The purpose of this study is to analyse the extant literature on sustainable financial products (SFP) with a comprehensive understanding of the status quo and research trends as well as characterise the existing SFP in the Latin America banking industry. In this way, research papers derived from Scopus as well as institutional reports such as main documents, sustainability reports, and product portfolios publicly available on webpages from public, private, and development banks are used to create a database of SFP where their main characteristics are included and classified. Based on the research trends identified, the results show the development of financial products focused on environmental, social, and government (ESG) matters, mainly from the credit side, of more sustainable financial markets and products under fintech ecosystems. The results show that because of regulatory and government support through mechanisms such as green protocols and social and environmental responsibility policies, private financial institutions of Brazil, Colombia, and Argentina have led the development of both social and green financial products. These study’s findings may be used for several policymakers to broaden the opportunities available in sustainable financing and thus, provide a roadmap that researchers and practicing professionals can use to improve their understanding of SFP. Finally, the study presents the potential for further research in the field, both with a qualitative and a quantitative approach.
The green bonds market has had a growth in recent years within its different sectors and regions. Specifically, up to 2020, the Latin America and the Caribbean (LAC) region has issued USD 26 billion. Some authors have studied the factors influencing financing through green bonds. However, a research gap is identified in the analysis of the regions that contribute to the issuance of this type of bond, specifically for LAC. This is the first study to examine the variables such as issue amount, number and type of issuers, currency, and maturity data in the region using a dataset of issuing performed between 2014–2020. We find the typical sizes of the issues, the search for a premium in the issue, the perception of complexity, the issuance of guides, and tax incentives as the main factors affecting this market. Finally, the study presents the potential for further research.
The purpose of this study is to analyze the extant literature on Project Finance (PF) with a comprehensive understanding of the status quo and research trends in the mining industry. Thus, this study utilizes a scientometric review of global trends and structure of PF and mining research from 1977 to 2020 using techniques such as co-author, co-word, co-citation, and cluster analyses. A total of 80 bibliographic records from the Scopus database were analyzed to generate the study’s research through scientometric networks. The findings indicate a steady growth of the research field, which includes Environmental, Social, and Governance criteria. The most significant contributions have originated mainly from the United States, Australia, the United Kingdom, and South Africa. The main research trends identified several issues related to risk, management, and financing concerns. This study provides researchers and practitioners with a comprehensive understanding of the status quo and research trends of ontology research within PF in the mining context and promotes further studies in this domain.
This paper comprehensively analyzes the overall status of the green bond market in Latin America and the Caribbean (LAC) for the renewable energy sector. Our results show that, in most cases, issuers are non-financial corporations. Also, despite LAC’s low perception of transparency, 78% of the volume issued has been externally reviewed. In general terms, the barriers imposed on issuance by local governments, mainly municipal debt ceiling, low credit rating and solvency, limited capabilities to prepare bankable projects, and lack of communication channels between the financial sector and local governments, constrain the green bond market in LAC. Furthermore, although the presence of development institutions that promote the issuance of green bonds in the renewable sector has improved in recent years, it is mandatory to continue making progress in this area. For that purpose, closer cooperation and alliances are essential to share responsibilities and knowledge in LAC.
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