The transition to a low-carbon global economy is a complex challenge that demands a holistic approach with action from all of society including governments, regulators, companies, investors, and citizens. Green bonds have become an important tool to help governments and companies finance the energy transition and address the impacts of climate change. Since entering the world of fixed income in 2007, green bonds have grown into an approximately €1.5 trillion market1 , increasing approximately 90% per year from 2016 to 2021.2 Total green bond issuance reached €430 billion in 2021, more than double the issuance in 2020 and almost 31 times the issuance in 2014. We believe this momentum reflects a growing commitment to sustainability goals driven by three forces