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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Green Bonds: Using Macroeconomic Indicators to analyze Green Scores |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2022 |
| Abstract Text | Green bonds represent a modern financial tool which has raised global awareness on more environmentally friendly methods to finance the fight against climate change. Understanding how the proceeds are used to finance sustainable project, this thesis studies a data set of 1,795 green bonds issued by a total of 54 countries. Using linear regression, this paper examines the impact of macroeconomic indicators on the level of greenness of issued green bonds in the period from 2008 to 2021. The results reveal that a higher unemployment rate has a positive effect on green scores. Higher consumer prices, producer prices and government bond yields have a negative effect on green scores. Finally, the analysis shows no evidence of correlation between green scores and gross domestic product, consumer confidence, equity market returns and M3 money supply |
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