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Mobilising Bond Markets for a Low-Carbon Transition

image of Mobilising Bond Markets for a Low-Carbon Transition

This report describes the development of the green bond market as an innovative instrument for green finance, and provides a review of policy actions and options to promote further market development and growth. Since 2007-08, so-called “green bonds” have emerged and the market has risen from USD 3 billion in 2011 to USD 95 billion in issuance in 2016. For policy makers, the report proposes a framework for understanding potential directions of bond market evolution, increased convergence of rules and definitions, and quantitative analysis of the potential contribution that bond markets can make to a low-carbon transition.

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Foreword and acknowledgements

In the Paris Agreement adopted in December 2015 by the 21st Conference of the Parties to the United Nations Framework Convention on Climate (COP21), Parties agreed to hold the increase in the global average temperature to well below 2°C and pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels. Parties also agreed to make finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.

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