This study aims to analyse market and financial risks and their mitigations on the issuance of Green Bond by PT Bank Negara Indonesia, a government-owned bank. The research explored what are the risks of issuance of Green Bond, and how to mitigate it. As BNI needed a funding due to a maturing bond, it is decided that they would refinance by issuing Green Bond, making BNI the first bank in Indonesia to issue Green Bond. Thus, BNI faces a challenge to determine the risks of issuing Green Bond and whether it is worth the risk to issue it, especially regarding market and financial risk. The management of risk is very crucial in determining and finding a solution or mitigation to the risk. By determining the risks, the probability and the impact of the risks can be analysed as well. From those risk events, the mitigation of the risks can be analysed as well. The mitigation would lessen the impact or the probability of the risk event. After all the risk events and mitigations are concluded, the analysis solution can be used as recommendation and guidance of risk management in case of next Green Bond issuance.