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Who buys green bonds?

The main investors are located in Europe, followed by Japan and the Americas.

In Europe, institutional investors (such as pension funds and insurance companies) and, in the United States, investors with strong environmental focus were the first green bond investors. Since then, green bond issuers have tapped into a broader group of investors including asset managers, companies, foundations, and religious organizations. As issuances have grown in size, the types of investors have grown increasingly diverse as well. For example, in 2014, Zurich Insurance Group announced that it would “double its commitment to green bonds,” mandating the asset management firm Blackrock to invest US$1 billion in green bonds.
(Zurich Insurance Group, "Zurich Makes a Significant Commitment to Green Bonds," in Annual Review 2013: Getting Closer to Our Customers)

Just like issuers, fixed-income investors are using green bonds to communicate to their stakeholders their commitment to supporting environmentally friendly investments. Many of them, for example, disclose their green bond purchases through press releases and other communication.