Annual issuances declined in 2025 after a steady stream of issuances for the past four years, with all categories of labeled issuances recording declines. Annual issuances for 2025 reached USD 904 billion, a 17% decline compared to 2024 levels. The cumulative amount of green, social, sustainability, sustainability-linked, and transition bonds issued in the market reached USD 6.81 trillion as of December 2025. […]