The government of Australia issued an inaugural green bond for $7 billion targeting its three green goals of climate change mitigation, climate change adaptation and improved environmental outcomes.

The issue was made under the Australian government's Green Bond Framework, which includes reporting on social co-benefits of projects, a limit on the proportion of refinancing, and financing projects aimed at improving environmental outcomes for Australia's unique environments, including the Great Barrier Reef.

Eligible projects under the framework renewable energy and sustainable transport such as; electric passenger rail projects, supporting electric vehicle charging infrastructure, deploying community batteries across Australia and investing in renewables and low-emission technologies.

Elsewhere it will also look to support the recovery of Australia's unique plants, animals and ecological communities and protect the health and resilience of the Great Barrier Reef.

The government also believes its green bond programme and framework have set the standard for other Australian issuers.