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Green bonds are issued at higher prices than traditional ones? Similar to say have lower yield? (=trade at higher prices ).Researcher have found conflicted elements:- Zerbib : Corporate Bond: 1slightly lower yield, slightly higher price- Baker : Municipal bond : found a small premium, smaller yieldThe yield of green bond and non: no statistical significance. In conclusion in her paper, the positive stock market reaction is due to cheap debt financing.If the stock market reacts positively to green bonds: cheaply. Priced, would expect statistically significance here. So she argues that it reacts positively, because investor argues it good to implement those project.

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