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This paper comprehensively analyzes the overall status of the green bond market in Latin America and the Caribbean (LAC) for the renewable energy sector. Our results show that, in most cases, issuers are non-financial corporations. Also, despite LAC's low perception of transparency, 78% of the volume issued has been externally reviewed. In general terms, the barriers imposed on issuance by local governments, mainly municipal debt ceiling, low credit rating and solvency, limited capabilities to prepare bankable projects, and lack of communication channels between the financial sector and local governments, constrain the green bond market in LAC. Furthermore, although the presence of development institutions that promote the issuance of green bonds in the renewable sector has improved in recent years, it is mandatory to continue making progress in this area. For that purpose, closer cooperation and alliances are essential to share responsibilities and knowledge in LAC. [ABSTRACT FROM AUTHOR]

“Sustainable investments”, “green funds”, “green bonds” and “de-risking strategies”: the ambitious goals of the Sustainable Development Goals (SDGs) are accompanied by fundamental changes in the structures of development fi nance, which can be welldescribed by the terms fi nancialisation and de-risking. The fi nancing of renewable energy projects sheds light on these processes and shows which new dependencies and changed power structures accompany the growing importance of private fi nancing and public-private partnerships in development fi nance, specifi cally at the energy/development nexus. This paper is thus dedicated to current developments in the fi eld of renewable energy fi nancing, using the Zambian energy transition as an example. It examines the implementation of two transnationally orchestrated renewable energy projects (scaling solar and GETFiT) against the theoretical background of fi nancialisation and, in particular, the subordinate fi nancialisation strand, as well as postcolonial statehood. On the one hand, the article shows how the rapid fi nancing and implementation of renewable energy projects can succeed with a market-based risk mitigation strategy involving international institutions and investors. However, on the other hand, this process leads to the marginalisation of Zambian companies and thus impedes a possible industrialisation process and the associated creation of jobs. In addition, Zambia becomes increasingly dependent on international investors, limiting its space for political manoeuvre. [ABSTRACT FROM AUTHOR]

Nowadays, European countries, while implementing the goals of sustainable development, are trying to be energy secure by reducing energy consumption and switching to renewable energy sources; the issue of green bonds is essential in the financing of these projects. This study aims to investigate the current situation and trends in green finance, identifies its problems and challenges, as well as determines the importance of green bonds in sustainability in general and renewable energy supply in particular. The authors conducted a bibliometric analysis of green finance and renewable energy, followed by an extensive literature review identifying the benefits and challenges of green bond investments, continued with an empirical study that included hypothesis testing and the creation and analysis of the EU countries clusters, which have not been sufficiently studied to date. A study examining trends in green finance, identifying its benefits and challenges, found that green bond investments have a positive impact on carbon reduction and renewable energy supply in the EU OECD countries, and cluster analysis of the European OECD countries indicated a positive relationship between economic performance and overall ESG risk. [ABSTRACT FROM AUTHOR]

Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China's emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders' risk in such emerging sustainable investment is moderated by these participating institutions and structured "upsides" from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery. [ABSTRACT FROM AUTHOR]