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Global Public‐Private Investment Partnerships: A Financing Innovation with Positive Social Impact
Journal of Applied Corporate Finance Pub Date : 2020-06-10 , DOI: 10.1111/jacf.12403 Patrick Bolton 1 , Xavier Musca 2 , Frédéric Samama 3
Journal of Applied Corporate Finance Pub Date : 2020-06-10 , DOI: 10.1111/jacf.12403 Patrick Bolton 1 , Xavier Musca 2 , Frédéric Samama 3
Affiliation
Global bond markets, along with banks and governments, are the main source of funding for investment in environmentally friendly infrastructure and the transition to clean energy. Although such bonds are a relatively recent innovation, the green bond market has grown rapidly from its start in 2008 to around $800 billion in outstanding issues. The problem, however, is that green bonds, which represent less than 1% of global bond markets, have been issued disproportionately by government‐sponsored entities, corporations, and municipalities in developed markets. In the emerging market countries where the infrastructure investments are most needed, they barely exist.
中文翻译:
全球公共-私人投资伙伴关系:具有积极社会影响的融资创新
全球债券市场以及银行和政府是投资于环保基础设施和向清洁能源过渡的主要资金来源。尽管此类债券是相对较新的创新,但绿色债券市场自2008年成立以来已迅速增长,未发行债券约为8000亿美元。但是,问题在于,占全球债券市场不足1%的绿色债券是由政府资助的实体,公司和发达市场中的市政当局发行的债券,其比例不成比例。在最需要基础设施投资的新兴市场国家中,它们几乎不存在。
更新日期:2020-06-10
中文翻译:
全球公共-私人投资伙伴关系:具有积极社会影响的融资创新
全球债券市场以及银行和政府是投资于环保基础设施和向清洁能源过渡的主要资金来源。尽管此类债券是相对较新的创新,但绿色债券市场自2008年成立以来已迅速增长,未发行债券约为8000亿美元。但是,问题在于,占全球债券市场不足1%的绿色债券是由政府资助的实体,公司和发达市场中的市政当局发行的债券,其比例不成比例。在最需要基础设施投资的新兴市场国家中,它们几乎不存在。