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Does Financing Strategy Accelerate Corporate Energy Transition? Evidence from Green Bonds

Author

Listed:
  • Mohammed Benlemlih

    (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie)

  • J. Jaballah
  • L. Kermiche

Abstract

With energy transition becoming an urgent priority for companies worldwide, practitioners and policymakers are urging them to finance climate-friendly projects. This paper investigates how the issuance of green bonds affects firms' carbon emissions and environmental performance. Our results show that green bond issuance significantly improves firms' overall environmental performance and their capacities to create new environmental technologies and processes. However, green bond issuance has a less clear effect on carbon emissions intensity and requires additional time (one or more years) before being able to improve the emissions intensity. Taken together, our study's findings clearly highlight the importance of green bonds in financing energy transition in the corporate sector and provide evidence to encourage policymakers to strengthen the legal framework relating to their issuance. \textcopyright 2022 ERP Environment and John Wiley & Sons Ltd.

Suggested Citation

  • Mohammed Benlemlih & J. Jaballah & L. Kermiche, 2023. "Does Financing Strategy Accelerate Corporate Energy Transition? Evidence from Green Bonds," Post-Print hal-04434020, HAL.
    • Handle: RePEc:hal:journl:hal-04434020
    DOI: 10.1002/bse.3180
    as

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