In this article, the author analyzes the market of debt instruments in the field of «green» financing on the example of «green» bonds issued by the city of Moscow. The placement of “green” bonds is targeted, the funds raised should be used to finance environmental projects. The Moscow government issued green bonds totaling 72 billion rubles to finance the replacement of the bus fleet and the construction of metro stations, which will reduce the emission of pollutants and greenhouse gases into the atmosphere. Consequently, investors, by purchasing “green” bonds, not only successfully invest free cash, but also finance an investment project, the purpose of which is to improve the climatic conditions of the city of Moscow. The city of Moscow is an issuer with high credit ratings, which is achieved due to the budget balance and low debt burden. The issue of green bonds of Moscow is the first case of placement of sub-federal securities of green financing. From this point of view, they are of interest both for investors wishing to invest in environmental projects, and for government agencies and other subjects of Russia. To distribute this type of financial instrument, the efforts of the state, financial institutions and corporate investors should be combined. Measures taken by the Government of the Russian Federation include certification of the taxonomy process for environmental projects and the adoption of Russian standards for the development of sustainable development bonds, including public sector green bonds. Government support measures will help develop infrastructure and increase investor confidence in green financial instruments.