ZELENE OBVEZNICE I ULOGA CENTRALNIH BANAKA I JAVNOG SEKTORA KAO FAKTORA TRANSFORMACIJE KA ZELENOJ EKONOMIJI
GREEN BONDS AND THE ROLE OF CENTRAL BANKS AND THE PUBLIC SECTOR AS FACTORS OF TRANSFORMATION TOWARDS A GREEN ECONOMY

Author(s): Branka Topić Pavković
Subject(s): Economy, Energy and Environmental Studies, Financial Markets
Published by: Finrar d.o.o Banja Luka
Keywords: green bonds; central banks; public sector; renewable energy sources; sustainable economic development;
Summary/Abstract: The development and concept of green bonds stemmed from the new role of the financial and public sector as a generator of green transition and especially the influence of central banks in greening financial systems. The green bond market dates back to 2007, with the launch of the Green Bond program by the World Bank. The green economy means the use of renewable energy from various natural resources while ensuring environmental protection, sustainable economic growth and human well-being. These investments are mostly related to the use of renewable energy from biomass, solar panels, wind farms, recycled waste and the like, and like all investments, it is necessary to find sources of funds and interest investors in these projects. Central banks are increasingly involved in sustainable development policies, and as a result, they are directing part of their foreign exchange reserves to green bonds. This paper examines the importance of including green bonds in the portfolio of central banks with an emphasis on one of the basic fiscal goals today, and that is sustainable development in the conditions of green transition. The change in the role of central banks and their adjustment in incorporating environmental sustainability goals is considered.

• Details
• Contents