We now forecast a 16% decline in GSSSB issuance this year, to $865 billion. Yet, it should continue to comprise 12% of global bond issuance for the combined financial services, nonfinancial corporate, and public finance sectors. Sustainability-linked bonds are the only GSSSB type to demonstrate growth in 2022, up 18% year on year. Financial services is the only sector to experience GSSSB issuance growth in 2022, up 11%. Annual issuance has risen 4x since 2018.