Empirical Evidences on Green Bond: A Literature Survey

Abstract

This report initially focuses on the general view of Green Bond. Green Bond was first issued in 2007 by the European Investment Bank under the label Climate Awareness Bond, as a structured bond with proceeds dedicated to renewable energy and energy efficiency projects. The study introduces the study by discussing the concepts of Green Bond and its features. Most importantly this study contains the significance along with the objectives. The Green Bond is a fixed income tool which are used to finance environmental projects and project for climate change improvements. In 2017 green bond issuance increased at a record level around the world but in 2018 growths are decreased at a little. After that in 2019 climate aware market recovered the gap and it make a record around the world. Green Bond Creates Goodwill of the company, provide revenue and tax benefits, helped investors and also for environment. But the green bond have not high liquidity and not really sustainable in market. The study contains the methods that used to collect information about green bond available in online. The complete filtering processes of the articles are discussed step by step in this study. There are 16 articles which are excluded for some reasons. After exclusion 45 appropriate articles are discussed in this study. The exclusion reasons are also given in the study. The study contains literature review of the study where the found articles are being analyzed according to the objectives of the study. The study contains a broad discussion of the articles one by one, and shows the information about article, author, published year and the findings of those articles. Those information of the articles are summarized in a structured table on the study. The study shows that green bond as a financial tool is quite conservative innovation. The green bond market has become a new infrastructure in the capital market.