Welcome to VijayKittu.com

Sovereign Green Bonds as an Unconventional Tool to address Climate Change

Research Article

Authors: Vijaya Kittu Manda, Anuradha Yadav, Shivani Vikramaditya Sangwan, Sergij Vambol

DOI: https://doi.org/10.12775/EQ.2024.028

Journal Name: Ecological Questions; ISSN: 16447298, 20835469

Publisher: Akademicka Platforma Czasopism, Nicolaus Copernicus University, Poland

Volume Number: Vol 35 No 3

Journal Volume Link on Publisher Website

Publication Date: 8 February 2024

Pages: 1-26

Abstract: Creative efforts are necessary as global efforts seek to undertake projects focused on environmental, social, and governance (ESG) initiatives. Among various financial products that provide funding for projects, green bonds, particularly sovereign green bonds (SGB or SGrB) issued with sovereign guarantees by central governments, have gained prominence. Proceeds from SGBs are used to finance green projects such as non-conventional and renewable energy projects, alternative energy solutions, greenhouse gas emission reduction, climate change mitigation, or reduced use of carbon-based energy sources. SGB will receive increasing global attention as governments attempt to meet UN climate change goals. This research uses descriptive research methodology to examine the evolution, operational aspects, challenges, and investor expectations associated with SGrBs by taking India as a case. The study period is taken from 2016 to 2023. It used a conceptual approach to discuss the market's evolution. The findings highlight how SGBs provide an unconventional way to link green finance with ecological priorities by combining fiscal policy, investment and science-based solutions. The insights are intended to inform future SGB frameworks and strategies to target funded green growth towards pressing global sustainability issues.

Keywords: sustainable finance, green bonds, climate change, sovereign bonds, greenium, sovereign issuance, thematic bond, sovereign debt

Google Scholar Link | Scopus | Research Gate Link | SCI Profiles

Cite in APA format

Cite in IEEE format

Cite in Vancouver format

Research works citing this work..

Sovereign Climate Bonds: Policy Innovation for a Just Transition in Developing Countries
Adriana Chavarría-Flores; Peter Warren
THE DRIVING FORCE OF ISLAMIC FINANCE: THE CONTRIBUTION OF SUKUK VOLUME TO THE GLOBAL INNOVATION ECOSYSTEM
Hasan Kazak; Eds: Osman Okka; Huseyin Ergun; In book: Roadmap of Islamic Finance: Lasting Solutions in a Changing World; Publisher: Nobel Akademik Yayıncılık
Green bonds and climate change mitigation: A conceptual study of financial instruments in India
K. Manikanteswara Reddy; Ch. Srinivas; P. Uma Maheswari Devi; International Journal of Financial Accounting and Management 6(3):461-475
Green Bonds in India's Financial Landscape: Opportunities and Challenges
Sunidhi Rani Singh, Suchita Shukla / Chapter 12; Page 226 / Emerging Trends in Green Chemical Technologies: Navigating Challenges and Exploring Opportunities edited by S.V.A.R. Sastry, Shravan Kumar, Zeenat Arif; Cambridge Scholars Publishing
Case study on Sovereign Green Bonds (SGBs) Impact on Sustainable Green Public Sector Infrastructure: For Reducing Green Finance Gap
Dinesh N Rao; Dr Mahesh K.M; Sreeramana Aithal
Smart, sustainable, and inclusive? Investigating the dual impacts of digital and financial innovation on policy equity and environmental governance
Josephine Diana Santos Campos; Jofrey R Campos / September 2025 / International Journal of Innovative Research and Scientific Studies / 8(6):2829-2839
Computation Modeling Approaches for Green Bonds Pricing and Market Development
Lalitha Nammi; Vijaya Kittu Manda; Gnanadasan M. L. / In book: Computational Modelling Approaches to FinTech Innovation
India’s Sovereign Green Bond Initiative: Financing Sustainability through Green finance
February 2026 / Keerthana M / Conference Proceedings / SDM Institute for Management Development (SDMIMD) International Case Conference (ICC) 2026 / Theme: Contemporary Context in Innovation, Inclusion, and Impact / ICC26120
A Blueprint for Greenhouse Gas Reduction: Confronting the Climate Crisis
2025 / Kasinathan, Rengasamy; Kanchan, Arun / Book Chapter / In Book: A Blueprint for Greenhouse Gas Reduction: Confronting the Climate Crisis
Climate Risk Management Governance Disclosure in Euro Area Central Banks Managing Foreign Reserves: Valuation the Role of the Board
Apr 2026 / Ahmad Kaab Omeir; Deimante Vasiliauskaite; Wenting Meng / Conference Paper / In Book: Leading Change in Disruptive Times / Publisher: Springer Nature Switzerland, Cham / Editors: Mihail Busu
Green finance: impact of sovereign green bond issuance on performance of financial institutions
May 2026 / Shweta Bambuwala / Conference Paper / ESIC Market, 57(2), e426.
Technology Roadmaps for the Circular Economy
Vedant Prakash; Ojaswita Pragya; Amarnath R. Gupta / Book Chapter / In book: Circular Economy: Business, Technology, and Policy (Part 1) / Publisher: Bentham Science Publishers / Editors: Vijaya Kittu Manda, Theodore Tarnanidis, Vivek Gupta
Practices, Principles, and Model Implementations to Transform the Existing Linear Economy
June 2026 Kesavan, Varun; Polisetty, Aruna; Dash, Ganesh Book Chapter / Source Title: Circular Economy: Business, Technology, and Policy (Part 1)
Financing Circular Economy: Tools, Strategies, and Global Case Studies
June 2026 Prakash, Vedant; Pragya, Ojaswita; Gupta, Amarnath Book Chapter / Source Title: Circular Economy: Business, Technology, and Policy (Part 1)
The Influence of Climate Concerns, Fintech, and Policy Uncertainty on Green and Carbon-Based Investments in Islamic and Conventional Finance
May 2025 Hissah Altamimi Thesis
Assessing the Effectiveness of Green Bonds and ESG Funds in Financing India’s Renewable Energy Transition: Trends, Challenges, and Social Outcomes
August 2026 Subhash D. Pawar; Adesh Doifode; Udayan Mukherjee; Laxman Doiphode Conference Paper / In book: Proceedings of International Conference on Computing Systems and Intelligent Applications / Publisher: Springer Nature Switzerland, Cham / Editors: Ajay Jaiswal, Sameer Anand, Aboul Ella Hassanien / pp 143–158
The Macro-Fiscal Transmission Channels of Algorithmic Tax Enforcement: Evidence from North Macedonia E-Invoice Infrastructure
Conference: 18th Annual Conference of the Institute of Economic Sciences: INNOVATION ECONOMICS, POLICY AND ENTREPRENEURSHIPAt: Belgrade, Serbia / October 2026 Shiret Elezi; Milena Boskoska Klisaroski Conference Paper

Back to Research Publications and Edited Books