Features of Stimulating the Issue of Green Bonds in the Modern Economy

Alex Borodin, Vladislav Zaitsev, Nataliya Shash and Kirill Chibisov
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Alex Borodin: Department of Sustainable Development Finance, Plekhanov Russian University of Economics, Moscow, Russia,
Vladislav Zaitsev: Department of Sustainable Development Finance, Plekhanov Russian University of Economics, Moscow, Russia,
Nataliya Shash: Department of Sustainable Development Finance, Plekhanov Russian University of Economics, Moscow, Russia,
Kirill Chibisov: Department of an Accounting, PJSC Aeroflot, Moscow, Russia.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 5, 281-288

Abstract: There are large number of companies that form investment portfolios of modern investors have a high level of CO2 emissions. In particular, such sectors of the economy include the oil and gas sector, metallurgy, electricity. For the transition of these sectors of the economy to a car-bon-neutral status, it is necessary to attract significant funding. One of the main instruments of such financing is green bonds. The purpose of the study is to develop a mechanism to encourage companies to implement green projects by issuing green bonds with coupon payments, which will be partially compensated. In the course of studying the problem posed, possible options for linking the Carbon Border Adjustment Mechanism (CBAM) and green bonds were also considered. The study was conducted on the basis of methods of comparison, modeling, analysis and deduction. The result of the work is the developed mechanism of tax incentives for the issuance of green bonds by companies, which can be applied in any country. The study was conducted taking into account the introduction of additional reducing coefficients to the mineral ex-traction tax, property tax and income tax. The study showed that in the case of partial compensation of coupon payments on bonds, the state does not need to introduce lowering coefficients to the tax rate, it is enough to use a tax deduction from income tax in the amount of the planned compensation of coupon payments.

Keywords: Green Ecomonic; Green Bonds; Carbon dioxide emissions; Investments (search for similar items in EconPapers)
JEL-codes: O20 Q43 Q48 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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