TY  - UNPD
A1  - Di Tommaso, Caterina
A1  - Perdichizzi, Salvatore
A1  - Vigne, Samuel
A1  - Zaghini, Andrea
T1  - Is the government always greener?
N2  - This research focuses on the cost of financing green projects on the primary bond market and tests for a potential price differential between green bonds issued by government entities and those issued by supranational and private sector issuers. Our findings indicate that government entities benefit from more favorable pricing conditions worldwide. This advantage is growing over time and particularly pronounced for sovereigns and municipal authorities. Our analysis also reveals that country-specific factors, such as strong political commitment to address climate change, low income level and high degree of indebtedness are significant predictors of the pricing spread across bonds.
T3  - CFS working paper series - No. 718 
KW  - Green bonds
KW  - Sovereign debt
KW  - Yield spread
KW  - Greenium
Y1  - 2023
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/72296
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-722968
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4746637
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -