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Green Bonds: A Tool Against Climate Change

In: HANDBOOK OF ENVIRONMENTAL AND GREEN FINANCE Toward a Sustainable Future

Author

Listed:
  • Han Wang
  • Elaine Laing

Abstract

This chapter aims to analyze the development of the green bond market from industry and academic perspectives. We provide an overview of green bonds, focusing on definitions, international green bond market frameworks, and risks and benefits for market participants. We raise awareness about the harmonization of green bond definitions and standards, the enhancement of green issuers’ information disclosure quality, and transparency in the market. A comprehensive survey of the green bond empirical literature pertinent to both investors and issuers is provided, highlighting five research streams: (i) the drivers of green bond market/issuances, (ii) the impact of green bond issuances on issuers’ performances, (iii) the existence of green bond premium, (iv) the determinants of green bond yields/premium, and (v) the correlations and diversification associated with the green bond market, contributing to comparisons across multi-divisional green studies. This chapter concludes with suggestions for future research directions.

Suggested Citation

  • Han Wang & Elaine Laing, 2024. "Green Bonds: A Tool Against Climate Change," World Scientific Book Chapters, in: Sabri Boubaker & Thai-Ha Le (ed.), HANDBOOK OF ENVIRONMENTAL AND GREEN FINANCE Toward a Sustainable Future, chapter 1, pages 3-35, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614451_0001
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    More about this item

    Keywords

    Green and Impact Bonds; Green Banking and Financing; Green Finance in Europe; ESG Performance; Climate Change; Climate Justice; Green Mortgages; Sustainable Transition; Renewable Energies; Green Transition in The EU;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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