Financing climate policies through climate bonds – A three stage model and empirics

Flaherty, Michael; Gevorkyan, Aleksandr V.; Radpour, Siavash; Semmler, Willi

doi:10.1016/j.ribaf.2016.06.001

Cited by 163 publications

(61 citation statements)

References 2 publications

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“…Sin embargo, este mercado internacionalmente despega en 2013, cuando la Corporación Financiera Internacional (CFI) vendió un bono verde de US$ 1 mil millones, abriéndose este mercado de emisores en una variedad de sectores y con calificaciones crediticias variables. Se ha iniciado con emisiones de alto rendimiento, pero se espera que aumenten a medida que más corporaciones participen (Flaherty, Gevorkyan, Radpour & Semmler, 2017).…”

Section: Conclusiones Y Discusiónunclassified

Perspectivas del financiamiento corporativo y el mercado de valores del Perú

Zegarra

2020

retos

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El grado de desarrollo de los mercados financieros son un indicativo del crecimiento económico de los países. Una alternativa para el financiamiento de las empresas es la colocación de bonos corporativos a través del mercado de valores, así, este estudio pretende revisar el comportamiento en el mercado de valores peruano relativo a las emisiones de bonos corporativos comparativamente durante los periodos 2005-2010 y 2015-2019, como reflejo de la situación del mercado actual peruano. Es una investigación de tipo documental y descriptiva, recopilando datos relativos a las colocaciones de bonos corporativos (montos, plazos de vencimiento y tasas de interés), mediante la revisión de notas de prensa de la Superintendencia del Mercado de Valores (SMV) y los respectivos informes acumulados, de las diferentes compañías clasificadoras de riesgo aprobadas por SMV, para cada una de las empresas en estudio. Se observó en promedio un aumento en las emisiones, así como la disminución de las tasas de interés y ambas tendencias, fueron estadísticamente significativas. Por otra parte, dos de las empresas revisadas, emitieron bonos verdes tanto en el mercado nacional como en el internacional. Estos, son indicadores favorables para la economía del Perú, los cuales validan que viene en crecimiento y más aún, predispuestas al cambio global en donde se busca más que el financiamiento empresarial, un impacto positivo en el ámbito social y en el medio ambiente, con la emisión de bonos verdes.

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Section: Conclusiones Y Discusiónunclassified

Perspectivas del financiamiento corporativo y el mercado de valores del Perú

Zegarra

2020

retos

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“…international conferences on climate change and fund raising activities to combat global warming stress now that it is advisable to pursue both mitigation as well as adaptation policies Semmler 2009, 2012;Flaherty et al 2016). While climate justice will require both, climate change mitigation and adaptation, concurrently, no macroeconomic model exists to date that considers both approaches at once (Greiner, Semmler and Mette 2008).…”

Section: Mitigation and Adaptation Policies Against Climate Riskmentioning

confidence: 99%

“…Bonds are primarily used by companies, municipalities, states and sovereign governments to raise money and finance a variety of future-oriented long-term projects and activities. This solution appears as real-world relevant means to tap into the worldwide USD 80 trillion bond market in order to fund the incentives to a transition to a sustainable paths (Flaherty, Gevorkyan, Radpour & Semmler 2016;World Bank 2015). Carbon tax will also be introduced.…”

Section: Introductionmentioning

confidence: 99%

Climate Policies with Burden Sharing: The Economics of Climate Financing

Puaschunder¹

2018

Advances in Financial Economics

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The maintenance of a favorable climate accounts for the most challenging contemporary global governance predicament that seems to pit today's generation against future world inhabitants. In a trade-off of economic growth versus sustainability, a broad-based international coalition could establish climate justice. As a novel angle towards climate justice, the following paper proposes (1) a well-balanced climate mitigation and adaptation public policy mix guided by micro-and macroeconomic analysis results, and (2) a new way of funding climate change mitigation and adaptation policies through carbon tax and broad-based climate bonds that also involve future generations. Contemporary climate financing strategies (e.g., Sachs Model) are thereby added into Integrated Assessment Models of the Nordhaus Type. Overall, the paper strives to delve deeper into a discussion of how market economies can be brought to a path consistent with prosperity and sustainability. Finding innovative ways how to finance climate abatement over time coupled with future risk prevention as well as adaptation to higher temperatures appears as an innovative and easily-implementable solution to nudge overlapping generations towards climate justice in the sustainability domain.

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“…al., 2015, Bell et al, 2007Dessai 2003;Fay et al, 2010;Flaherty, et al, 2016;Lecocq & Shalizi, 2007). The economic impacts of CC in many cases address on global scale effects are discussed by (Stern 2007;Fay et al, 2010;Metz 2007) and some predictions of these studies have been given in Appendix A.…”

Section: Literature Reviewmentioning

confidence: 99%

How Might Climate Change Affect Microeconomic Wellbeing in Central Asia

Burkhanov

Saburova

2017

CBUP

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Climate change may pose serious challenges to the economies of Central Asian countries, but in-depth studies on a national level are lacking. The paper is aimed to contribute filling this gap and devoted to assessing the economic impacts of climate change in selected areas of Central Asia. The methods of the desk study and documental analysis are used to summarize the adverse effects of climate change in rural livelihoods. Moreover, the preliminary results of the survey conducted in selected regions of Fergana valley within MikroKlima project used as a corresponding data for economic impact analysis on a household level. The results reveal that the effects of unfavorable weather conditions uneven for short and long term, and across Central Asia. Moreover, the most potential damage from climate change will affect the rural population, and there is also a high positive correlation between water shortage, increased aridity, and poverty, aggravated by climate change. JEL Classification numbers: Q51, Q54, O11, O18; DOI: http://dx.doi.org/10.12955/cbup.v5.905

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Financing climate policies through climate bonds – A three stage model and empirics

Cited by 163 publications

References 2 publications

Perspectivas del financiamiento corporativo y el mercado de valores del Perú

Perspectivas del financiamiento corporativo y el mercado de valores del Perú

Climate Policies with Burden Sharing: The Economics of Climate Financing

How Might Climate Change Affect Microeconomic Wellbeing in Central Asia

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