While preliminary data for October suggest the total annual issuance for 2025 is likely to exceed 2020 levels, this would nevertheless represent the lowest annual issuance of GSSS bonds since 2021, with total issuance over 3Q2025 of just below US$600 million ($780.57 million). The 1H2025 issuance already falls below that of previous years.
A slowdown in green, social, sustainable and sustainability-linked (GSSS) bonds issued worldwide has continued into 3Q2025, reflecting political and macroeconomic uncertainty, according to Sustainable Fitch.
The number of new labelled bonds issued, as they are known, fell by over 20% q-o-q and over 50% y-o-y in 3Q2025.
