The global market for sustainable finance has registered considerable growth since 2014 mainly led by the issuance of green bonds. As per the data published (Climate Bonds Initiative, November 2022), cumulative green bond issuances as on September 30, 2022, have surpassed US$ 2.0 trillion, which includes sovereign green bonds (SGrBs) issued by 26 sovereigns aggregating to US$ 230.9 billion. European nations are the major issuers of SGrBs with 5-year and 10-year tenors being the preferred tenors of issuance.
