This chapter discusses the concept of green bondsGreen bonds, highlighting their environmental, financial and social impact. Green bonds are critically assessed on the basis of their advantages and disadvantages to prospective issuers and investors.  This chapter compares and contrasts green bonds with other climate initiative bonds. Further the concept of “greeniumGreenium” is unveiled and the role of green bondsGreen bonds in helping to achieve the Sustainable DevelopmentSustainable development Goals is discussed. A green premium may arise in the case of green bondsGreen bonds, reflecting the reduced cost of capital for issuers due to the high demand for sustainable investments. The chapter discusses the genesis, core principles, and empirical evidence of greeniumGreenium, which various academic studies support. The chapter highlights few successful green bond capital issues raised by byApple Inc., the Kenyan Government Bond, and India’s Power Finance Corporation, and unsuccessful issuances by Mexico City Airport and KEPCO’s green bondGreen bonds, which  could  not pass the ESG market test. This chapter outlines concerns affecting green bondsGreen bonds, such as greenwashingGreenwashing and issuer fatigue. It outlines the steps needed to improve their credibility and effectiveness in achieving global climate goals, highlighting the crucial role of academics, researchers, and professionals in finance, environmental studies, and sustainabilitySustainability in this process. At the end, the chapter provides the road ahead for green bondsGreen bonds and possible research topics which may emanate from the use of green bondsGreen bonds leading to possible decarbonization.