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Practices And Policies In The Green Sovereign Bond Market: Some Developments In The European Union

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  • Claudia Gabriela Baicu

Abstract

The European Union has set ambitious environmental targets, which requires significant investment, and green bonds are one of the prominent instruments designed to finance environmentally friendly projects. Against this background, the main objective of this paper is to investigate the role of the European Union in the green bond market, with a focus on the issuance of green sovereign bonds. The research, based on comparisons and case studies from some countries, highlights that the European Union holds an important place on the international green bond market, reflected, among other things, in the cumulative volume of bonds and the role of the single European currency in such transactions. Sovereign issuers entered the green bond market relatively late, but the European Union has also made relevant contributions to the formation and development of this segment. Nevertheless, the international green bond market is still small. Therefore, measures to promote this market at both European and international level should be intensified.

Suggested Citation

  • Claudia Gabriela Baicu, 2023. "Practices And Policies In The Green Sovereign Bond Market: Some Developments In The European Union," Euroinfo, Institute for World Economy, Romanian Academy, vol. 7(2), pages 31-42, June.
    • Handle: RePEc:iem:eurinf:v:7:y:2023:i:2:p:31-42
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    More about this item

    Keywords

    green finance; green bonds; green sovereign bonds; European Green Deal; European Union;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • 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

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