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- Title
THE BOND VILLAINS OF GREEN INVESTMENT: WHY AN UNREGULATED SECURITIES MARKET NEEDS GOVERNMENT TO LAY DOWN THE LAW.
- Authors
Banahan, Cristina M.
- Abstract
Green bonds are widely regarded as being part of the solution to the massive amount of investment needed to address climate change. Green bonds function largely like regular bonds, except that they have a dual purpose o f achieving an environmental goal in addition to the financial gains. The sector remains, however, broadly unregulated, leading to questionable funding ofprojects under the premise of being "green" bonds. This Article provides an introduction into the nascent green bond industry and the current regulatory regimes in place. Furthermore, this Article argues that the regulations currently in place are insufficient to create the market stability necessary to grow green investments quickly enough to address the challenges presented by climate change. To successfully grow the green bond market to finance climate action, stakeholders must learn the lessons offered by the 2008 Financial Crisis and problematic green bond issuances to date. To implement the lessons learned by the financial crisis and problematic bond issuances, this Article covers the benefits to be gained from a regulatory body that ensures the environmental in tegrity of green investments.
- Subjects
BONDS (Finance); INVESTMENTS; FINANCIAL markets; SECURITIES; CLIMATE change; CREDIT ratings; GREAT Recession, 2008-2013; 21ST century economics
- Publication
Vermont Law Review, 2019, Vol 43, Issue 4, p841
- ISSN
0145-2908
- Publication type
Article