Note(s): Bond YTM represents the yield to maturity of green bond. Bond risk is measured using duration. Amount issued refers to the total bond issuance size. Rating denotes the bond’s credit rating. Duration captures the sensitivity of bond to interest rate changes. Bid yield change represents fluctuations in the bid yield. z-spread measures the yield difference between the bond and a benchmark risk-free rate. Standard error is reported in parentheses. Statistical significance levels are denoted as follows: *p < 0.10, **p < 0.05 and ***p < 0.01