Green bonds are bonds earmarked to raise capital for the funding of projects that have positive environmental and climate-related impact—which constitutes their main difference with conventional bonds. The green bond market is growing rapidly—however with concerns with regards to the greenness of the selected projects. To ensure investor confidence and protection a series of initiatives has been launched, such as the introduction of the Green Bond Principles, the selection of a set of eligible green projects and the performance of an external review. Green bonds have been found to have no, positive or negative issuer premium. At the same time there is evidence that they exert a positive effect on the issuer' stock price, ESF performance and reduction of carbon emissions.
Green bonds
Chesini Giuseppina;Poufinas Thomas
2025-01-01
Abstract
Green bonds are bonds earmarked to raise capital for the funding of projects that have positive environmental and climate-related impact—which constitutes their main difference with conventional bonds. The green bond market is growing rapidly—however with concerns with regards to the greenness of the selected projects. To ensure investor confidence and protection a series of initiatives has been launched, such as the introduction of the Green Bond Principles, the selection of a set of eligible green projects and the performance of an external review. Green bonds have been found to have no, positive or negative issuer premium. At the same time there is evidence that they exert a positive effect on the issuer' stock price, ESF performance and reduction of carbon emissions.
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