The issue of environmental protection has been a major topic for many years. Lately, some countries have been devoting more and more importance in achieving environmental and climate goals and, in accordance with this, have started to use green budget planning. Due to the fact that climate change and environmental pollution have a bad impact on our planet, and the aforementioned problems are increasing drastically, certain countries have set national goals for environmental protection and mitigating climate change. A green budget helps to achieve environmental protection goals and consists of fiscal policy measures and rules to prevent environmental problems and improve current condition. A green budget implies the use of fiscal policy tools to achieve climate and environmental goals. The governments of those countries that have not yet introduced green budget planning, faced with immediate threats to the environment, are increasingly considering introducing it. The aim of this paper is to show what green budget planning is, what are the tools for its implementation, and how some members of the European Union and third countries have adopted green budget planning in practice.