Green Bond Experience in the Nordic Countries
Darius Nassiry | March 2018
Abstract
The global green bond market has grown rapidly in recent years, increasing from $3 billion in 2012 to over $100 billion in 2017.1 Given the broad acceptance and strong demand from investors, green bonds have emerged as an important financing solution, raising finance for climate change mitigation and adaptation investments, particularly in developing countries, where the need for such investments is significant. The Nordic region has pioneered the issuance of green bonds. The World Bank and Skandinaviska Enskilda Banken (SEB) developed the green bond concept in 2008 in response to investors’ demand for climate-related investments.2 Since then, Nordic issuers have played a leading role in green bond issuance, particularly for local green finance. This paper summarizes the Nordic experience with green bonds with a focus on local financing structures and highlights key points that may be of value for developing countries, particularly those in Asia and the Pacific, in exploring green bonds as a means to raise finance for climate change mitigation and adaptation investments.
Citation
Darius Nassiry. 2018. Green Bond Experience in the Nordic Countries. © Asian Development Bank Institute. http://hdl.handle.net/11540/8095.Keywords
Climate
Climate change
Climate impacts assessment
Global climate change
Asian Development Bank
Development
Regional Economic Integration
Financial Sector Policies
Financial Risk Management
Bond Financing
Climatic change
Climatic influence
Climatology
Investment bank
Investment policy
Capital Market
Regional Plans
Regional Development Bank
Development finance
Municipal Bonds
City planning
Urban climatology
Bank investment
Capital investment
Investment banking
Venture capital
Local government bonds
Bonds
Catastrophe bonds
Bond funds
Bond market
Multilateral development banks
Show allCollapse