GREEN BONDS AS A NEW BORROWING INSTRUMENT: FINDINGS ON GLOBAL MARKETS AND RECENT SITUATION IN TURKEY

Year 2022, Issue: 125, 311 - 341, 05.08.2022

Nilüfer Turan

https://doi.org/10.52836/sayistay.1126816

Cited By: 1

Abstract

Recently, within the scope of sustainability; ‘green borrowing instruments’ and especially green bonds which emerged to finance projects developed to mitigate the harmful effects of climate change, have rapidly become widespread. In this study, the functioning and basic features of “green bonds”, which constitute the largest share in this market are analyzed. Some of the data collected globally so far is used to evaluate the development of green bond markets in the world and in Turkey. Also green bonds are compared with traditional bonds and some inferences are made regarding green public debt securities for Turkey. Considering the existing magnitude and significance of the amount of projects financed this way; it can be inferred that green bond market will continue to play an important role and expand further in the near future.

Keywords

Sustainability, Green Bonds, Green Bond Markets.

YENİ BİR BORÇ ENSTRUMANI OLARAK YEŞİL TAHVİLLER: GLOBAL PİYASALAR VE TÜRKİYE’DEKİ MEVCUT DURUM ÜZERİNE TESPİTLER

Abstract

Sürdürülebilirlik kapsamında, iklim değişiminin zararlı etkilerine karşı geliştirilen projelerin finansmanı amacıyla kullanılan sürdürülebilirlik tahvilleri ve özellikle yeşil tahviller son dönemde hızla yaygınlaşmaktadır. Bu çalışmada, “yeşil tahviller”in, dünyadaki ve Türkiye’deki işleyişi ve temel özellikleri incelenmiş ve bugüne kadar bu konuda oluşturulmuş verilerin bir kısmı analiz edilerek; yeşil tahvil piyasalarının dünyada ve Türkiye’deki gelişimi ve mevcut durumu üzerine değerlendirmeler yapılmıştır. Çalışmada ayrıca, yeşil tahvillerin geleneksel tahvillerle karşılaştırması yapılmış ve Türkiye için yeşil kamu borçlanma senetlerine ilişkin saptamalarda bulunulmuştur. Mevcut durumda, miktarların büyüklüğü ve finansmanın uluslararası boyutta önemi dikkate alındığında, sürdürülebilirlik tahvilleri içerisinde yeşil tahvil piyasasının gelecekte de önemli bir fonksiyonu yerine getirmeye devam edeceği ve daha da büyüyeceği öngörülmektedir

Keywords

Sürdürülebilirlik Tahvilleri, Yeşil Tahviller, Yeşil Tahvil Piyasaları

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