Environmental Finance's Sustainable Debt Awards 2025

Exchange of the year: London Stock Exchange

London Stock Exchange (LSE)'s work on sustainable finance accelerated in the last 12 months, including with the growth of its Sustainable Bond Market and hosting the Climate Investment Funds Capital Markets Mechanism (CCMM).

Its sustainability-themed market grew to host 564 bonds at the end of last year – up from 502 active bonds at the start of 2024 – in the segment's most active year yet.

Meanwhile, the launch of the CCMM, an initiative led by the World Bank, to host "innovative" bond issuances, was matched with the issuance of a $100 million bond by DP World. It was the first 'blue' bond issued from the Middle East and North Africa, with proceeds to fund sustainability-themed projects across marine transportation, port infrastructure, and ecosystem conservation.

Other market advocacy work by LSE included its call, with the UN Principles for Responsible Investment and UN Sustainable Stock Exchanges, for global adoption of the International Sustainability Standards Board's standards.