The thematic bond market has emerged as a cornerstone of sustainable development and a significant component of global finance. While green bonds continue to account for the largest share of issuance, the market is increasingly expanding into new sectors and innovative instruments. The development of a domestic thematic bond market presents a valuable opportunity to stimulate investment, mobilize capital for sustainable projects, and accelerate the transition to a more sustainable economy.
Author: Tijana Miković Marković
Senior Manager
KPMG d.o.o. Belgrade
The Rise of Thematic Bonds
Article originally published in the special edition of the Biznis i Finansije – Finansije Top 2025/2026 magazine.