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Zielone obligacje skarbowe jako sposob finansowania zadan publicznych
[Sovereign green bonds as a way of financing the public tasks]

Author

Listed:
  • Anna Laskowska

    (Nicolaus Copernicus University in Torun, Poland)

Abstract

Motivation: In the domestic and foreign literature on the subject there is a lack of extensive and compact studies devoted to sovereign green bonds. Therefore, it is justified to create a publication in which this problem would be taken in a holistic way. This article is an attempt to fill the presented cognitive deficiencies. Aim: The aim of the article is a comprehensive characterization of the global sovereign green bond market with particular emphasis on Polish issues. Materials and methods: The following analyzes were used: literature on the subject, industry reports, descriptive, comparative, inductive and case studies. Results: Sovereign green bonds became a segment of both the Polish and foreign capital markets as a result of issues carried out since 2016, and Poland became a pioneer of green treasury bonds. The research process allowed for a comprehensive analysis of the global sovereign green bonds market (twelve issues). Despite the fact that sovereign green bonds market is in the initial phase of existence, some development tendencies may be noticed. Factors determining the expansion of this segment include: capital mobilization, diversification of the investor base and improvement of the state’s image. It can therefore be presumed that the value of this market will systematically increase.

Suggested Citation

  • Anna Laskowska, 2019. "Zielone obligacje skarbowe jako sposob finansowania zadan publicznych [Sovereign green bonds as a way of financing the public tasks]," Catallaxy, Institute of Economic Research, vol. 4(2), pages 103-111, December.
    • Handle: RePEc:pes:iercxy:v:4:y:2019:i:2:p:103-111
    DOI: 10.24136/cxy.2019.010
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    Cited by:

    1. Sobik Bartosz, 2023. "Green bonds - financial innovation for sustainability financing: The case of the Polish green bonds market and their development barriers," Central European Economic Journal, Sciendo, vol. 10(57), pages 287-303, January.

    More about this item

    Keywords

    sustainable development of public finances; green bond; sovereign green bond;
    All these keywords.

    JEL classification:

    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • 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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