In the past few years, there has been tremendous growth in the issuance of so-called “Green Bonds,” a catchall term for debt issued to finance environmentally-friendly infrastructure and other projects. A recent program explored the concept of Green Bonds, summarized the “Green Bond Principles” and described the current state of the private and municipal markets for such bonds. The program featured Stuart K. Fleischmann and Robert N. Freedman, partners at Shearman & Sterling; Gordon G. Raman, a partner at Borden Ladner Gervais; and Tatjana Misulic, of counsel at Ballard Spahr. Green Bonds may offer opportunities for hedge fund managers looking to market to pension funds and other institutions with investment guidelines that incorporate “environmental, social and governance” considerations. See “United Nations White Paper Explains How Hedge Fund Investors Can Layer Environmental, Social and Governance Factors into Manager Selection,” Hedge Fund Law Report, Vol. 5, No. 46 (Dec. 6, 2012).