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Financiando las políticas climáticas y de sostenibilidad: el impacto de los bonos sostenibles en el País Vasco

Author

Listed:
  • Itziar Ruiz-Gauna

    (Metroeconomica, S.L.)

  • Ibon Galarraga

    (Metroeconomica, S.L. y Basque Centre for Climate Change (BC3))

  • Patxi Greño

    (Metroeconomica, S.L)

Abstract

Climate finance refers to the flow of financial resources for the fight against climate change and contribute to the achievement of the Sustainable Development Goals (SDG). The debt market can play an essential role through Sustainability Bonds. To finance projects aligned with the SDGs and the Agenda Basque Country 2030, in 2018, the Basque Government issued sustainability bonds for a total value of 500 million Euros. The aims of this paper are to assess the individual impact of each project using economic, social and environmental impact indicators; and to estimate the total impact of the bond on production, income and employment in the Basque Country using input-output tables. Results show that, for every euro invested, an increase in production of €1.69 and in income of €0.398 is generated. Likewise, for every million Euros invested, 16.79 jobs are created.

Suggested Citation

  • Itziar Ruiz-Gauna & Ibon Galarraga & Patxi Greño, 2020. "Financiando las políticas climáticas y de sostenibilidad: el impacto de los bonos sostenibles en el País Vasco," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 97(01), pages 83-111.
    • Handle: RePEc:ekz:ekonoz:2020104
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    More about this item

    Keywords

    Eusko Jaurlaritza; Gobierno Vasco; mercado de deuda; objetivos de desarrollo sostenible; tablas input-output;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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