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The Increasing Importance of Green Bonds as Instruments of Impact Investing: Towards a New European Standardisation

Maria Cristina Quirici ()
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Maria Cristina Quirici: University of Pisa

Chapter Chapter 8 in Contemporary Issues in Sustainable Finance, 2020, pp 177-203 from Palgrave Macmillan

Abstract: Abstract This chapter analyses the principal characteristics of Green Bonds, a particular financial instrument of Impact Investing that is showing a rapidly growing market and that can offer new possibilities for investors who consider important Environmental, Social and Governance (ESG) considerations. The author wants to point out the main critical aspects that characterise Green Bonds, regarding both the lack of clarity about what makes a bond green and the presence of too many ways of assessing the bond greenness. The work notices that an answer to these needs is now coming from the European Institutions, showing how their recent actions—the High-Level Expert Group (HLEG) Final Report and the European Commission (EC) Action Plan on Financing Sustainable Growth (2018)—are filling up the existing gaps, representing important steps towards a new European standardisation.

Date: 2020
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DOI: 10.1007/978-3-030-40248-8_8

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