This article studies the role of capital market participants in the transition to a green economy, the role of the capital market in the transition to a green economy, the importance of green financial instruments and their approaches to types. The role of green investors in the capital market, the functions of capital market participants in the transition to a green economy, and the share of green bonds in the international green bond market by type are analyzed. Based on the analysis, relevant conclusions are given.

This article shows how important it is to transition to a green economy as a result of global climate change. Also, due to environmental and social problems, the priority tasks of green economy development and issues of increasing the role of banks in the development of green economy, environmental and social risks in banks and their assessment, green loans, green bonds expansion are presented.

The article examines the role of green bonds and their subtype, green mortgage-backed securities, in the global financial market, as well as the prospects for their application in Uzbekistan. Green bonds are increasingly used as an important financial instrument that enables investors to channel funds into environmentally sustainable projects. In the United States, green mortgage-backed securities issued by major agencies play a leading role in financing the energy-efficient housing market. The experience of Europe, Canada, and Australia likewise demonstrates the steady international development of this instrument. In Uzbekistan, the green mortgage market is only beginning to take shape, being gradually introduced through national strategies, pilot projects supported by international financial institutions, and commercial bank products. The research findings indicate that green mortgage-backed securities are not only a source of financial returns, but also an important mechanism for combating climate change and supporting the transition to a sustainable economy.

The article examines the role of insurance companies in the development of green investments as an important direction of sustainable financing. It analyzes the theoretical foundations, key principles, and main areas of green investments in the insurance sector. Special attention is given to the advantages and challenges faced by insurance companies when integrating ESG criteria into their investment practices. Recommendations are presented to improve green investment mechanisms, including standardization of reporting, implementation of digital technologies, and development of specialist competencies.

This article analyzes the prospects for developing green finance products and creating innovative products in commercial banks. The research results indicate that green loans, ESG investments, and green bonds serve as essential tools for ensuring environmental, social, and economic sustainability in banking activities. Additionally, improving ecological risk management systems, cooperation with state and international financial institutions, and engaging young professionals and innovative ideas have been identified as key strategic directions.