The green bonds: Empirical evidence and implications for sustainability

Teti, Emanuele; Baraglia, Icaro; Dallocchio, Maurizio; Mariani, Giovanna

doi:10.1016/j.jclepro.2022.132784

Cited by 38 publications

(18 citation statements)

References 15 publications

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“…Moreover, the positive and substantial value of the governance dimension score signifies that an effective governance framework augments the success of green bond issuance. It empowers investors in ensuring managerial compliance with ESG standards, thereby substantiating Hypothesis 2c (Teti et al, 2022). Conversely, the negative and significant value of the social dimension score implies that companies with elevated social responsibility exhibit reduced proclivity to engage in debt issuance.…”

Section: Resultsmentioning

confidence: 62%

“…governance dimension score signifies that an effective governance framework augments the success of green bond issuance. It empowers investors in ensuring managerial compliance with ESG standards, thereby substantiating Hypothesis 2c (Teti et al, 2022).…”

Section: Probit Model and Marginal Effectsmentioning

confidence: 69%

“…Less dispersed ownership may offer more opportunities for engaging in sustainable development practices (Villalonga, 2018). Therefore, when major shareholders hold significant stakes in a company, they can exert pressure on management to divulge more information about environmental responsibilities, thus enhancing the likelihood of successful green bond issuance (Teti et al, 2022). In conclusion, specific activities related to global sustainability strategies and the board structure of directors correlate positively with company performance and efficiency.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

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Nexus of environmental, social, and governance performance in China‐listed companies: Disclosure and green bond issuance

Wang,

Chen,

Ali

et al. 2023

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This study establishes a connection between existing literature on corporate environmental, social, and governance (ESG) matters, information disclosure, and green bonds by employing the issuance of green bonds to indicate investors' acknowledgment of a company's sustainable activities. Prior research has not adequately addressed the relationship between ESG performance, disclosure, and green bond issuance. A novel dataset has been compiled by merging ESG performance and information disclosure data of Chinese‐listed companies spanning from 2016 to 2020, alongside green bond issuance information from the Wind and Hexun databases. Concurrently, China's pursuit of carbon neutrality necessitates the establishment of a green, low‐carbon, and circular economy framework. ESG has surfaced as an indispensable instrument for appraising a company's sustainability and advocating the enhancement of its information disclosure systems, thereby aiding investors in forming well‐informed judgments. This study scrutinizes the correlation between each facet of ESG performance, disclosure, and green bond issuance, from the perspective of companies listed in emerging markets. The findings corroborate that companies exhibiting commendable ESG practices are more predisposed to issuing green bonds, particularly when such practices are suitably disclosed. The identified evidence will spur the enforcement of obligatory ESG disclosure regulations, further propelling China's advancement in ecological civilization and green finance.

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Section: Resultsmentioning

confidence: 62%

Section: Probit Model and Marginal Effectsmentioning

confidence: 69%

Section: Literature Review and Hypothesesmentioning

confidence: 99%

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Nexus of environmental, social, and governance performance in China‐listed companies: Disclosure and green bond issuance

Wang,

Chen,

Ali

et al. 2023

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“…Those who play in the market and other concerned companies must define the "green label". Several financial institutions developed the principles concerning the bonds, which are updated annually to enhance efficacy [81]. The principles entail voluntary guidelines to regulate the binding standards by market participants to steer market growth [82].…”

Section: Literature Reviewmentioning

confidence: 99%

A Bibliometric Analysis of Green Bonds and Sustainable Green Energy: Evidence from the Last Fifteen Years (2007–2022)

et al. 2023

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Organizations are shifting their focus towards utilizing green energy in the business process to enhance environmental sustainability. Similar to other business roles, the managerial team in the financial sector has also engaged in environment-friendly operations. A green bond is a new financial approach integrating the protection of the ecosystem into economic profits. This paper analyzes green bonds’ intellectual structure, publication, and networking. The bibliometric statistics utilized in the green bonds emerged from the Scopus database. The research examines published works from the most resourceful nations, institutions of higher learning, scholars, and high-profile publications on green bonds. Additionally, the study maps bibliographic coupling and co-citation to visualize the knowledge network.

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“…In the mindfulness of “Greenium” (“the yield difference between a conventional bond and GB”), some facets of the literature showed “Greenium” existence in the GB market (Agliardi & Agliardi, 2021; Dorfleitner et al, 2022; Huynh et al, 2022; Lau et al, 2022; MacAskill et al, 2021; Teti et al, 2022). With the severe drawback of the recent pandemic, few studies examined the GB market connectedness with other market forms and depicted it as a suitable investment tool for all investors during abnormal market conditions (Danışoğlu & Güner, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Green Bond as an Innovative Financial Instrument in the Indian Financial Market: Insights From Systematic Literature Review Approach

et al. 2023

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As India has set its ambitious target of reaching renewable energy by 2050, it has shown overwhelming interest in Environmental, Social, and Governance (ESG) focused financial products. However, studies on the Indian green bond market are sparse, besides its divergent role in terms of green bond issuance from an emerging market’s perspective. This study aims to fill this gap by employing a systematic review of the literature, emphasizing green bond market growth, the limiting factors, and its future development. This review examined papers published between 2010 and 2022. The review demonstrates that the lack of proper framework, high transaction costs, non-labeling of bonds, higher greenwashing, issuers’ poor creditworthiness, less government involvement, unattractive sovereign rate, unavailability of financial benefits, and lack of awareness have suppressed the rapid expansion of this market. The study based on its findings suggests effective policy measures with the expectation of the active involvement of multiple stakeholders.

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The green bonds: Empirical evidence and implications for sustainability

Cited by 38 publications

References 15 publications

Nexus of environmental, social, and governance performance in China‐listed companies: Disclosure and green bond issuance

Nexus of environmental, social, and governance performance in China‐listed companies: Disclosure and green bond issuance

A Bibliometric Analysis of Green Bonds and Sustainable Green Energy: Evidence from the Last Fifteen Years (2007–2022)

Green Bond as an Innovative Financial Instrument in the Indian Financial Market: Insights From Systematic Literature Review Approach

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