This thematic paper aims to inform the Government of Turkey on the global developments in green finance and potential options for unlocking investments in the priority areas of climate action in Turkey. It is based on the status of climate action and available information as of October 2021, including international experiences and recent studies on green finance and enabling policies in Turkey and other countries, and discussions with the Government of Turkey and other institutions. In light of the COVID-19 crisis, the report also touches upon the role of green finance in sustainable economic recovery and explores options for mobilizing impactful investments that will contribute to strengthening resilience. In this context, this thematic paper also intends to spur the discussion on maximizing and ensuring the long-term transformative impacts of green finance, which occur when projects have positive spillover effects beyond the boundaries of the specific activity, producing high-impact, enduring results and fostering subsequent green growth initiatives.