The transition to a sustainable global economy requires scaling up the financing of investments that provide environmental and social benefits. The bond markets through Green, Social and Sustainability Bonds as well as Sustainability-Linked Bonds can play an essential role in attracting private capital to finance these global needs.

Green, Social and Sustainability Bonds are any type of bond instrument where the proceeds will be exclusively applied to eligible environmental and/or social projects.

Sustainability-Linked Bonds are any type of bond instrument for which the financial and/or structural characteristics can vary depending on whether the issuer achieves predefined Sustainability/ESG objectives.

They are all regulated instruments subject to the same capital market and financial regulation as other listed fixed income securities.

The Green Bond Principles (GBP), the Social Bond Principles (SBP) and the Sustainability Bond Guidelines (SBG), referred to as the “Principles” have become the leading framework globally for issuance of green, social and sustainability bonds.

The International Capital Market Association (ICMA) serves as Secretariat, assuming administrative duties, and providing guidance for the governance of the Principles. As the principles are designed to be industry wide, bond issuers and investors as well as banks are invited to participate. For more information, please contact ICMA at

See our RESOURCE CENTRE for an easy-access overview of documentation from the GBP SBP SLBP Secretariat and other important documentation for the green, social and sustainability sectors as well as research and learning resources.

ICMA Zurich

T: +41 44 363 4222
Dreikönigstrasse 8
8002 Zurich
ICMA London

T: +44 20 7213 0310
110 Cannon Street
London EC4N 6EU
ICMA Paris

T: +33 1 70 17 64 72
62 rue la Boétie
75008 Paris
ICMA Hong Kong

T: +852 2531 6592
Unit 3603, Tower 2
Lippo Centre
89 Queensway, Admiralty
Hong Kong
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