GLOBAL TRENDS IN THE DEVELOPMENT OF GREEN BOND FINANCING

Анотація

The author explores the features of the transformation of global green bond financing. The article proves the preservation of deep global interregional and interstate asymmetries in terms of green bond issuance, in particular, a significant predominance of the share of green bonds in EU countries. The article explains this feature of the interregional structure. The tendency of growth in the number of giant issues of green bonds in terms of value is highlighted. At the same time, attention is focused on the relatively insignificant cost of many projects, which significantly reduces their economic efficiency and this aspect is considered by the author to be one of the significant problems in the development of green bond financing. The author explores the features of the transformation of global green bond financing. The article proves the preservation of deep global interregional and interstate asymmetries in terms of green bond issuance, in particular, a significant predominance of the share of green bonds in EU countries. The article explains this feature of the interregional structure. The tendency of growth in the number of giant issues of green bonds in terms of value is highlighted. At the same time, the trend of intensification of the processes of global unification and standardization of the processes of issuance and market circulation of green bonds is described separately. Significant differentiations in the issuance of green bond instruments have been proved, even in the group of leading countries, and the dominant role of GIS in these processes is significant. A positive assessment of the quantitative structure of the issue of climate and green bonds was given. A specific place in the structure of issuers of green bonds secured by asset securities has been clarified. The dominance of the trend in the ratio of loan and equity in the structure of investment in renewable energy as one of the global trends in green bond financing is emphasized. The trend of increasing the number of issuers with different sectoral and geographical "registration" is defined by the author as a separate global trend. Emphasis is placed on a much longer period of market turnover as a distinctive feature of green bonds compared to classic bond instruments.

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