The impact of corporate green bonds in firms, investors and the environment

Marta Moreira

Master's thesis

NA

Abstract:

The generalised concern with the environment has been on the rise, and the role of green finance is fundamental in the process of building a more sustainable future. This thesis looks into the implications of corporate green bonds for firms, investors and the environment. For this, statistical analysis and qualitative methods are used, supported by a literature review. The focus is on the comparison between the key bond metrics of green and non-green bonds, allowing the measurement of the value of “greenness”. The results show that the concrete impact of green bonds to each stakeholder cannot be clearly identified yet, mostly due to their novelty and complexity. Nonetheless, great potential is foreseen, as the growing number of green bonds indicate both the interest from companies and investors in such tools, as well as the importance given to sustainability in finance.

Keywords

NA

Keywords

Green Bonds, Green Finance, greenium, ESG

Language used: English

Date on which the thesis was submitted / produced: 11. 1. 2021

Thesis defence

• Date of defence: 21. 6. 2021
• Supervisor: Heřman Kopkáně
• Reader: Martin Iltis

Vysoká škola ekonomická v Praze

Master programme:
International Management