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Green Bonds and Climate Finance

In: Climate Finance Theory and Practice

Author

Listed:
  • Christa Clapp
  • Kamleshan Pillay

Abstract

Green bonds apply environmental labelling to traditional bonds for financing green and climate projects. The green bond market has grown rapidly in recent years, and shows promise for furthering climate action. Multilateral development banks have been most active in issuing green bonds to support their environment and development agendas, but corporations and municipalities are also beginning to issue green bonds. To what extent can green bonds provide finance for climate action in developing countries? Emerging economies are becoming more active in the green bond market. The case of Johannesburg, the first city in an emerging country to issue a green bond, is examined for potential replication. Challenges and opportunities relating to green bond demonstration and governance, de-risking, and green integrity are also explored.

Suggested Citation

  • Christa Clapp & Kamleshan Pillay, 2017. "Green Bonds and Climate Finance," World Scientific Book Chapters, in: Anil Markandya & Ibon Galarraga & Dirk Rübbelke (ed.), Climate Finance Theory and Practice, chapter 5, pages 79-105, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814641814_0005
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    Cited by:

    1. Asima Siddique & Ghulam Mujtaba Kayani & Saira Ashfaq, 2021. "Does Heterogeneity in COVID-19 News Affect Asset Market? Monte-Carlo Simulation Based Wavelet Transform," JRFM, MDPI, vol. 14(10), pages 1-16, October.
    2. Lee, Chi-Chuan & Lee, Chien-Chiang & Li, Yong-Yi, 2021. "Oil price shocks, geopolitical risks, and green bond market dynamics," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).

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