The latest Intergovernmental Panel on Climate Change report, Global Warming of 1.5 ºC, notes the importance of mobilizing green finance for limiting global warming to 1.5 degrees Celsius and preventing catastrophic climate change. In line with this, some countries have been implementing policies to support green bonds. Green bonds are debt securities whose proceeds are used to fund environmental projects, including climate change mitigation and adaptation. Therefore, unlike conventional bonds, green bonds finance projects with clear environmental benefits (ICMA 2018). The issuance of green bonds around the world has grown rapidly, from $3.4 billion in 2012 to $235 billion in 2019 (Figure 1). Green bonds were first listed in the Association of Southeast Asian Nations (ASEAN) in 2017, and issuances in ASEAN grew from $1.8 billion in 2017 to $3.4 billion in 2019. The total value of green bonds issued in ASEAN reached $10.2 billion in June 2020.