Green Bond Research Note

How can green bond issuances gain wider acceptance as a free market vehicle to support environmentally sustainable activities?
Geoffrey Heal, Bruce Usher  | Fall 2021
Print this page
Green bonds are bond issues, used to finance new or existing projects, whose proceeds are exclusively applied to financing projects or businesses that will promote progress on environmentally sustainable activities. The green bond market has increased exponentially in the last decade, from approximately $7 billion in 2010 to over $250 billion in 2019, with growth fueled by the increasing environmental awareness of corporate stakeholders (e.g., investors, customers). This note includes a working definition of the green bond market, its financial scope, and examples of successful implementation. The note also addresses the challenges to further growth and acceptance—including a lack of consistent global standards on green project definitions as well as reporting and disclosure around the environmental impact of green bonds.

Case ID: 220304

Buy select cases through Ivey Publishing and Harvard Business Publishing.

Contact us by e-mail at Columbia CaseWorks or 646-745-8495.