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Purchases of green bonds under the Eurosystem’s asset purchase programme

Author

Listed:
  • De Santis, Roberto A.
  • Roos, Madelaine
  • Hettler, Katja
  • Tamburrini, Fabio

Abstract

This box analyses the impact of the Eurosystem's asset purchase programme (APP) on the growing market for 'green bonds'. It describes the composition of the Eurosystem's green bond holdings and assesses developments in prices and outstanding volumes of green bonds, before discussing the extent to which these may have been affected by the APP. JEL Classification: G11, G12, Q59, E59

Suggested Citation

  • De Santis, Roberto A. & Roos, Madelaine & Hettler, Katja & Tamburrini, Fabio, 2018. "Purchases of green bonds under the Eurosystem’s asset purchase programme," Economic Bulletin Boxes, European Central Bank, vol. 7.
    • Handle: RePEc:ecb:ecbbox:2018:0007:1
    Note: 185689
    as

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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2018/html/ecb.ebbox201807_01.en.html
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Alessandro Ferrari & Valerio Nispi Landi, 2022. "Toward a green economy: the role of central bank's asset purchases," Temi di discussione (Economic working papers) 1358, Bank of Italy, Economic Research and International Relations Area.
    2. Peter Breyer & Eleonora Endlich & Dieter Huber & Doris Oswald & Christoph Prenner & Lukas Reiss & Martin Schneider & Walter Waschiczek, 2021. "Corporate equity finance in Austria – impediments and possible improvements," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/21, pages 39-57.
    3. Andreas Breitenfellner & Wolfgang Pointner & Helene Schuberth, 2019. "The Potential Contribution of Central Banks to Green Finance," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 88(2), pages 55-71.
    4. Setzer, Joana & Higham, Catherine & Jackson, Andrew & Solana, Javier, 2021. "Climate change litigation and central banks," Legal Working Paper Series 21, European Central Bank.
    5. Liebich, Lena & Nöh, Lukas & Rutkowski, Felix Joachim & Schwarz, Milena, 2021. "Unconventionally green: A monetary policy between engagement and conflicting goals," Working Papers 05/2021, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
    6. van 't Klooster, Jens & van Tilburg, Rens, 2020. "Targeting a sustainable recovery with Green TLTROs," SocArXiv 2bx8h, Center for Open Science.
    7. Andersson, Malin & Baccianti, Claudio & Morgan, Julian, 2020. "Climate change and the macro economy," Occasional Paper Series 243, European Central Bank.
    8. Carolin Schellhorn, 2020. "Financial System Stability, the Timing of Climate Change Action and the Federal Reserve," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(3), pages 45-59.

    More about this item

    Keywords

    APP; bond markets; CSPP; green bonds; PSPP;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

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