Partridge, C;
Medda, FR;
(2020)
Green bond pricing: The search for greenium.
Journal of Alternative Investments
, 23
(1)
pp. 49-56.
10.3905/jai.2020.1.096.
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Abstract
Green bonds are a novel way to help unlock finance for investment in sustainable development. Some issuers and investors are watching this market with keen interest to see whether a green premium-or "greenium"-arises. The current consensus in the literature is that there is a detectable greenium in the secondary markets for corporate and US municipal bonds, but evidence for a greenium at issue is more difficult to detect. The authors provide a summary of the pricing literature and a description of their green municipal bond pricing analyses and then unpack these findings and offer an explanation as to why there is a difference in greenium behavior in the primary and secondary markets.
| Type: | Article |
|---|---|
| Title: | Green bond pricing: The search for greenium |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.3905/jai.2020.1.096 |
| Publisher version: | http://dx.doi.org/10.3905/jai.2020.1.096 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10121376 |
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