The Role of Green Bonds in Financing Sustainable Energy Projects: Trends and Prospect

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dc.contributor.authorOzyesil, Mustafa
dc.contributor.authorTembelo, Havane
dc.date.accessioned2026-01-31T15:04:30Z
dc.date.available2026-01-31T15:04:30Z
dc.date.issued2025
dc.departmentİstanbul Beykent Üniversitesi
dc.description.abstractThis study investigates the determinants of green bond issuance across multiple countries from 2017 to 2023, with a panel data analysis approach. The analysis focuses on the impact of interest rates, renewable energy capacity, carbon emission reduction, and GDP on green bond issuance. To determine the long-run equilibrium relationship among these variables, the Pedroni co-integration test was employed. The results confirmed the presence of co-integration, validating the use of Panel Dynamic OLS (DOLS) for estimating the long-run coefficients. DOLS, which includes leads and lags of the differenced independent variables, were utilized to account for potential endogeneity and serial correlation, providing robust estimates. The findings indicate that higher interest rates are associated with lower green bond issuance, while greater renewable energy capacity and higher GDP positively correlated with increased green bond issuance. Carbon emission reduction shows a negative relationship, suggesting a saturation effect in countries with significant existing reductions. © 2025, Econjournals. All rights reserved.
dc.identifier.doi10.32479/ijeep.16942
dc.identifier.endpage379
dc.identifier.issue2
dc.identifier.scopus2-s2.0-86000107672
dc.identifier.scopusqualityQ2
dc.identifier.startpage370
dc.identifier.urihttps://doi.org/10.32479/ijeep.16942
dc.identifier.urihttps://hdl.handle.net/20.500.12662/10569
dc.identifier.volume15
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherEconjournals
dc.relation.ispartofInternational Journal of Energy Economics and Policy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_Scopus_20260128
dc.subjectFixed Effects Model
dc.subjectGreen Bonds
dc.subjectPanel Data Analysis
dc.subjectRenewable Energy
dc.subjectSustainable Finance
dc.titleThe Role of Green Bonds in Financing Sustainable Energy Projects: Trends and Prospect
dc.typeArticle

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