World experience of the green bond market introduction and the opportunities of its implementation in Ukraine


  • A. Yu. Frolov PhD in public administration, Deputy Head of the Department – Chief of the Normative and Methodological Support Office, the Department of the Energy Efficiency and Energy Saving Reforming,the State Agency on Energy Efficiency and Energy Saving of Ukraine http://orcid.org/0000-0003-3972-0702
Keywords: green bonds, green bond market, green bond principles, green bond market introduction, national model of the green bond market, green financing

Abstract

The purpose of the article is to study the experience of organizing the green bond market in different countries of the world, as well as to substantiate the possibilities of introducing relevant experience in Ukraine.

The scientific novelty is the scientific proposals based on the results of the research on the creation of legal preconditions for the organization of the market of green bonds and promoting the development of the relevant market in Ukraine.

Conclusion. As a result of studying the world experience and practices of organizing the green bond market in different countries of the world, including countries with close to Ukraine credit rating, it can be stated that it is relevant for Ukraine: 1) Creating legal prerequisites for the introduction of the green bond market (separation of green bonds into a separate class of securities, creation of favorable conditions for their issuance by all entities that carry out such issue in international practice; implementation of international green bond principles in national law, development of national standards and guidelines, including the introduction of a free market for the private sector and legal regulation for the public sector, the introduction of incentives for the development of the green bond market used in international practice, 2) promoting the development of the green bond market (attracting international development banks to invest in green bonds of Ukraine and to improve their credit quality, investment attractiveness; establishing cooperation with international financial organizations, foreign investment companies and donor funds to attract green financing to Ukraine).

These proposals can be taken into account when developing a national model of the green bond market in Ukraine, which will form the basis for the state policy of green bond market introduction.

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Published
2019-10-10
How to Cite
Frolov, A. (2019). World experience of the green bond market introduction and the opportunities of its implementation in Ukraine. Scientific Papers of the Legislation Institute of the Verkhovna Rada of Ukraine, (5), 84-92. https://doi.org/10.32886/instzak.2019.05.09