Abstract

FOREST, Nathalie. Green Bonds: A Comprehensive Analysis. rlde [online]. 2023, n.especial, pp.99-130.  Epub Nov 30, 2023. ISSN 2074-4706.  https://doi.org/10.35319/lajed.2023esp308.

Green bonds are an important financial innovation with the potential to mobilize resources for investments that contribute to the environment and climate change mitigation and adaptation. To provide a better understanding of this market, this paper analyzes the available market information and literature on the main topics related to green bonds. Most studies find evidence of a greenium, a positive market reaction to the issuance of green bonds, and a positive impact of green bonds on the environment and climate change. However, the distinctive features of the green bond market make it difficult to obtain conclusive evidence regarding its potential effects. Therefore, the main barriers of the market and public policies to develop the green bond market are also analyzed.

Keywords : Green bonds; green finance; climate change.

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