Developing Novel Technique for Investigating Guidelines and Frameworks: A Text Mining Comparison between International and Japanese Green Bonds

Kentaka Aruga, Md. Monirul Islam, Yoshihiro Zenno and Arifa Jannat
Additional contact information
Md. Monirul Islam: Department of Agricultural Economics, Bangladesh Agricultural University, Mymensingh 2202, Bangladesh
Yoshihiro Zenno: Graduate School of Humanities and Social Sciences, Saitama University, 255 Shimo-Okubo, Sakura-ku, Saitama 338-8570, Japan
Arifa Jannat: Graduate School of Life and Environmental Sciences, University of Tsukuba, Tsukuba 305-8572, Japan

JRFM, 2022, vol. 15, issue 9, 1-17

Abstract: In most cases, the official documents related to guidelines and frameworks are complicated, long, and hard to understand for general readers, regardless of whether the government and financial companies follow international standards or not. In this context, the current study examines how the green bond (GB) guidelines created by the Japanese government are aligned with the Green Bond Principles (GBP) and Climate Bonds Standard (CBS) through a text mining technique. It also investigates whether the GB frameworks for the Japanese public and private companies follow the GB guidelines of the Japanese government. While the CBS is the guideline that focuses on climate bonds, the GBP specializes in GB whose scope is broader. The word frequency and word cloud analyses identify that the documents created by the Japanese government and companies have more similarities with the GBP, indicating that the Japanese GB guidelines and frameworks are more aligned with the GBP than the CBS. A pairwise word network matrix analysis also reveals that the Japanese GB guidelines and frameworks are more focused on broader environmental issues and sustainability than the CBS, which had more similarities with the GBP than the CBS.

Keywords: text mining; word cloud; network matrix; green bond; Japan (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1911-8074/15/9/382/pdf (application/pdf)
https://www.mdpi.com/1911-8074/15/9/382/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:15:y:2022:i:9:p:382-:d:898106

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().