Abstract
Sustainable municipal infrastructure is important for improving the quality of life of metropolitan residents. At present, due to macroeconomic instability, there are difficulties in attracting investment in municipal environmentally oriented infrastructure projects. Green bonds are increasingly being promoted around the world as a low-cost and attractive way for public and private actors to access liquidity to finance activities or projects that contribute to climate change mitigation and ecosystem adaptation. Although the green bond market is still in its infancy, green bonds are one of the most important innovations in green finance. Green Municipal Bonds are a new line of financial products designed to raise additional capital for projects that have positive environmental and/or climate benefits. Currently, there is no single definition of what constitutes a green municipal bond or green project. Nevertheless, the market for sustainable municipal projects is developing and attracting the attention of an increasing number of impak investors focused on investing in environmentally oriented sustainable projects. The author proposes a methodological framework for assessing the compliance of municipal projects with the requirements of green financing. The article also defines the criteria for assessing the effectiveness of green municipal projects financed through the issuance of green municipal bonds.
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