What are Municipal Green Bonds and how are global cities using them to finance green projects?

Nov 20, 2023

An aerial view of the San Francisco city skyline in California. Caption: San Francisco is among many cities around the world harnessing Municipal green Bonds to fund green projects.

San Francisco is among many cities around the world harnessing Municipal green Bonds to fund green projects. Image: REUTERS/Carlos Barria

Swasti Raizada

Policy Advisor, International Institute for Sustainable Development

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Cities need financing to meet the global goals and fight climate change - here's why

Public Sector issuance of Green, Social and Sustainability Bonds, by issuer type (in USD Bn) Image: The World Bank (2023), Green, Social, and Sustainability (GSS) Bonds, Market Update – January 2023.

Local government revenue sources as of 2020. Image: Reserve Bank of India (2022), Report on Municipal Finances

More than 20 cities or jurisdictions have already issued Municipal Green Bonds. Image: OECD Report, ‘Green bonds Mobilising the debt capital markets for a low-carbon transition’

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