The closet thing I’ve discovered is a bond on the Australian stock exchange, titled ASX:AEBD

It’s invested in the Australian federal government, several provinces of Canada (Ontario, BC, and Quebec), and a few other places I don’t recognize:

• https://stockanalysis.com/quote/asx/AEBD/holdings/

The fund manager (Betashares) describes the fund as follows:

AEBD aims to track the Bloomberg Australian Enhanced Yield Ethically Screened Composite Bond Index (Index), before fees and expenses. Bonds in the Index are screened to exclude exposure to activities associated with significant negative environmental, social and governance (ESG) factors

Though not municipal, this same company also manages another fund (GBND), whose description says

GBND aims to track the performance of an index (before fees and expenses) that comprises a portfolio of global green bonds (using the definition applied by the Climate Bonds Initiative), issued specifically to finance environmentally friendly projects

The GBND fund appears to only include the EU and European countries (namely France, Italy, and Germany), but the mention of Climate Bonds Initiative might be key to discovering similar funds that invest in actual green cities’ bonds

• https://www.climatebonds.net/

The closet thing I’ve discovered is a bond on the Australian stock exchange, titled ASX:AEBD

It’s invested in the Australian federal government, several provinces of Canada (Ontario, BC, and Quebec), and a few other places I don’t recognize:

• https://stockanalysis.com/quote/asx/AEBD/holdings/

The fund manager (Betashares) describes the fund as follows:

AEBD aims to track the Bloomberg Australian Enhanced Yield Ethically Screened Composite Bond Index (Index), before fees and expenses. Bonds in the Index are screened to exclude exposure to activities associated with significant negative environmental, social and governance (ESG) factors

Though not municipal, this same company also manages another fund (GBND), whose description says

GBND aims to track the performance of an index (before fees and expenses) that comprises a portfolio of global green bonds (using the definition applied by the Climate Bonds Initiative), issued specifically to finance environmentally friendly projects

The GBND fund appears to only include the EU and European countries (namely France, Italy, and Germany), but the mention of Climate Bonds Initiative might be key to discovering similar funds that invest in actual green cities’ bonds

• https://www.climatebonds.net/

Thanks! This is definitely the closest I’ve come to what I’m looking-for.

Here’s the top holdings of GBND, at the time of writing (2026):

1. France (3.1%)
2. EU (1.6%)
3. Italy (1.6%)
4. …
5. Germany (1.38%)

It looks like there’s a bunch of bonds at different rates for duplicates of more of the EU, France, and Italy.

source: https://www.morningstar.com.au/investments/security/ASX/GBND/portfolio

So this appears to invest in bonds of countries, not cities (as far as I can tell).

But the fund description mentions that it “comprises a portfolio of global green bonds (using the definition applied by the Climate Bonds Initiative)”. So I’d be curious if there’s any other funds in the world that also get their info from the “Climate Bonds Initiative”

• https://www.climatebonds.net/