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The Viability of Green Bonds as a Financing Mechanism for Energy-Efficient Green Buildings in ASEAN: Lessons from Malaysia and Singapore

In: Energy Efficiency Financing and Market-Based Instruments

Author

Listed:
  • Anant Kapoor

    (Punya)

  • En-Qi Teo

    (National University of Singapore)

  • Dina Azhgaliyeva

    (Asian Development Bank Institute)

  • Yang Liu

    (African Development Bank)

Abstract

As the growth of energy demand outstrips that of energy supply in Southeast Asia, it is imperative for the Association of Southeast Asian Nations (ASEAN) member states to seek energy efficiency improvements for sustained energy security. While green buildings have an overall low penetration rate in ASEAN compared to the rest of the world, a relatively large proportion of green bond proceeds in ASEAN have been channeled to financing green buildings. Green bonds hold vast potential as a financing mechanism, and the importance of green bonds as a funding source for green buildings in ASEAN is projected to increase in the future. ASEAN member state governments can encourage the use of this source of finance to address under-investment in green buildings by providing information on raising funds through green bonds, endorsing investment in green buildings through codifying green building standards, and promoting local currency bond financing through domestic investors.

Suggested Citation

  • Anant Kapoor & En-Qi Teo & Dina Azhgaliyeva & Yang Liu, 2021. "The Viability of Green Bonds as a Financing Mechanism for Energy-Efficient Green Buildings in ASEAN: Lessons from Malaysia and Singapore," Economics, Law, and Institutions in Asia Pacific, in: Yang Liu & Farhad Taghizadeh-Hesary & Naoyuki Yoshino (ed.), Energy Efficiency Financing and Market-Based Instruments, chapter 0, pages 263-286, Springer.
    • Handle: RePEc:spr:eclchp:978-981-16-3599-1_12
    DOI: 10.1007/978-981-16-3599-1_12
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    Cited by:

    1. Azhgaliyeva, Dina & Rahut, Dil, 2022. "Promoting Green Buildings: Barriers, Solutions, and Policies," ADBI Working Papers 1331, Asian Development Bank Institute.

    More about this item

    Keywords

    Green buildings; Green bonds; Energy efficiency; ASEAN; Green sukuk; ICMA green bond principles; ASEAN green bond standards; Sustainable finance;
    All these keywords.

    JEL classification:

    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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