A sovereign green bond presentscountries with an opportunity to demonstrate nationalleadership in the green financing agenda while givingexposure to a new investor base and solidifying a country’scommitment to complying with the Paris Climate ChangeAgreement. While green bonds allow sovereign issuers toappeal to a new class of investors, domestically orinternationally, in addition to the usual costs associatedwith the preparation of a vanilla government bond, greenbonds require upfront and ongoing resources that are notrecoverable through bond proceeds. Many potential investorsneed to be educated on the benefits of a green bond, forthemselves and the country. Studies have shown an increasingnumber of millennials are attracted to investments that willhave a positive environmental impact, making it a wisechoice for retail issuances and institutions whose customerbase will increasingly include millennials. Clearlyidentifying the reasons for issuing will drive manydecisions in the issuance process. If a country’s motivationto issue a green bond is prompted by a desire for cheaperfinancing compared to a vanilla issuance, then cautionshould be exercised. While it has been suggested they mayhave the potential to attract a pricing premiu