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Corporate Green Bonds: Greenwashing or Credible Signal?


Oser, Kevin. Corporate Green Bonds: Greenwashing or Credible Signal? 2024, University of Zurich, Faculty of Economics.

Abstract

This study addresses the absence of standardized definitions and the concerns of greenwashing. It explores investor responses to green bond announcements and issuer’s environmental performance. Utilizing data from 2013 to 2022, this study finds that investors differentiate between bond labels. However, the results highlight possible market inefficiencies and the need for further research. Furthermore, the results show that issuers generally elicit a relative decrease in their greenhouse gas intensities. Nevertheless, this study finds no connection between the environmental performance of issuers and green bond labels.

Abstract

This study addresses the absence of standardized definitions and the concerns of greenwashing. It explores investor responses to green bond announcements and issuer’s environmental performance. Utilizing data from 2013 to 2022, this study finds that investors differentiate between bond labels. However, the results highlight possible market inefficiencies and the need for further research. Furthermore, the results show that issuers generally elicit a relative decrease in their greenhouse gas intensities. Nevertheless, this study finds no connection between the environmental performance of issuers and green bond labels.

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Additional indexing

Item Type:Master's Thesis
Referees:Nyborg Kjell G, Schneider Benjamin Elias
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:2024
Deposited On:24 Jan 2024 13:44
Last Modified:05 Mar 2024 11:47
OA Status:Closed
  • Content: Published Version
  • Language: English
  • Permission: Download for registered users
  • Embargo till: 2024-12-31