Search

This paper summarizes the relevant researches in the area of the green bond market within the perspective of the performance of the global green bond market in the face of the COVID-19 pandemic. Despite the rapid expansion of the green bond market during the last decade, this market has also experienced the consequences of the COVID-19 pandemic. The researches on the effect of COVID-19 and its induced crisis on the green bond markets are still fragmentary; therefore, the main purpose of this research is to evaluate the impact of the COVID-19 pandemic on the global green bond market. To reach the purpose, the methods of literature analysis, and correlation-regression analysis are used. In the first section of the paper, the research problem is presented; in the second part the analysis of academic literature is conducted; in the third part the design of the research is described, and in the fourth part the results of the assessment of the impact of COVID-19 pandemic on the global green bond market are discussed. The results of the research revealed that the spread of the COVID-19 pandemic appeared to have a negative impact on the performance of the S&P Green Bond Index. The market reaction to deaths caused by COVID-19 infection proved to be stronger than the reaction to confirmed cases of COVID-19 infection. However, after a sufficiently significant negative shift, which was observed in the first quarter of 2020, the S&P Green Bond Index regained its upward trend, which continued for the rest of the year.

The paper devoted to the analysis of the main principals of green investments as the alternative recourse to finance the achievement of the Sustainable Developments Goals 2030. Besides, the obtained result of the analysis of green investments dynamic proved the snowballing effect of green finance market developing in the world. The results of analysed showed: that emerging and developed countries influence on climate with different power; had unequal financial potential to achieve Sustainable Development Goals. In the paper, the authors tried to check hypotheses: linking between the country's contribution to the international commitment on climate-related expending, the volume of climate finance (as a type of green investments) and the country's rating on the Sustainable Development Index. The objects of the investigation were European and developing countries in the period 2015-2017 years. Under this research, the authors used the dataset from World Data Bank, Eurostat, Reports of OECD, European Investment Bank, Climate Bonds Initiative, Sustainable Development Index. The findings showed the correlation between the volume of green investments (for two types: international commitment on climate-related expending, the volume of climate finance) and country's efficiency on the way to achieve the SDGs 2030. Thus, the country with the higher volume of green investments occupied the higher position on the Sustainable Development Index. On the basis of the findings and results of the analysis of the EU experience, the authors allocated the most attractive direction to develop green investments market for emerging countries.