<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2074-4706</journal-id>
<journal-title><![CDATA[Revista Latinoamericana de Desarrollo Económico]]></journal-title>
<abbrev-journal-title><![CDATA[rlde]]></abbrev-journal-title>
<issn>2074-4706</issn>
<publisher>
<publisher-name><![CDATA[Universidad Católica Boliviana "San Pablo"]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2074-47062023000300099</article-id>
<article-id pub-id-type="doi">10.35319/lajed.2023esp308</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Bonos verdes: un analisis integral]]></article-title>
<article-title xml:lang="en"><![CDATA[Green Bonds: A Comprehensive Analysis]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Forest]]></surname>
<given-names><![CDATA[Nathalie]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Consultor independiente  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>11</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>11</month>
<year>2023</year>
</pub-date>
<numero>especial</numero>
<fpage>99</fpage>
<lpage>130</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.bo/scielo.php?script=sci_arttext&amp;pid=S2074-47062023000300099&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.bo/scielo.php?script=sci_abstract&amp;pid=S2074-47062023000300099&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.bo/scielo.php?script=sci_pdf&amp;pid=S2074-47062023000300099&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Los bonos verdes son una importante innovación financiera con potencial de movilizar recursos para inversiones que contribuyan al medio ambiente y la mitigación y adaptación al cambio climático. Con el objetivo de brindar un mayor entendimiento sobre este mercado, este artículo analiza la información de mercado disponible y la literatura sobre los principales temas relacionados con los bonos verdes. La mayoría de los estudios encuentran evidencia de greenium, de una reacción positiva de los mercados ante la emisión de bonos verdes y de un impacto positivo de los bonos verdes en el medio ambiente y el cambio climático. Sin embargo, las características singulares del mercado de bonos verdes limitan la obtención de evidencia concluyente sobre sus potenciales efectos. Por ello, también se analizan las principales barreras del mercado y las políticas públicas para desarrollar el mercado de bonos verdes.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract 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.  Clasificación/Classification JEL: G11, G23, Q54, Q58]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Bonos verdes]]></kwd>
<kwd lng="es"><![CDATA[finanzas verdes]]></kwd>
<kwd lng="es"><![CDATA[cambio climático]]></kwd>
<kwd lng="en"><![CDATA[Green bonds]]></kwd>
<kwd lng="en"><![CDATA[green finance]]></kwd>
<kwd lng="en"><![CDATA[climate change]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<label>1</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Agliardi]]></surname>
<given-names><![CDATA[E.]]></given-names>
</name>
<name>
<surname><![CDATA[Agliardi]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Financing environmentally-sustainable projects with green bonds]]></article-title>
<source><![CDATA[Environment and Development Economics]]></source>
<year>2019</year>
<volume>24</volume>
<numero>6</numero>
<issue>6</issue>
<page-range>608-23</page-range></nlm-citation>
</ref>
<ref id="B2">
<label>2</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Altun]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Ergenc]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The EU and China in the global climate regime: A dialectical collaboration-competition relationship]]></article-title>
<source><![CDATA[Asia Europe Journal]]></source>
<year>2023</year>
</nlm-citation>
</ref>
<ref id="B3">
<label>3</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Bachelet]]></surname>
<given-names><![CDATA[M. J.]]></given-names>
</name>
<name>
<surname><![CDATA[Becchetti]]></surname>
<given-names><![CDATA[L.]]></given-names>
</name>
<name>
<surname><![CDATA[Manfredonia]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Green Bonds Premium Puzzle: The Role of Issuer Characteristics and Third-Party Verification]]></article-title>
<source><![CDATA[Sustainability]]></source>
<year>2019</year>
<volume>11</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>1098</page-range></nlm-citation>
</ref>
<ref id="B4">
<label>4</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Baker]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Bergstresser]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Serafeim]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
<name>
<surname><![CDATA[Wurgler]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Financing the Response to Climate Change: The Pricing and Ownership of U.S. Green Bonds]]></article-title>
<source><![CDATA[National Bureau of Economic Research]]></source>
<year>2018</year>
<numero>25194</numero>
<issue>25194</issue>
</nlm-citation>
</ref>
<ref id="B5">
<label>5</label><nlm-citation citation-type="">
<collab>Bloomberg</collab>
<source><![CDATA[Bloomberg MSCI Green Bond Indices: Bringing clarity to the green bond market through benchmark indices]]></source>
<year>2021</year>
</nlm-citation>
</ref>
<ref id="B6">
<label>6</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Caramichael]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Rapp]]></surname>
<given-names><![CDATA[A. C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Green Corporate Bond Issuance Premium]]></article-title>
<source><![CDATA[International Finance Discussion]]></source>
<year>2022</year>
<page-range>1346</page-range></nlm-citation>
</ref>
<ref id="B7">
<label>7</label><nlm-citation citation-type="">
<collab>CEPAL</collab>
<source><![CDATA[The rise of green bonds: Financing for development in Latin America and the Caribbean]]></source>
<year>2017</year>
</nlm-citation>
</ref>
<ref id="B8">
<label>8</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Cheong]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
<name>
<surname><![CDATA[Choi]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green bonds: A survey]]></article-title>
<source><![CDATA[Journal of Derivatives and Quantitative Studies: &#49440;&#47932;&#50672;&#44396;]]></source>
<year>2020</year>
<volume>28</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>175-89</page-range></nlm-citation>
</ref>
<ref id="B9">
<label>9</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Cortellini]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
<name>
<surname><![CDATA[Panetta]]></surname>
<given-names><![CDATA[I. C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Bond: A Systematic Literature Review for Future Research Agendas]]></article-title>
<source><![CDATA[Journal of Risk and Financial Management]]></source>
<year>2021</year>
<volume>14</volume>
<numero>12</numero>
<issue>12</issue>
<page-range>589</page-range></nlm-citation>
</ref>
<ref id="B10">
<label>10</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[De Freitas Netto]]></surname>
<given-names><![CDATA[S. V.]]></given-names>
</name>
<name>
<surname><![CDATA[Sobral]]></surname>
<given-names><![CDATA[M. F. F.]]></given-names>
</name>
<name>
<surname><![CDATA[Ribeiro]]></surname>
<given-names><![CDATA[A. R. B.]]></given-names>
</name>
<name>
<surname><![CDATA[Soares]]></surname>
<given-names><![CDATA[G. R. da L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Concepts and forms of greenwashing: A systematic review]]></article-title>
<source><![CDATA[Environmental Sciences Europe]]></source>
<year>2020</year>
<volume>32</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>19</page-range></nlm-citation>
</ref>
<ref id="B11">
<label>11</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Deschryver]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
<name>
<surname><![CDATA[de Mariz]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[What Future for the Green Bond Market? How Can Policymakers, Companies, and Investors Unlock the Potential of the Green Bond Market?]]></article-title>
<source><![CDATA[Journal of Risk and Financial Management]]></source>
<year>2020</year>
<volume>13</volume>
<numero>3</numero>
<issue>3</issue>
<page-range>61</page-range></nlm-citation>
</ref>
<ref id="B12">
<label>12</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ehlers]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
<name>
<surname><![CDATA[Packer]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Bond Finance and Certification]]></article-title>
<source><![CDATA[BIS Quarterly Review]]></source>
<year>2017</year>
</nlm-citation>
</ref>
<ref id="B13">
<label>13</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Eisinger]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
<name>
<surname><![CDATA[Hogg]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Cochu]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<collab>European Commission, Directorate General for the Environment</collab>
<article-title xml:lang=""><![CDATA[Study on the potential of green bond finance for resource-efficient investments]]></article-title>
<source><![CDATA[Publications Office]]></source>
<year>2016</year>
</nlm-citation>
</ref>
<ref id="B14">
<label>14</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fatica]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Panzica]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green bonds as a tool against climate change?]]></article-title>
<source><![CDATA[Business Strategy and the Environment]]></source>
<year>2021</year>
<volume>30</volume>
<numero>5</numero>
<issue>5</issue>
<page-range>2688-701</page-range></nlm-citation>
</ref>
<ref id="B15">
<label>15</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fatica]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Panzica]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
<name>
<surname><![CDATA[Rancan]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The pricing of green bonds: Are financial institutions special?]]></article-title>
<source><![CDATA[Journal of Financial Stability]]></source>
<year>2021</year>
<volume>54</volume>
</nlm-citation>
</ref>
<ref id="B16">
<label>16</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Flammer]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Bonds: Effectiveness and Implications for Public Policy]]></article-title>
<source><![CDATA[National Bureau of Economic Research]]></source>
<year>2019</year>
<numero>25950</numero>
<issue>25950</issue>
</nlm-citation>
</ref>
<ref id="B17">
<label>17</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Flammer]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Corporate green bonds]]></article-title>
<source><![CDATA[Journal of Financial Economics]]></source>
<year>2021</year>
<volume>142</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>499-516</page-range></nlm-citation>
</ref>
<ref id="B18">
<label>18</label><nlm-citation citation-type="book">
<collab>G20 GFSG</collab>
<source><![CDATA[G20 Green Finance Synthesis Report]]></source>
<year>2016</year>
<publisher-name><![CDATA[G20 Green Finance Study Group]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B19">
<label>19</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Gilchrist]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Yu]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Zhong]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Limits of Green Finance: A Survey of Literature in the Context of Green Bonds and Green Loans]]></article-title>
<source><![CDATA[Sustainability]]></source>
<year>2021</year>
<volume>13</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>478</page-range></nlm-citation>
</ref>
<ref id="B20">
<label>20</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Glavas]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Regulation and Stock Price Reaction to Green Bond Issuance]]></article-title>
<source><![CDATA[Finance]]></source>
<year>2020</year>
<volume>41</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>7-51</page-range></nlm-citation>
</ref>
<ref id="B21">
<label>21</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Glomsrod]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Wei]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Business as unusual: The implications of fossil divestment and green bonds for financial flows, economic growth and energy market]]></article-title>
<source><![CDATA[Energy for Sustainable Development]]></source>
<year>2018</year>
<volume>44</volume>
<page-range>1-10</page-range></nlm-citation>
</ref>
<ref id="B22">
<label>22</label><nlm-citation citation-type="book">
<collab>ICMA</collab>
<source><![CDATA[The GBP Databases and Indices Working Group: Summary of Green Fixed Income Indices Providers]]></source>
<year>2017</year>
<publisher-name><![CDATA[ICMA Group]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B23">
<label>23</label><nlm-citation citation-type="book">
<collab>ICMA</collab>
<source><![CDATA[Green Bond Principles-Voluntary Process Guidelines for Issuing Green Bonds]]></source>
<year>2022</year>
<publisher-name><![CDATA[ICMA Group]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B24">
<label>24</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kapraun]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Scheins]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[(In)-Credibly Green: Which Bonds Trade at a Green Bond Premium?]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2019</year>
</nlm-citation>
</ref>
<ref id="B25">
<label>25</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Karpf]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Mandel]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Does it Pay to Be Green?]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2017</year>
</nlm-citation>
</ref>
<ref id="B26">
<label>26</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Katori]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Financial Potential of Green Bonds: Comparing the Three Issuing Schemes]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2018</year>
</nlm-citation>
</ref>
<ref id="B27">
<label>27</label><nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Klein]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Widge]]></surname>
<given-names><![CDATA[V.]]></given-names>
</name>
<name>
<surname><![CDATA[Bergedieck]]></surname>
<given-names><![CDATA[L.]]></given-names>
</name>
<name>
<surname><![CDATA[Maheshwari]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Avendano Ugaz]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<source><![CDATA[Green Finance: A Bottom-up Approach to Track Existing Flows]]></source>
<year>2019</year>
<volume>2</volume>
<publisher-loc><![CDATA[Washington D.C. ]]></publisher-loc>
<publisher-name><![CDATA[World Bank Group]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B28">
<label>28</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kuchin]]></surname>
<given-names><![CDATA[I.]]></given-names>
</name>
<name>
<surname><![CDATA[Baranovsky]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
<name>
<surname><![CDATA[Dranev]]></surname>
<given-names><![CDATA[Y.]]></given-names>
</name>
<name>
<surname><![CDATA[Chulok]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Does Green Bonds Placement Create Value For Firms?]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2019</year>
</nlm-citation>
</ref>
<ref id="B29">
<label>29</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Larcker]]></surname>
<given-names><![CDATA[D. F.]]></given-names>
</name>
<name>
<surname><![CDATA[Watts]]></surname>
<given-names><![CDATA[E. M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Where&#8217;s the greenium?]]></article-title>
<source><![CDATA[Journal of Accounting and Economics]]></source>
<year>2020</year>
<volume>69</volume>
<numero>2-3</numero>
<issue>2-3</issue>
</nlm-citation>
</ref>
<ref id="B30">
<label>30</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lebelle]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Lajili Jarjir]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Sassi]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Corporate Green Bond Issuances: An International Evidence]]></article-title>
<source><![CDATA[Journal of Risk and Financial Management]]></source>
<year>2020</year>
<volume>13</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>25</page-range></nlm-citation>
</ref>
<ref id="B31">
<label>31</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Li]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
<name>
<surname><![CDATA[Faridi]]></surname>
<given-names><![CDATA[M. Z.]]></given-names>
</name>
<name>
<surname><![CDATA[Nazar]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[How does green finance asymmetrically affect greenhouse gas emissions? Evidence from the top-ten green bond issuer countries]]></article-title>
<source><![CDATA[Borsa Istanbul Review]]></source>
<year>2023</year>
<volume>23</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>887-94</page-range></nlm-citation>
</ref>
<ref id="B32">
<label>32</label><nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Matthews]]></surname>
<given-names><![CDATA[J.B.R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Annex I: Glossary]]></article-title>
<person-group person-group-type="editor">
<name>
<surname><![CDATA[Masson-Delmotte]]></surname>
<given-names><![CDATA[V.]]></given-names>
</name>
</person-group>
<source><![CDATA[Global Warming of 1.5°C. An IPCC Special Report on the impacts of global warming of 1.5°C above pre-industrial levels and related global greenhouse gas emission pathways, in the context of strengthening the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty]]></source>
<year>2018</year>
<page-range>541-62</page-range><publisher-loc><![CDATA[Cambridge, UK and New York, NY, USA ]]></publisher-loc>
<publisher-name><![CDATA[Cambridge University Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B33">
<label>33</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Mejia-Escobar]]></surname>
<given-names><![CDATA[J. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Gonzalez-Ruiz]]></surname>
<given-names><![CDATA[J. D.]]></given-names>
</name>
<name>
<surname><![CDATA[Franco-Sepulveda]]></surname>
<given-names><![CDATA[G.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Current State and Development of Green Bonds Market in the Latin America and the Caribbean]]></article-title>
<source><![CDATA[Sustainability]]></source>
<year>2021</year>
<volume>13</volume>
<numero>19</numero>
<issue>19</issue>
</nlm-citation>
</ref>
<ref id="B34">
<label>34</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Nanayakkara]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Colombage]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Do investors in Green Bond market pay a premium? Global evidence]]></article-title>
<source><![CDATA[Applied Economics]]></source>
<year>2019</year>
<volume>51</volume>
<numero>40</numero>
<issue>40</issue>
<page-range>4425-37</page-range></nlm-citation>
</ref>
<ref id="B35">
<label>35</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ng]]></surname>
<given-names><![CDATA[T. H.]]></given-names>
</name>
<name>
<surname><![CDATA[Tao]]></surname>
<given-names><![CDATA[J. Y.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Bond financing for renewable energy in Asia]]></article-title>
<source><![CDATA[Energy Policy]]></source>
<year>2016</year>
<volume>95</volume>
<page-range>509-17</page-range></nlm-citation>
</ref>
<ref id="B36">
<label>36</label><nlm-citation citation-type="">
<collab>OECD</collab>
<source><![CDATA[Green bonds: Country experiences, barriers and options]]></source>
<year>2016</year>
</nlm-citation>
</ref>
<ref id="B37">
<label>37</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Partridge]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
<name>
<surname><![CDATA[Medda]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Premium in the Primary and Secondary U.S. Municipal Bond Markets]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2018</year>
</nlm-citation>
</ref>
<ref id="B38">
<label>38</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Reed]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
<name>
<surname><![CDATA[Cort]]></surname>
<given-names><![CDATA[T.]]></given-names>
</name>
<name>
<surname><![CDATA[Yonavjak]]></surname>
<given-names><![CDATA[L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Data-Driven Green Bond Ratings as a Market Catalyst]]></article-title>
<source><![CDATA[The Journal of Investing]]></source>
<year>2019</year>
<volume>28</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>66-76</page-range></nlm-citation>
</ref>
<ref id="B39">
<label>39</label><nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Restrepo-Ochoa]]></surname>
<given-names><![CDATA[D. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Restrepo-Castro]]></surname>
<given-names><![CDATA[L. F.]]></given-names>
</name>
<name>
<surname><![CDATA[Lozada]]></surname>
<given-names><![CDATA[J. M.]]></given-names>
</name>
<name>
<surname><![CDATA[Aguilera]]></surname>
<given-names><![CDATA[C. A.]]></given-names>
</name>
<name>
<surname><![CDATA[Franco]]></surname>
<given-names><![CDATA[J. F.]]></given-names>
</name>
<name>
<surname><![CDATA[Pinela]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
<name>
<surname><![CDATA[Costa]]></surname>
<given-names><![CDATA[L.]]></given-names>
</name>
</person-group>
<source><![CDATA[The potential of the Green Bond Markets in Latin America and the Caribbean]]></source>
<year>2020</year>
<publisher-name><![CDATA[EU-LAC Foundation]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B40">
<label>40</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Rose]]></surname>
<given-names><![CDATA[P.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Certifying the &#8220;Climate&#8221; in Climate Bonds]]></article-title>
<source><![CDATA[Capital Markets Law Journal]]></source>
<year>2018</year>
<volume>14</volume>
<numero>1</numero>
<issue>1</issue>
</nlm-citation>
</ref>
<ref id="B41">
<label>41</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Roslen]]></surname>
<given-names><![CDATA[S. N. M.]]></given-names>
</name>
<name>
<surname><![CDATA[Yee]]></surname>
<given-names><![CDATA[L. S.]]></given-names>
</name>
<name>
<surname><![CDATA[Ibrahim]]></surname>
<given-names><![CDATA[S. A. B.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Green Bond and shareholders&#8217; wealth: A multi-country event study]]></article-title>
<source><![CDATA[International Journal of Globalisation and Small Business]]></source>
<year>2017</year>
<volume>9</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>61</page-range></nlm-citation>
</ref>
<ref id="B42">
<label>42</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Ryszawska]]></surname>
<given-names><![CDATA[B.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Sustainability transition needs sustainable finance]]></article-title>
<source><![CDATA[Copernican Journal of Finance and Accounting]]></source>
<year>2016</year>
<volume>5</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>185-94</page-range></nlm-citation>
</ref>
<ref id="B43">
<label>43</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Saeed Meo]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Karim]]></surname>
<given-names><![CDATA[M. Z. A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The role of green finance in reducing CO2 emissions: An empirical analysis]]></article-title>
<source><![CDATA[Borsa Istanbul Review]]></source>
<year>2022</year>
<volume>22</volume>
<numero>1</numero>
<issue>1</issue>
<page-range>169-78</page-range></nlm-citation>
</ref>
<ref id="B44">
<label>44</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Shishlov]]></surname>
<given-names><![CDATA[I.]]></given-names>
</name>
<name>
<surname><![CDATA[Morel]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
<name>
<surname><![CDATA[Cochran]]></surname>
<given-names><![CDATA[I.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Beyond transparency: Unlocking the full potential of green bonds]]></article-title>
<source><![CDATA[Institute for Climate Economics]]></source>
<year>2016</year>
</nlm-citation>
</ref>
<ref id="B45">
<label>45</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Tang]]></surname>
<given-names><![CDATA[D. Y.]]></given-names>
</name>
<name>
<surname><![CDATA[Zhang]]></surname>
<given-names><![CDATA[Y.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Do shareholders benefit from green bonds?]]></article-title>
<source><![CDATA[Journal of Corporate Finance]]></source>
<year>2020</year>
</nlm-citation>
</ref>
<ref id="B46">
<label>46</label><nlm-citation citation-type="">
<collab>The Climate Bonds Interactive Data Platform</collab>
<source><![CDATA[Green Bond Database]]></source>
<year>2023</year>
</nlm-citation>
</ref>
<ref id="B47">
<label>47</label><nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Uribe]]></surname>
<given-names><![CDATA[S.]]></given-names>
</name>
</person-group>
<source><![CDATA[Análisis de la rentabilidad financiera de los bonos verdes en comparación con bonos ordinarios en Latinoamérica durante el período 2015-2025]]></source>
<year>2019</year>
<publisher-loc><![CDATA[Colombia ]]></publisher-loc>
<publisher-name><![CDATA[Universidad de los Andes]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B48">
<label>48</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Verma]]></surname>
<given-names><![CDATA[R. K.]]></given-names>
</name>
<name>
<surname><![CDATA[Bansal]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Stock Market Reaction on Green-Bond Issue: Evidence from Indian Green-Bond Issuers]]></article-title>
<source><![CDATA[Vision: The Journal of Business Perspective]]></source>
<year>2023</year>
<volume>27</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>264-72</page-range></nlm-citation>
</ref>
<ref id="B49">
<label>49</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Wang]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Chen]]></surname>
<given-names><![CDATA[X.]]></given-names>
</name>
<name>
<surname><![CDATA[Li]]></surname>
<given-names><![CDATA[X.]]></given-names>
</name>
<name>
<surname><![CDATA[Yu]]></surname>
<given-names><![CDATA[J.]]></given-names>
</name>
<name>
<surname><![CDATA[Zhong]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The market reaction to green bond issuance: Evidence from China]]></article-title>
<source><![CDATA[Pacific-Basin Finance Journal]]></source>
<year>2020</year>
<volume>60</volume>
</nlm-citation>
</ref>
<ref id="B50">
<label>50</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Wulandari]]></surname>
<given-names><![CDATA[F.]]></given-names>
</name>
<name>
<surname><![CDATA[Schaefer]]></surname>
<given-names><![CDATA[D.]]></given-names>
</name>
<name>
<surname><![CDATA[Stephan]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
<name>
<surname><![CDATA[Sun]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Liquidity Risk and Yield Spreads of Green Bonds]]></article-title>
<source><![CDATA[SSRN Electronic Journal]]></source>
<year>2018</year>
</nlm-citation>
</ref>
<ref id="B51">
<label>51</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Yang]]></surname>
<given-names><![CDATA[Z.]]></given-names>
</name>
<name>
<surname><![CDATA[Nguyen]]></surname>
<given-names><![CDATA[T. T. H.]]></given-names>
</name>
<name>
<surname><![CDATA[Nguyen]]></surname>
<given-names><![CDATA[H. N.]]></given-names>
</name>
<name>
<surname><![CDATA[Nguyen]]></surname>
<given-names><![CDATA[T. T. N.]]></given-names>
</name>
<name>
<surname><![CDATA[Cao]]></surname>
<given-names><![CDATA[T. T.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Greenwashing Behaviours: Causes, Taxonomy and Consequences based on a Systematic Literature Review]]></article-title>
<source><![CDATA[Journal of Business Economics and Management]]></source>
<year>2020</year>
<volume>21</volume>
<numero>5</numero>
<issue>5</issue>
<page-range>1486-507</page-range></nlm-citation>
</ref>
<ref id="B52">
<label>52</label><nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Zerbib]]></surname>
<given-names><![CDATA[O. D.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The effect of pro-environmental preferences on bond prices: Evidence from green bonds]]></article-title>
<source><![CDATA[Journal of Banking &amp; Finance]]></source>
<year>2019</year>
<volume>98</volume>
<page-range>39-60</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
