Sustainable Capital Market

Stoian, Andreea; Iorgulescu, Filip

doi:10.1007/978-3-030-16522-2_8

Cited by 8 publications

(9 citation statements)

References 26 publications

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“…The first green bonds were issued in 2007 and 2008 by two supranational agencies: the European Investment Bank (EIB) and the World Bank (Stoian & Iorgulescu, 2019). The latter bond was issued after a group of Swedish pension funds inquired about investment products that addressed climate change (World Bank, 2019).…”

Section: Developmentmentioning

confidence: 99%

“…The first billion dollar offering was made by the International Finance Corporation and sold out within the first hour of issuance (Wang, 2018). With another big green bond from the EIB, this prompted the first run of corporate green bonds and new issues grew from $US 3.1 billion to $36.6 billion inside two years (Stoian & Iorgulescu, 2019). This rapid growth increased demand for green bond performance data.…”

Section: Developmentmentioning

confidence: 99%

“…This rapid growth increased demand for green bond performance data. The first green bond indices were launched in 2014 and signalled the market was beginning to mature (Stoian & Iorgulescu, 2019). Finally, the GBPs were formally released in 2014 (Ehlers & Packer, 2017).…”

Section: Developmentmentioning

confidence: 99%

“…Between 2015 and 2016, the number of new issues doubled and the market diversified in terms of countries, issuers, and the use-of-proceeds (Stoian & Iorgulescu, 2019). This growth was mainly driven by a surge in Chinese borrowing with $US 36 billion of new green bonds issued there in 2016 (Climate Bonds Initiative, 2017).…”

Section: Developmentmentioning

confidence: 99%

“…Poland ended 2016 by issuing the world's first sovereign green bond (Whiley, 2016). France followed in 2017 and sovereign issues from Fiji and Nigeria represented the increasing involvement of emerging economies (Stoian & Iorgulescu, 2019). Rapid market growth continued in 2017 with an 86% increase in new issues.…”

Section: Developmentmentioning

confidence: 99%

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Treating ecological deficit with debt: The practical and political concerns with green bonds

et al. 2020

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Recent years have witnessed calls to 'unlock' private capital and unleash a wave of green finance that can address the global environmental crisis. To this end, ample resources are being invested in the rapidly growing market for green bonds: a debt security that links finance to projects that claim environmental benefits. This has placed green bonds in the vanguard of green finance, with a promise of treating our ecological deficit with debt. Such positioning demands close scrutiny of their obstacles, opportunities, and socio-environmental impacts. This paper contributes to this task with a multidisciplinary review of green bond media articles, grey literature, and academic research. The paper has three key aims. It seeks to provide an introduction to green bonds for scholars who are not fluent in finance. Secondly, it attempts to provide a platform for further green finance research by delineating the major practical and political concerns with green bonds. Finally, it aims to widen our view of the green bond market by putting applied and critical research agendas into direct conversation. The paper concludes by calling for more explicit analysis of what green bonds can actually do; centring an expanded notion of greenwashing in green bond discourse; and pursuing more comparative, case driven research on green bond market development.

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Section: Developmentmentioning

confidence: 99%

Section: Developmentmentioning

confidence: 99%

Section: Developmentmentioning

confidence: 99%

Section: Developmentmentioning

confidence: 99%

Section: Developmentmentioning

confidence: 99%

See 3 more Smart Citations