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b'Green bonds, which first appeared in 2007, finance projects that deliver environmental or climate benefits such as climate change mitigation and adaptation investments. \\n\\nThe global green bond market is rapidly growing, from $3 billion in 2012 to more than $100 billion in 2017. \\n\\nThe Nordic region, particularly Sweden, Norway, and Finland, has pioneered the issuance of green bonds and used specific mechanisms to access debt markets to issue green bonds. \\n\\nThese bonds could be used by developing countries in Asia.\\n\\nThe increase in recent years of the use of green bonds is a consequence of a wider awareness among investors of sustainability and climate change following the Paris Agreement on climate change in 2015 and the United Nations\\u2019 adoption of the Sustainable Developments Goals. \\n\\nRead the transcript\\nhttps://bit.ly/2v8q1G8\\n\\nRead the working paper\\nhttps://www.adb.org/publications/green-bond-experience-nordic-countries\\n\\nAbout the author\\nDarius Nassiry is a senior research associate at the Climate and Energy Programme, Overseas Development Institute, London, United Kingdom.\\n\\nKnow more about ADBI\\u2019s work on bonds\\nhttps://bit.ly/2HvzHgI\\nhttps://bit.ly/2ILj53H'