Publication Type

Journal Article

Version

submittedVersion

Publication Date

4-2020

Abstract

Mobilizing private finance for renewable energy and energy efficiency is critical for Association of South-East Asian Nations (ASEAN) not only for the reduction of global temperature rise but also for meeting fast-growing energy demand. Two-thirds of green bonds issued in ASEAN were used to finance renewable energy and energy efficiency projects. This paper provides a review of green bond issuance and green bond policies in ASEAN. Issuance of green bonds in top three green bond issuing countries in ASEAN, i.e. Indonesia, Malaysia and Singapore, are reviewed in detail. Green bond policies in ASEAN are effective in promoting green bond issuance. However, this does not mean that green bond policies are effective in promoting renewable energy and energy efficiency projects in ASEAN. Proceedings of green bonds issued in ASEAN can be used for financing projects abroad or re-financing past loans, thus do not necessarily promote green investments in ASEAN.

Keywords

ASEAN, green bond grant, green bond standards, Green bonds, green sukuk, sustainable and responsible investment, sustainable finance

Discipline

Asian Studies | Environmental Sciences | Finance and Financial Management | Portfolio and Security Analysis

Publication

Journal of Sustainable Finance and Investment

Volume

10

Issue

2

First Page

113

Last Page

140

ISSN

2043-0809

Identifier

10.1080/20430795.2019.1704160

Publisher

Taylor and Francis

Embargo Period

4-7-2021

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.1080/20430795.2019.1704160

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