ING Bank: It is estimated that the global issuance of green bonds will increase to $700 billion by 2025.

ING Bank has released its latest "Sustainable Finance Outlook" report (2025 Issue 5). The report points out that the global issuance of sustainable development bonds and green loans reached a historic high in 2024, with a steady growth in demand for sustainable financial instruments. It is expected that this year, the transformation of finance will attract more attention from the market. The global issuance of green bonds reached a record high of $688 billion in 2024, and is expected to increase to $700 billion in 2025, demonstrating a strong commitment to sustainable development in the market. The report mentioned above states that the outlook for sustainable finance in 2025 is optimistic, with the issuance of sustainable bonds expected to continue its upward trend. The growth momentum is supported by regulatory support, such as the new European Green Bond Standard, as well as an increasing demand from investors for credible transformation finance solutions. However, political changes in the United States have the potential to inhibit growth, especially as potential regulatory changes could impact companies' commitments to sustainable development. Nevertheless, sustainable finance continues to maintain strong growth momentum in Asia, the UK, and emerging markets, with both companies and financial institutions accelerating efforts towards sustainable development. China continues to maintain a leading position in global green bond issuance. The Chinese government has made green development a key policy, and the ongoing energy transition is helping to drive continuous growth in the bond market, assisting in achieving zero-carbon goals. Song Lin, Chief Economist for ING Bank's Greater China region, stated: "In 2024, data on industrial electricity generation in China showed double-digit growth in hydropower, wind power, and CECEP Solar Energy, reflecting strong demand for financing renewable energy projects. Looking ahead, given China's carbon peak and carbon neutrality goals and their global importance, green development will benefit from policy support in the long run. Despite recent global changes, China is unlikely to deviate from its current development trajectory and will not abandon its climate goals and global responsibilities." Key contents of the "Sustainable Finance Outlook: 2025 Issue 5" include: - The global issuance of green bonds reached a record high of $688 billion in 2024, and is expected to increase to $700 billion in 2025, demonstrating a strong commitment to sustainable development in the market. - The total global issuance of sustainable finance in 2024 reached $1.657 trillion, increasing by 11% compared to 2023 ($1.488 trillion). The growth was mainly driven by strong issuance in the first and third quarters of 2024. - Sustainability-linked loans contributed $278 billion to the total issuance in 2024. Although still lower than the peak levels in 2021-2022, it is expected to resume growth in 2025, mainly due to corporate refinancing from companies like Beijing Dynamic Power, ESG data optimization, and the increasing popularity of sustainable finance in more regions. - In 2024, the issuance of sustainable development bonds and green loans also reached record highs of $252 billion and $192 billion respectively, highlighting the continued demand for sustainable financing solutions in the market.