ESCP Europe

Item type

Academic Journal

Language

English

Journal

In Finance Research Letters May 2022 46 Part B

Publication year

2022

Item number

10.1016/j.frl.2022.102807

Subjects

• Green finance
• Green bonds
• Credit and equity markets
• Carbon emissions
• Innovation

Highlights •We examine the role of green bonds in the global economy's decarbonization.•Green bonds significantly reduce CO2 emissions both in the short and long run.•A more pronounced role is found in countries with higher exposure to climate risk.•Developed credit markets and higher innovation culture are also important drivers.•Green bonds issued for energy efficiency have the most significant effect.