Zielone obligacje skarbowe jako sposob finansowania zadan publicznych
Sovereign green bonds as a way of financing the public tasks
Anna Laskowska ()
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Anna Laskowska: Nicolaus Copernicus University in Torun, Poland
Catallaxy, 2019, vol. 4, issue 2, 103-111
Motivation: In the domestic and foreign literature on the subject there is a lack of extensive and compact studies devoted to sovereign green bonds. Therefore, it is justified to create a publication in which this problem would be taken in a holistic way. This article is an attempt to fill the presented cognitive deficiencies. Aim: The aim of the article is a comprehensive characterization of the global sovereign green bond market with particular emphasis on Polish issues. Materials and methods: The following analyzes were used: literature on the subject, industry reports, descriptive, comparative, inductive and case studies. Results: Sovereign green bonds became a segment of both the Polish and foreign capital markets as a result of issues carried out since 2016, and Poland became a pioneer of green treasury bonds. The research process allowed for a comprehensive analysis of the global sovereign green bonds market (twelve issues). Despite the fact that sovereign green bonds market is in the initial phase of existence, some development tendencies may be noticed. Factors determining the expansion of this segment include: capital mobilization, diversification of the investor base and improvement of the state’s image. It can therefore be presumed that the value of this market will systematically increase.
Keywords: sustainable development of public finances; green bond; sovereign green bond (search for similar items in EconPapers)
JEL-codes: E69 F64 H63 Q56 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pes:iercxy:v:4:y:2019:i:2:p:103-111
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