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Palgrave Macmillan

Greening the Bond Market

A European Perspective

  • Book
  • © 2023

Overview

Editors:
  1. David Ramos Muñoz

    1. Derecho Privado, Carlos III University of Madrid, Getafe, Spain

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  2. Agnieszka Smoleńska

    1. Institute of Law Studies, Polish Academy of Sciences, Warsaw, Poland

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    You can also search for this editor in PubMed   Google Scholar

  • Provides the first comprehensive and international work on green bonds
  • Offers an analysis from the perspective of markets/offerings, intermediary/client and monetary policy
  • Features an interdisciplinary contributor list: lawyers, economists, academics, practitioners, and regulators

Part of the book series: EBI Studies in Banking and Capital Markets Law (ESBCML)

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xvi
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  2. Introduction

    • David Ramos Muñoz, Agnieszka Smoleńska
    Pages 1-17

  3. A General Perspective

    1. Front Matter

      Pages 19-19
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    2. Toward a European Green Bond Standard: A European Initiative to Promote Sustainable Finance

      • Nikos Maragopoulos
      Pages 21-50

    3. Member States Sovereign Green Bond Issuance and the Development of Local Green Bond Markets in the EU

      • Wojciech Lewandowski, Agnieszka Smoleńska
      Pages 51-77

    4. Issuing a Green Bond: A Practical Perspective

      • Caroline Harrison, Liam Jones, Zofia Wetmańska
      Pages 79-86

    5. Issuing Green Bonds Without a Green Bonds Regulation: Canadian Experiences

      • Bruno Caron, Bernard Blouin
      Pages 87-124

  5. Micro- and Macro-Prudential Perspective on Green Bonds

    1. Front Matter

      Pages 213-213
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    2. Method Transparency for Green Bonds: Learnings from Climate Transition Risk Metrics

      • Julia Anna Bingler, Chiara Colesanti-Senni, Pierre Monnin
      Pages 215-221

    3. The Role of Prudential Requirements in Fostering Green Bond Markets: The Experience of Hungary

      • Gabor Gyura
      Pages 223-247

    4. Discussion: Micro- and Macro-prudential Issues Regarding Green Bonds from a Practitioner’s Perspective

      • Claudia Pasquini
      Pages 249-252

    5. Green Bonds and the ECB: A Tale of (Measured) Promise and (Required) Caution

      • Basil Scouteris, Elli Anastopoulou
      Pages 253-293

    6. Discussion: Green Bonds and Monetary Policy

      • Sarah Jane Hlásková Murphy
      Pages 295-303

  6. Back Matter

    Pages 305-313
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Keywords

About this book

Green bond issuance has surged in recent years in response to growing investor appetite and borrowers' needs as they embark on the sustainability transition. The EU leads the way, with over 40% of all sustainable bond issuances denominated in euro. The EU’s 'Regulation on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and sustainability-linked bonds’ is the first comprehensive legislative text covering such issuance, and a cornerstone of EU’s Sustainable Finance strategy. This book explores in an interdisciplinary way the challenges and opportunities of green bonds and sustainable finance from a legal, regulatory and economic perspectives. First, it analyses green bonds as a new financial instrument in the context of the existing capital markets law. Second, it studies green bond impact on the market and on investor protection. Third, it assesses green bonds’ relevance for prudential supervision and central banking. The variety of viewpoints ensures a highly comprehensive analysis of green bonds’ impact in a European and global context.


Reviews

“This book explores green bonds from multiple angles and also looks at some less well-known markets. Good reading for anyone with practical or academic interest in this popular product.” – Eila Kreivi, European Investment Bank’s Chief Sustainable Finance Advisor

Editors and Affiliations

  • Derecho Privado, Carlos III University of Madrid, Getafe, Spain

    David Ramos Muñoz

  • Institute of Law Studies, Polish Academy of Sciences, Warsaw, Poland

    Agnieszka Smoleńska

About the editors

David Ramos Muñoz is Associate Professor of Commercial Law at the Universidad Carlos III de Madrid, Spain, where he leads several research projects on finance and climate change, and is part of its Climate Strategic Initiative. He is a Fellow Member ad personam of the Academic Board of the European Banking Institute (EBI), where he leads its Working Group on Finance, Climate Change and Sustainability, and a member of the European Law Institute (ELI).

Agnieszka Smoleńska is Assistant Professor at the Institute of Law Studies of the Polish Academy of Sciences and Principal Investigator of “The EU’s sustainability capitalism: identifying the varieties of financial markets transition” research project. She is Associate Researcher with the European Banking Institute, contributing to EBI’s Working Group on Finance, Climate Change and Sustainability.

Bibliographic Information

  • Book Title: Greening the Bond Market

  • Book Subtitle: A European Perspective

  • Editors: David Ramos Muñoz, Agnieszka Smoleńska

  • Series Title: EBI Studies in Banking and Capital Markets Law

  • DOI: https://doi.org/10.1007/978-3-031-38692-3

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023

  • Hardcover ISBN: 978-3-031-38691-6Published: 20 October 2023

  • Softcover ISBN: 978-3-031-38694-7Due: 20 November 2023

  • eBook ISBN: 978-3-031-38692-3Published: 19 October 2023

  • Series ISSN: 2730-9088

  • Series E-ISSN: 2730-9096

  • Edition Number: 1

  • Number of Pages: XVI, 313

  • Number of Illustrations: 2 b/w illustrations, 10 illustrations in colour

  • Topics: Capital Markets, Sustainable Development, Development Economics

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