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ABSTRACT In 2024, global annual issuance exceeded USD 1. 1 trillion mostly through green bonds, credits, and sustainability‐linked instruments, yet significant regional disparities remain. This article examines how Qatar and Türkiye, two hydrocarbon‐dependent but rapidly transitioning economies, are integrating green finance into their sustainability agendas. While Qatar leverages sovereign wealth and state‐backed issuances, illustrated by its oversubscribed 2. 5 billion green bond in 2024, Türkiye advances through banking sector initiatives and the development of a national green taxonomy aligned with EU standards. The comparative analysis shows that Qatar's approach is characterized by centralized, resource‐backed financing, whereas Türkiye relies on regulatory reforms and diversified instruments to attract both domestic and foreign investors. Despite these differences, both nations face persistent challenges, including limited private sector participation, dependence on fossil‐fuel revenues, and the need for harmonized disclosure standards. By situating these national trajectories within the global green finance landscape, the study underscores how institutional pressures and transition dynamics shape localized pathways. The paper concludes with a clear policy recommendation: both countries must strengthen private capital mobilization through standardized green taxonomies and transparent disclosure systems to scale renewable energy investments and align with global decarbonization goals.
Ahmad et al. (Wed,) studied this question.