“Companies that issue green debt aren’t necessarily reducing their carbon emissions, underscoring the need for firms to have an environmental rating, according to a report from the Bank for International Settlements.”

[COMMENTARY] The reasoning behind green bonds is that the proceeds are used for green projects. Thus, by definition, a company’s green-sustainable activities should be improved. It’s fascinating that the BIS research found the carbon intensity of companies issuing green bonds not to be much changed.
BIS Sees No Proof Green Bonds Improved Firms’ Carbon Footprints, by Jill Ward, September 14, 2020, Bloomberg Green, USA.