Exploring the green bond market and its perspectives - A systematic review

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School of Business | Bachelor's thesis
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Authors

Date

2020

Department

Mikkelin kampus

Major/Subject

Mcode

Degree programme

(Mikkeli) Bachelor’s Program in International Business

Language

en

Pages

48

Series

Abstract

Objectives The main objective of this study is to explore the green bond (GB) market and the perspectives it might have in the world debt market. By systematically reviewing the existing literature on GB, the study aims to find general patterns in the GB market and thus evaluate its attractiveness in the overall debt market. Moreover, the study explores the challenges that might arise and slow down the growth of the green bond market. Summary This study provides a systematic review of the existing literature on green bonds. Theoretical, analytical and empirical research is critiqued and synthesized in order to explore the green bond market and various characteristics of green bonds. Some elements of meta procedure were employed. Conclusions Green bonds are becoming increasingly popular in recent years, with a noticeable increasing maturity of the green bond market. Although it is still largely dependent on the treasury and currency markets, namely USD, the number of unique corporate issuers and the issue amount is increasing every year. For green bonds to account for more than 1% of overall debt market share, cost of issuance must be less. Government subsidies are essential in a form of the tax break and tax exemption. Also, clear universal guidelines should be implemented and regulated.

Description

Thesis advisor

Rannikko, Heikki

Keywords

green bond, impact finance, sustainability, responsible investing, green bond market, debt market

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Permanent link to this item

https://urn.fi/URN:NBN:fi:aalto-202005103105

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[kand] Kauppakorkeakoulu / BIZ