It is now almost two years since the European Green Bond standard became available to issuers seeking to raise funding for sustainable activities and projects. A growing number of them has been doing so: issuance volume has reached almost EUR 60 billion since December 2024. The framework passed another milestone in June of this year, when the European Securities and Markets Authority (ESMA) took up full supervision of external reviewers – the companies that review the disclosures that issuers of European Green Bonds have to publish. Seven firms have registered with ESMA so far.
Île-de-France Mobilités – the public body that coordinates public transport in the Paris region – was one of the first issuers to start using the standard. We spoke to Thomas Stouf, its Head of Funding, to hear his views and experience with issuing European Green Bonds.
What motivated you to issue a European Green Bond? Why was it important to you to issue a European Green Bond in addition to other types of green bonds you have already issued?
The European Green Bond Standard is the gold standard in green finance, so it was a natural move for Île-de-France Mobilités to use this new label.
As the Organising Authority for Public Transport and Sustainable Mobility in the Île-de-France region, Île-de-France Mobilités was among the first issuers to establish a green financing framework fully aligned with the EU Taxonomy. Even before the European Green Bond Standard entered into force, we had our framework, taxonomy alignment and impact reporting verified on a project-by-project basis by an external auditor.
According to Île-de-France Mobilités, the European Green Bond Standard is the most robust framework for providing investors with the highest level of transparency, credibility and confidence regarding the environmental impact of the projects being financed.
What has your experience been?
Our experience has been extremely positive and the feedback from investors has been excellent. As the first public-sector issuer in the world to issue a European Green Bond in 2025, we attracted significant attention from the market and successfully broadened and diversified our investor base.
It has also solidified our position as a pioneer in green finance.
What would be your message to others considering issuing a European Green Bond?
As the gold standard in green finance, issuing an EuGB is one of the strongest ways to demonstrate transparency, credibility and accountability to investors.
It is also a logical choice for issuers whose environmental ambitions are matched by the quality of assets they finance. The European Green Bond label ensures that this quality is reflected in the financing itself.
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European green bond
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