Global green bonds, which are used to support environmental projects and activities, have now reached the milestone value of $1 trillion (£770bn).
That’s according to a new report by Bloomberg New Energy Finance (BNEF), which suggests more than $200 billion (£153bn) worth of green bonds have already been issued in 2020, representing a 12% increase compared with the first nine months of 2019.
Grene bonds first emerged onto the world market in 2007.
Figures also show September saw more than $50 billion (£38.4bn) of green bonds brought to market.
The German Government’s decision to issue a €6.5 billion (£5.8bn) sovereign bond has been hailed one of the biggest boosters for this growth.
Mallory Rutigliano, Sustainable Finance Analyst at BNEF, commented: “For much of this year, green bond issuance has lagged behind 2019. But the bumper month in September, with more than $50 billion (£38.4bn) issued, offers hope of a possible boom in the last quarter of the year.”