 with record issuance of green, social, and sustainability (GSS) debt totaling USD24bn compared to USD13.6bn in 2020. This growth reflects the regions’ enthusiasm to allocate capital for the response to the COVID-19 pandemic along with facilitating long-term, low carbon, and climate-resilient economic growth. 

“ASEAN Sustainable Finance: State of the Market 2021” is the fourth iteration of the Climate Bonds Initiative’s ASEAN State of the Market Report series. As the sustainable debt market has grown, the scope of this report has expanded, and now includes analysis of the GSS bond and loan markets, plus sustainability-linked bonds (SLBs) and sustainability-linked loans (SLLs) and transition bonds, collectively described as GSS+ debt. It also covers unlabelled bonds from climate-aligned issuers. This report describes the shape and size of GSS+ themed and unlabelled climate-aligned debt market originating from ASEAN and priced on or before 31 December 2021.

Access the report here