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Green bond finance and certification

Torsten Ehlers and Frank Packer ()

BIS Quarterly Review, 2017

Abstract: Financing of investments through green bonds has grown rapidly in recent years. But definitions of what makes a bond “green” vary. Various certification mechanisms have evolved to allow more granularity as well as continuity in assessment. Green bonds have been priced at issuance at a premium on average relative to conventional bonds, but their performance in the secondary market over time has been similar. A relatively large share of green bonds are in sectors subject to environmentally related credit risks. More consistent green bond standards across jurisdictions could help to further develop the market.

JEL-codes: G24 O16 Q50 (search for similar items in EconPapers)
Date: 2017
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