This paper measures the effects of several policy instruments in supporting green bonds on the private sector green bonds issuance for 55 green-bond issuing countries, including 10 countries from Asia, over the period January 2010 – June 2020. Using the multilevel longitudinal model the paper finds that public issuance of green bonds and green bond policies are effective in promoting the issuance of green bonds in the private sector. Public issuance of green bonds is more effective in promoting issuance of green bonds by the private sector in Asia than globally.