Climate Finance and Green Bonds - Green bonds apply environmental labelling to traditional bonds for financing green and climate projects. The green bond market has grown rapidly in recent years, and shows promise for furthering climate action. Multilateral development banks have been most active in issuing green bonds to support their environment and development agendas, but corporations and municipalities are also beginning to issue green bonds. To what extent can green bonds provide finance for climate action in developing countries? Emerging economies are becoming more active in the green bond market. Challenges and opportunities relating to green bond demonstration and governance, de-risking, and green integrity are also explored.