Balaoing-Pelkmans, Edylinda Annette O.Banal, Denise A.Bisnar, Judica O.2024-07-192024-07-192024-01https://selib.upd.edu.ph/etdir/handle/123456789/20Global awareness of environmental issues and climate change has been growing for years. There has also been pressure and a need to address these issues to mitigate their effects. With that, industries have been contributing to helping the environment through sustainable ways and policies. One example is how the finance industry helps combat these issues, such as countries that have started looking into green finance. Green bonds are a type of debt security that has the same structure as conventional bonds as the government or corporations issue them to fund environment- or climaterelated projects. This research addresses the significance and relationship of green bonds on both economic growth and the environment. It focuses on six ASEAN countries, particularly, the Philippines, Indonesia, Malaysia, Singapore, Vietnam, and Thailand. A panel analysis of 48 countries in Asia focusing on the six ASEAN countries from 2016 to 2022 reveals that Asia has better performance towards the environment because increases in green bond issuance reduce CO2 and GHG emissions and contribute to Climate Action (SDG 13). ASEAN green bonds are positively correlated with the GDP growth rate. With contribution towards economic growth, issued green bonds in ASEAN perform better than in Asia.enASEANgreen bondsenvironmental economicsfinancial economicscarbon dioxide emissionGHG emissionsrenewable energyGDPThesis