Nexus between green bonds, financial, and environmental indicators

• Ngo Thai Hung ^[1]
  1. [1] Vietnam National University, Ho Chi Minh City

     Vietnam National University, Ho Chi Minh City

     Vietnam

     
• Localización: Economics and Business Letters, ISSN-e 2254-4380, Vol. 10, Nº. Extra 3, 2021 (Ejemplar dedicado a: SOBC2020), págs. 191-199
• Idioma: inglés
• Enlaces
  • Texto completo (pdf)
• Resumen

  • This study uses a recent approach to examine the causal associations between green bonds and other conventional assets, including clean energy, price of CO2 emission allowances, Bitcoin, and the S&P 500 stock market covering from January 2013 to March 2019. We find a bidirectional relationship between green bonds, S&P 500, and Bitcoin markets, while green bonds have a unidirectional connection with the price of CO2 emission allowances. More importantly,clean energy has a significant impact on green bonds and vice versa throughout the sample period. The results have several useful implications for green bond investors in connection with portfolio design and hedging decisions.