Green Bonds and Climate Finance

Christa Clapp and Kamleshan Pillay

Chapter 5 in Climate Finance:Theory and Practice, 2017, pp 79-105 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Green bonds apply environmental labelling to traditional bonds for financing green and climate projects. The green bond market has grown rapidly in recent years, and shows promise for furthering climate action. Multilateral development banks have been most active in issuing green bonds to support their environment and development agendas, but corporations and municipalities are also beginning to issue green bonds. To what extent can green bonds provide finance for climate action in developing countries? Emerging economies are becoming more active in the green bond market. The case of Johannesburg, the first city in an emerging country to issue a green bond, is examined for potential replication. Challenges and opportunities relating to green bond demonstration and governance, de-risking, and green integrity are also explored.

Keywords: Climate Finance; Adaptation; Mitigation; Green Climate Fund; International Environmental Agreements; International Transfers; Economics (search for similar items in EconPapers)
Date: 2017
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