Dragica Stojanović – Faculty of Management Zajecar, Park Šuma Kraljevica bb, Zajecar, Serbia

DOI: https://doi.org/10.31410/EMAN.2020.111

4th International Scientific Conference – EMAN 2020 – Economics and Management: How to Cope With Disrupted Times, Online/Virtual, September 3, 2020, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-30-1, ISSN 2683-4510


The paper analyses green bonds as sources of financing renewable energy projects. Green
bonds are a relatively new form of financing and thanks to increased investors’ climate awareness, the
market has seen an enormous growth in the last few years. Therefore, the guidelines and standards
adopted in financial markets clearly indicate what should be considered a green investment and are a
key to further development of the market and achieving the goals of green financing. The goal of the
theoretical approach to green bond market in the paper is to identify the key barriers that prevent many
countries from taking advantage of this new but growing source of financing renewable energy. The
lack of appropriate institutional arrangements for managing green bonds, issuing a minimum volume
and high transaction costs are the key obstacles to the development of green bond market. The overall
conclusion of the paper is that with just the right measures, many countries could make full use of
green bonds to finance climate change adaptation and mitigation projects and thus increase renewable
energy capacities.


Green bond, Renewable energy, Renewable energy projects, Climate change.


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