Transition bond
ESG & GovernanceA use-of-proceeds bond that funds projects to cut emissions in high-emitting activities that cannot yet become fully green.
Transition bonds aim at sectors such as steel, cement and power, where change happens step by step. In India, SEBI made them a sub-category of green debt securities in February 2023 and, from May 2023, requires a "GB-T" marking and a transition plan with interim targets, a timeline, the technology to be used and an implementation strategy. ICMA released Climate Transition Bond Guidelines in November 2025. Japan issued the first sovereign transition bonds in February 2024.
Related terms
Learn the concept
From the research
A Comparative Financial Analysis of Three Listed Companies
Three IT services leaders, five years of numbers: similar growth, very different margins and returns on capital, and their October 2026 valuations.
MarketsIPO Issue Price vs. Listing Price vs. Subsequent Performance
Seven of India's most talked-about IPOs since 2021, tracked from issue price to listing to October 2026. Buying on listing day lost money in six of seven.
ValuationPaytm: Valuing a Company With No Clean Comparable
Paytm is part payments processor, part device business, part loan distributor. Why no single peer fits, and how to value it in parts and in reverse.