Green bond issuance is slowing down this year, with Moody's revising down its forecast for 2018 from $250 billion in new bonds to as little as $175 billion in an August 1 report.
But that doesn't mean everyone is losing faith in green bonds. For governments anxious to meet their commitments under the Paris Climate Accords, or simply to burnish their environmental credentials, they remain a key source of funding.
Take the Australian state of Queensland. The state government issued what was then the biggest ever Australian-dollar green bond in March 2017, and is preparing to dip its toe into green funding waters again.