TY  - THES
U1  - Bachelor Thesis
A1  - Stein, Sina
T1  - SRI - Current State and Developments of the European Green Bond Market
N2  - This paper aims to evaluate the European Green Bond market's current state by analyzing the issuer countries, types, and sectors. Moreover, the impact of regulatory developments in the last two years on the market is analyzed. As a basis for discussion, both literature review and qualitative research in the form of a semi-structured interview were conducted. The interviews were held with four market experts to gain insight into the actual market's reaction to the EU Green Bond Standard and the upcoming EU Taxonomy. In  detail,  the following  questions  are  answered: What  is  the  current  state  of the  European Green Bond Market? How many bonds are currently issued in Europe and in which countries? Which entities are the most active issuers, and to which sectors do they belong? What are the current developments with regards to regulations? How might upcoming regulations affect the market actors? The European green bond market made up 45% of the global market in 2019, dominated by Germany, France, the Netherlands, Sweden, Spain, and Italy. The market is still in its growth phase, with the amount issued nearly doubling each year. With the introduction of an EU Green Bond Standard, detailed standardization and framework is established. It will help issuers to overcome market barriers such as the risk of greenwashing and helps in identifying eligible projects. However, with the alignment of the EU GBS, an entity has to align with the extensive EU Taxonomy as well, which represents entry barriers to else willing corporations. Whether an activity counts as green or not based on thresholds is defined by the classification of economic activities. The thresholds are heavily discussed in the market as either too high and excluding whole sectors from the market or too low and not ambitious enough. The alignment with the EU GBS and thus with the EU Taxonomy is connected to various efforts. Nonetheless, it offers a great chance for the market by emphasizing the need for climate action. Through this, a strong green market can emerge and hopefully impacts the world positively.
KW  - Sustainable finance
KW  - Green bonds
KW  - SRI
Y2  - 2021
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:fn1-opus4-72948
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:fn1-opus4-72948
SP  - 91
S1  - 91
ER  -