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Mobilising Bond Markets for a Low-Carbon Transition

image of Mobilising Bond Markets for a Low-Carbon Transition

This report describes the development of the green bond market as an innovative instrument for green finance, and provides a review of policy actions and options to promote further market development and growth. Since 2007-08, so-called “green bonds” have emerged and the market has risen from USD 3 billion in 2011 to USD 95 billion in issuance in 2016. For policy makers, the report proposes a framework for understanding potential directions of bond market evolution, increased convergence of rules and definitions, and quantitative analysis of the potential contribution that bond markets can make to a low-carbon transition.

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Barriers, policy actions and options for green bond market development and growth

This chapter provides an assessment of barriers to green bond market development and growth, as well as barriers related to: 1) fundamental preconditions for a deep, liquid domestic bond market; and 2) the enabling environment for the development of green infrastructure projects that may be financed or refinanced through the bond markets. The chapter also provides a stock-taking of existing country experiences and actions to overcome barriers to green bond market development. It concludes with a set of policy considerations for fostering sustainable debt capital market access for green infrastructure that emerged from OECD’s contributions to the G20 Green Finance Study Group.

English

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