The green bond market in Morocco has advanced dramatically in recent years and is among the best in the world. The companies listed on the Casablanca Stock Exchange that have issued green bonds serve as the research object in the paper, as the effects of green bond issuance are investigated. Non-linearities in dynamic behaviours are validated by applying the four models in the study's Markov-switching (MS) econometric methodology. The implications of green bond issue on financial performance and corporate social responsibility, as well as the effects on stock price (CSR). Both in high- and low-volatility scenarios, the green bond market is seen to have a favourable impact on the overall calculation. In both high and low volatility scenarios, green bonds have a positive impact on the carbon market. Priorities for the corporation include CSR disclosure activities and ensuring that governments maintain a strong economic foundation for a long-term sustainable market. The claim that green bonds are a crucial element in determining the course of events in the carbon market gains support due to the long-term stability of the low volatility regime. Through an effect akin to insurance, the CSR dramatically lowers the risk premium of corporate bonds. Investors and fund managers can better deploy strategies across a range of market volatility and economic activity with the support of a diversified portfolio built around a climate framework.