Is 'green finance' actually green? 'Make The Planet Great Again' or 'Green-washing', we must choose. Report on green bonds and climate bonds

As Paris dreams of becoming the capital of green finance, the author proposes a discussion of the emerging market of green bonds, and formulates a set of recommendations for this new financial instrument not to be polluted by green-washing operations. He first describes what a green bond is, and then comments what the green bond market represents, discusses development perspectives for this market, comments the Paris dream of becoming the world capital of a green and sustainable finance. He explains why this green bond market appears to be so interesting, and what guarantees that a green bond will finance green projects. He discusses the role of rating agencies, whether the emitter of a green bond must be green, and the impact of green bonds on climate, on the environment and on populations. He discusses the possible evolution towards a constraining regulation, and examines whether this system can be an operational financing source for energy transition. Recommendations concern the market regulation by public authorities, the creation of a new rating agency for green finance, how to make the world bond market climate-compatible, and the creation of other financing channels for actors who have no access to the bond market