Charakterystyka globalnego rynku obligacji klimatycznych
The Climate Bond Global Market Characteristics

Summary/Abstract: Purpose – The article aims at analyzing climate bond market. The primary objective of the study was to determine trends in the global market of these instruments. We analyzed the structure of the issuers’ nationality, time to maturity and yield to maturity of the instruments; the currency in which the bonds are denominated; markets where they are placed, as well as the type of interest payment and the purpose of the issuance. Design/methodology/approach – Study is based on the data from Thompson Reuters Eikon database. We used basic statistical tools: the arithmetic mean, median and standard deviation. Statistical research analysis is supplemented by literature studies of climate bonds reports and previous research. Findings – Despite relatively young age, the climate bonds market is developing very dynamically. Increasing activity of private issuers has been observed. There is also increasing number of issues offered by Scandinavian operators. The growing importance of issuances is carried out by international development banks in developing countries. The diversity of the issuance’s goal also increases. Originality/value – The article is one of the few publications about climate bonds. It is also one of the first papers focused on empirical and analytical issues of these instruments.

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