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Demystifying green bonds

In: Research Handbook of Investing in the Triple Bottom Line

Author

Listed:
  • Kathrin Berensmann
  • Florence Dafe
  • Nannette Lindenberg

Abstract

This chapter addresses the potential and challenges of green bonds to finance ecologically sustainable investments. Governments, investors and the media have hailed green bonds as a key instrument of climate finance because of their prospects for tapping the trillions of dollars held in global bonds markets and by institutional investors. Does the explosive issuance of green bonds mean that bonds markets are ‘greening’? This chapter details the growth of the green bonds market, the appeal of green bonds to investors and challenges to the market’s development. One major conclusion is that a weak governance framework limits how much green bonds can contribute to sustainable development. In order to ensure that the green bonds market matures with integrity, weaknesses in governance structures must be addressed. The chapter concludes by providing policy recommendations for developing the green bonds market.

Suggested Citation

  • Kathrin Berensmann & Florence Dafe & Nannette Lindenberg, 2018. "Demystifying green bonds," Chapters, in: Sabri Boubaker & Douglas Cumming & Duc K. Nguyen (ed.), Research Handbook of Investing in the Triple Bottom Line, chapter 15, pages 333-352, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:17813_15
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    Citations

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    Cited by:

    1. Berensmann, Kathrin, 2017. "Upscaling green bond markets: the need for harmonised green bond standards," Briefing Papers 12/2017, German Institute of Development and Sustainability (IDOS).
    2. Berensmann, Kathrin & Lindenberg, Nannette, 2016. "Green Finance: Akteure, Herausforderungen und Politikempfehlungen," Analysen und Stellungnahmen 14/2016, German Institute of Development and Sustainability (IDOS).
    3. Berensmann, Kathrin & Lindenberg, Nannette, 2016. "Green finance: actors, challenges and policy recommendations," Briefing Papers 23/2016, German Institute of Development and Sustainability (IDOS).
    4. Andrew Chapman & Hidemichi Fujii & Shunsuke Managi, 2018. "Key Drivers for Cooperation toward Sustainable Development and the Management of CO 2 Emissions: Comparative Analysis of Six Northeast Asian Countries," Sustainability, MDPI, vol. 10(1), pages 1-12, January.
    5. Berensmann, Kathrin, 2017. "Ausweitung des Marktes für grüne Anleihen: die Notwendigkeit für harmonisierte Standards bei grünen Anleihen," Analysen und Stellungnahmen 13/2017, German Institute of Development and Sustainability (IDOS).
    6. Baldi, Francesco & Pandimiglio, Alessandro, 2022. "The role of ESG scoring and greenwashing risk in explaining the yields of green bonds: A conceptual framework and an econometric analysis," Global Finance Journal, Elsevier, vol. 52(C).
    7. Ursule Yvanna Otek Ntsama & Chen Yan & Alireza Nasiri & Abdel Hamid Mbouombouo Mboungam, 2021. "Green bonds issuance: insights in low- and middle-income countries," International Journal of Corporate Social Responsibility, Springer, vol. 6(1), pages 1-9, December.
    8. Berensmann, Kathrin & Dafe, Florence & Kautz, Miriam & Lindenberg, Nannette, 2016. "Green bonds: taking off the rose-coloured glasses," Briefing Papers 24/2016, German Institute of Development and Sustainability (IDOS).
    9. Berensmann, Kathrin & Dafe, Florence & Kautz, Miriam & Lindenberg, Nannette, 2017. "Grüne Anleihen: ohne rosarote Brille betrachtet," Analysen und Stellungnahmen 7/2017, German Institute of Development and Sustainability (IDOS).

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