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.