The development of sustainable bond markets in the ASEAN+3 (the Association of Southeast Asian Nations, China, South Korea, and Japan) region is inconsistent and lags behind Europe.  Unlike the conventional bond markets, the public sector’s involvement in the ASEAN+3 sustainable bond markets is significantly limited, which has impacted market depth and investor confidence. The role of the public sector is critical in advancing sustainable bond markets. The presence of sovereign and government-related issuances fosters a more robust market environment, particularly when supported by strong regulatory frameworks and well-designed taxonomies. […]