Sovereign Green Bond Market – A Comparative Analysis

Abstract

Green bonds have become basic instruments considered sources of green projects financing. The green bond market is relatively new as it was inaugurated in 2007, however, its rapid development has recently been observed. The aim of this paper is the analysis of sovereign green bonds, as well as the comparison and assessment of profitability, price changes and the structure of investors of these instruments. The analysis includes all green bonds issued by governments until the end of June 2018. The study adopted a hypothesis that there are significant differences in the parameters and yield of sovereign green bonds.