ЗЕЛЕНИ ОБЛИГАЦИИ В ЕВРОПА: КЪМ ПОВЕЧЕ НЕБАНКОВА ДЕЙНОСТ
GREEN BONDS IN EUROPE: TOWARDS MORE NON-BANKING ACTIVITIES

Author(s): Sarah Goldman
Subject(s): Economy, Business Economy / Management, Human Resources in Economy
Published by: Висше училище по застраховане и финанси (ВУЗФ)
Keywords: Green finance; Bonds; Shadow-banking; Money Market Bonds; Bank and insurance systems
Summary/Abstract: With climate change concerns, Green bonds seem to be the key variable of the sustainable development. The European Commission (EC) has attempted to define European Green Bond standards in order to provide a legal framework for the development of Green Bonds (GB) in Europe. Unfortunately, until now, standards are still in the making and the taxonomy will probably be ready in 2022 in order to optimally orient the traditional finance towards the sustainable finance. Green bonds are important innovations of the financial landscape and they may be a solution to tackle climate change and environmental issues. Given the recent availability of Green Bonds databases and the difficulties to provide reliable definitions in this field, only few empirical studies attempt to capture the nature of the Green Bonds. Currently, the time series of GB start in 2013 to end in 2020 This is a quite small sample to provide robust and consistent econometric results but the database can be used for statistical purposes.

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