Green bonds in the transport sector

Conference item


Bace, E. and Singh, S. 2023. Green bonds in the transport sector. 43rd EBES Conference. Madrid, Spain 12 - 14 Apr 2023 Eurasia Business and Economics Society (EBES). pp. 63-63
TitleGreen bonds in the transport sector
AuthorsBace, E. and Singh, S.
Abstract

This paper aims to highlight the benefits of transportation companies to issue unsecured and covered green, social and sustainable bonds, which are well suited to promote environmental and social investment in the sector. These benefits have already been illustrated for many participants. Green bonds represent an effective and accessible way for the environmental and social agenda to be advanced throughout the transport industry, and to raise the sector’s standing globally in addressing climate change and social issues, through strengthening of environmental, social and governance (ESG) structures. Data and methods: The study examines the evolution of covered and uncovered green bonds and their application in the transport industry. Different characteristics of green bonds are explored, including issuance process, use of proceeds, eligible assets for covered bonds, disclosure standards, project evaluation and selection, and reporting. The approach contrasts European and North American experience with what more emerging economies can expect going forward, in an effort to deliver some recommend dations in view of future prospects. Results: Green, social and sustainable (GSS) bonds only account for 3% of total GSS bonds, issued globally in the debt markets, suggesting substantial growth potential (Caron and Munoz, 2021). There is mounting interest in green bonds globally, where they are proven to be efficacious in helping to meet financing and environmental targets. While social or green classifications are not always directly credit relevant, if they support demand leading to narrower spreads, this can be positive for credit ratings, other things being equal (Pagani et al., 2021; Zerbib, 2019). The social and environmental challenges of the carbon intensive transport industry require substantial funding in a resource-driven context. The increasing use of green bonds, already under way in many sub-sectors, is found to be an effective solution to help meet these challenges, while driving the agenda of responsibility forward (Tang and Zhang, 2018).
Conclusions:This focused overview of green bonds reveals them to be effective instruments for promoting environmental and social responsibility, for transport entities, both public sector and corporations (Valavina et al., 2021). They ought to form an integral and increasing component of funding plans going forward.

Sustainable Development Goals3 Good health and well-being
4 Quality education
5 Gender equality
6 Clean water and sanitation
7 Affordable and clean energy
8 Decent work and economic growth
9 Industry, innovation and infrastructure
10 Reduced inequalities
11 Sustainable cities and communities
12 Responsible consumption and production
13 Climate action
14 Life below water
15 Life on land
16 Peace, justice and strong institutions
17 Partnerships for the goals
Middlesex University ThemeSustainability
Health & Wellbeing
Research GroupCentre for Enterprise, Environment and Development Research (CEEDR)
Corporate Social Responsibility and Business Ethics group
International Business group
International and Cross-cultural Management group
Diversity and Gender group
Employment Relations group
Professional Practice group for Leadership, Work and Organisations
Strategic Marketing, Consumer Behaviour and Branding/Identity group
Centre for Education Research and Scholarship (CERS)
LanguageEnglish
Conference43rd EBES Conference
Page range63-63
ISBN
Electronic978-605-71739-3-5
PublisherEurasia Business and Economics Society (EBES)
Publication dates
Online24 Apr 2023
Publication process dates
Deposited02 May 2023
Accepted15 Mar 2023
Output statusPublished
Web address (URL)https://ebesweb.org
Book title43rd EBES Conference – Madrid Program and Abstract Book
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