Thematic bond

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Bonds - sustainability - green finance - social concerns.

A thematic bond is a security issued in a capital market to raise financing for a project or activity related to a particular theme, for example:

  • Climate change
  • Education
  • Housing
  • Ocean and marine conservation or
  • One or more of the Sustainable Development Goals (SDGs)


World Bank - scope of thematic bonds
"Thematic bonds are emerging as a central financial solution for the NDCs and SDGs. Many governments are turning to such bonds to raise funding for critical investment needs. The thematic bond market started in 2008 with the issuance of the first labeled green bond by the World Bank...
For the purposes of this report [thematic bonds] include green, social, sustainability, and sustainability-linked labeled bonds.
Blue bonds are considered a subcategory of green bonds, and gender bonds a subcategory of social bonds.
Thematic bonds are also known as GSS; GSS+; environmental, social, and governance (ESG); or sustainable bonds."
Sovereign green, social and sustainability bonds - The World Bank Group - October 2022 - pp vii & 2.


See also


Other resource

Sovereign green, social and sustainability bonds - The World Bank Group - October 2022