Greening the bond market : a European perspective Books uri icon

publication date

  • 2023


  • 9783031386916

series title / series number

  • EBI Studies in Banking and Capital Markets Law

International Standard Serial Number (ISSN)

  • 2730-9088


  • The issuance of bonds which have a green status has surged in recent years in response to the growing appetite of investors and needs of borrowers embarking on a road of transition to climate neutrality. The pandemic has further accelerated market development with types of social and sustainability-linked bonds multiplying. EU is leading in the green bond trend with over 40 % of all issuances denominated in euro. The EU Regulation on Green Bonds is the first comprehensive legislative text that covers the instrument, and is a cornerstone of the EU strategy for Sustainable Finance.
    This book explores the challenges and opportunities emerging from this trend from a legal, regulatory and interdisciplinary perspective.

    The subsequent chapters will cover all these different aspects. The first part (first two chapters) analyse green bonds as a new EU financial instrument, and its fit with existing capital markets law and regulation. The second focuses on their market impact, including with regard to investor protection. The third part concentrates on their relevance for prudential supervision, and a risk-based perspective. The final part focuses on their impact for central banking.

    The variety of perspectives brought together from across institutions and geographies, from younger and established scholars makes for a highly comprehensive legal investigation of the potential impact of green bonds in the European legal order, with possible implications globally given the rising interest in credible green bond issuance.


  • Law


  • green bonds; eu green bond standard; nextgenerationeu; financial market development; sustainable finance; green securities; investor protection; capital markets law; prudential regulation; prudential supervision; financial stability