Sovereign issuers in the face of the sustainable revolution - IEF Institut d'Estudis Financers
22 julio 2020

Sovereign issuers in the face of the sustainable revolution

  • Autor: Andrés Alonso
  • Tema: Mercados de Capitales
  • Tipo de trabajo: Documento de Trabajo
Amb la col·laboració de Caixa d'Enginyers

In the ecological transition of the world economy sovereign issuers have a fundamental role to play in mobilizing resources to finance the Sustainable Development Goals, as well as mitigating the effects of the current crisis caused by the COVID-19 pandemic through national reconstruction plans that are presented as an opportunity to reassure the commitment to a sustainable economy. Green bonds were the pioneering instrument aimed at channeling these resources. However, after a few years of experience, we begin to observe proposals for financial innovation that suggest the possibility of resorting to more efficient structures to achieve the scalability and consolidation of these financing instruments, such as green certificates and twin bonds.
Keywords: sovereign green bonds; greenium; sustainability; green finance.

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