IDEAS home Printed from https://ideas.repec.org/a/eee/jbfina/v158y2024ics0378426623002376.html
   My bibliography  Save this article

How effectively do green bonds help the environment?

Author

Listed:
  • ElBannan, Mona A.
  • Löffler, Gunter

Abstract

We document a significantly negative relationship between the volume of issued green bonds and the future carbon intensity of non-financial corporates; this relationship is limited to firms with higher financial constraints and higher credit risk. The findings suggest that green bonds can help firms finance carbon reductions, but they also indicate that a considerable fraction of green bond financing does not lead to measurable benefits for the environment.

Suggested Citation

  • ElBannan, Mona A. & Löffler, Gunter, 2024. "How effectively do green bonds help the environment?," Journal of Banking & Finance, Elsevier, vol. 158(C).
    • Handle: RePEc:eee:jbfina:v:158:y:2024:i:c:s0378426623002376
    DOI: 10.1016/j.jbankfin.2023.107051
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0378426623002376
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbankfin.2023.107051?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Martijn A. Boermans & Maurice Bun & Yasmine van der Straten, 2024. "Funding the Fittest? Pricing of Climate Transition Risk in the Corporate Bond Market," Working Papers 797, DNB.

    More about this item

    Keywords

    Green bonds; Carbon emissions; Climate change; Sustainable finance;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbfina:v:158:y:2024:i:c:s0378426623002376. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbf .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.