Russia's domestic market for sustainable debt securities expands significantly

The total amount outstanding of debt securities issued in the domestic market related to sustainable development has grown significantly, from 12.4 billion Rubles in January 2020 to 510.8 billion Rubles by March 2026.

This expansion underscores a growing focus on sustainable finance instruments within Russia.

Green bonds form a substantial part of this market, with their outstanding amount increasing from 12.4 billion Rubles in early 2020 to 231.5 billion Rubles by March 2026.

Social bonds also showed notable growth, reaching 55.1 billion Rubles.

Infrastructure bonds, a more recent category, contributed 140 billion Rubles to this total.

The Central Bank of Russia's data, classified according to Moscow Exchange standards, reflects the increasing role of environmental and social financing in the Russian financial system.

The growth in sustainable debt securities is broadly distributed across issuer types.

Nonfinancial corporations initiated the market with green bonds in January 2020, reaching 46.7 billion Rubles by March 2026.

General government entities contributed 70 billion Rubles in green bonds around June 2021.

Other financial corporations emerged as the largest issuer, with their total sustainable debt surging to 376.7 billion Rubles by March 2026.

Other depository corporations also participated, with their sustainable debt reaching 17.3 billion Rubles.

This diversified engagement reflects a growing commitment to sustainable financing across the Russian economy.