India's low carbon value chain, green debt, and global climate finance architecture

IF 1.7 Q3 MANAGEMENT

IIMB Management Review Pub Date : 2023-06-01 DOI:10.1016/j.iimb.2023.03.005

A. Damodaran , Onno van den Heuvel

引用次数: 3

Abstract

The paper critically evaluates the bottlenecks inherent in India's low carbon value chain that is financed by green bonds and related debt securities. The paper identifies three cardinal limitations of the value chain viz. unviable carbon mitigation projects, insufficient market competitiveness of green bonds issued from India and the inability of refinancing institutions to securitise their liabilities and overcome the problem of asset-liability mismatch. It is argued that a climate financial architecture that overcomes these limitations provides important lessons to the ongoing global efforts to strengthen the financial mechanisms laid down by the Paris Agreement on Climate Change.

查看原文本刊更多论文

印度低碳价值链、绿色债务与全球气候融资架构

本文批判性地评估了由绿色债券和相关债务证券融资的印度低碳价值链所固有的瓶颈。本文确定了价值链的三个主要限制，即不可行的碳减排项目，印度发行的绿色债券缺乏市场竞争力，以及再融资机构无法将其负债证券化并克服资产负债错配问题。有人认为，克服这些限制的气候金融架构为正在进行的加强《巴黎气候变化协定》规定的金融机制的全球努力提供了重要的经验教训。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

IIMB Management Review MANAGEMENT-

CiteScore

3.20

自引率

5.90%

发文量

审稿时长

68 days

期刊介绍： IIMB Management Review (IMR) is a quarterly journal brought out by the Indian Institute of Management Bangalore. Addressed to management practitioners, researchers and academics, IMR aims to engage rigorously with practices, concepts and ideas in the field of management, with an emphasis on providing managerial insights, in a reader friendly format. To this end IMR invites manuscripts that provide novel managerial insights in any of the core business functions. The manuscript should be rigorous, that is, the findings should be supported by either empirical data or a well-justified theoretical model, and well written. While these two requirements are necessary for acceptance, they do not guarantee acceptance. The sole criterion for publication is contribution to the extant management literature.Although all manuscripts are welcome, our special emphasis is on papers that focus on emerging economies throughout the world. Such papers may either improve our understanding of markets in such economies through novel analyses or build models by taking into account the special characteristics of such economies to provide guidance to managers.