Türkiye ranks among top five ESG bond issuers
International credit rating agency Fitch Ratings announced that Türkiye ranked fifth among emerging markets in US dollar-denominated environmental, social, and governance (ESG) debt issuance during the first nine months of 2026, accounting for 11.7% of the total.
Across emerging markets excluding China, total ESG issuance fell 40% year over year to $15 billion. Saudi Arabia led the rankings with a 20.9% share, followed by the United Arab Emirates at 17.8%, Brazil at 15.9%, and India at 12.5%.
According to Fitch's report, Gulf Cooperation Council (GCC) countries maintained their dominant position in the market, accounting for approximately 39% of total issuance. The outstanding value of ESG debt instruments in the region increased 18% year over year to more than $72.9 billion at the end of the third quarter. Sukuk accounted for 43% of that amount. Fitch noted that ESG issuance could increase in 2027, supported by sustainability investments and the diversification of financing sources, although geopolitical risks continue to weigh on the market.
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