Green Bonds as Instruments of Environmental Finance: A Strategic Approach to Sustainable Investment in Global Capital Markets
環境金融の手段としてのグリーンボンド：グローバル資本市場における持続可能な投資への戦略的アプローチ (AI 翻訳)
Parmod Kumar, Padam Bhushan, Ercan Özen
🤖 gxceed AI 要約
日本語
本稿は、グリーンボンドの進化と現在の市場構造を分析し、その環境金融における役割を検討する。グリーンボンド原則やEUタクソノミーなどの規制枠組みを評価し、基準の断片化やグリーンウォッシングなどの課題を指摘する。また、タクソノミーの調和、ブロックチェーンによる透明性向上、支援的政策を提言する。
English
This chapter examines the evolution of green bonds from multilateral issuances to widespread adoption, analyzing their use-of-proceeds model and regulatory frameworks. It identifies challenges such as fragmented standards, high certification costs, and impact underreporting, and proposes taxonomy harmonization, blockchain transparency, and supportive policies to scale the market.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではグリーンボンドの発行が増加しており、SSBJや移行金融の議論と連動する。本稿の規制枠組み分析やグリーンウォッシング防止策は、日本の市場整備に参考となる。
In the global GX context
Green bonds are central to transition finance globally. This paper synthesizes key regulatory challenges and solutions, offering a valuable resource for understanding market dynamics amid evolving standards like ISSB and CSRD.
👥 読者別の含意
🔬研究者:A comprehensive overview of green bond market evolution, regulatory frameworks, and challenges, providing a foundation for further empirical studies.
🏢実務担当者:Practical insights into green bond standards, certification, and investor benefits to inform issuance strategy and disclosure.
🏛政策担当者:Policy recommendations for taxonomy harmonization and supportive frameworks to enhance green bond market integrity and scale.
📄 Abstract（原文）
Abstract Purpose Green bonds have transformed sustainable finance by channeling capital directly into environmental initiatives—renewable energy, biodiversity conservation, energy efficiency, and climate adaptation—to support the Paris Agreement and SDG targets. This chapter examines their evolution from multilateral development bank issuances in the late 2000s to widespread adoption by sovereigns, sub-nationals, corporates, and financial institutions. Design/Methodology A historical and structural analysis traces green bonds’ origins, deconstructs their use-of-proceeds model, and categorizes green debt (revenue bonds, securitized issues, sovereign issuances) alongside newer instruments (sustainability-linked and transition bonds). Regulatory frameworks (Green Bond Principles, Climate Bonds Standard, and EU Taxonomy) are evaluated for transparency and greenwashing prevention. A global overview highlights regional dynamics (Europe, China, and emerging markets) and identifies challenges—fragmented standards, certification costs, impact underreporting, and limited liquidity. Findings Green bonds’ integrity, reinforced by robust standards, enhances issuer reputation, broadens investor pools, and may secure preferential financing. Investors gain climate-aligned returns and reduced environmental and transition risks. However, inconsistent frameworks, high certification costs, underreporting, and liquidity constraints hamper market efficiency. Originality/Value By integrating multidisciplinary perspectives—financial innovation, policy, and environmental stewardship—this chapter offers novel insights into green bond credibility, stakeholder advantages, and scalability barriers. It proposes taxonomy harmonization, blockchain for transparency, and supportive policy to scale green bond markets and finance a low-carbon, sustainable economy.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.1108/978-1-83708-822-520261009first seen 2026-05-14 21:29:01
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