The article analyses the peculiarities of using green bonds as one of the effective tools for maintaining environmental sustainability, stresses the need for further development of innovative financial instruments to support sustainable development goals. The author notes the opinion of leading academic economists on the necessity and usefulness of introducing green finance instruments. The article analysed the key aspects of green bonds, their role in the modern economy, as well as the factors affecting their effectiveness and demand in the market. The author also reviewed the main standards that establish criteria for classifying projects as sustainable development projects, certification mechanisms, and requirements for issuing green securities. The author emphasised the need for further research in the field of green finance, as current research is insufficient to provide a clear picture of the implementation of the mechanism of issue and circulation of green finance instruments.