Sustainable Finance from governance: The case of Chilean green bonds.
Isabel Torres Zapata
Published 2025-01-02
Keywords
- Green bonds,
- Climate change,
- Chile,
- ESG Factors,
- Sustainable finance
How to Cite
Copyright (c) 2024 Isabel Torres Zapata, Leonardo Pacheco Caro, Claudio Flores Flores, Humberto Borges Quintanilla
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Abstract
Climate change is affecting people and countries all over the world. In order to mitigate the effects and become part of the solution, companies and investors must be considered as relevant actors in this situation; in this sense, Sustainable Finance (SF), a branch that brings together considerations on finance and sustainability, takes into account these two perspectives. Given the diversity of concepts and situations that have emerged around this topic, it is necessary to answer the question How do the various organizations involved in sustainable finance operate? By addressing this question from a governance perspective, it is possible to organize and understand the various initiatives that have emerged around the topic. In order to have a common thread in the subject, we have chosen green bonds as the most recurrent and developed financial instrument in the context of SF in Chile. According to what we have analyzed, an important commitment of the country has been identified, which is reflected in the leadership of the Ministry of Finance on the subject, which is driving a financial system to have regulations that follow the same orientation, under the influence of international organizations such as the United Nations, the World Bank and the OECD. In conclusion, all the initiatives that are currently being developed will have a strong influence on the behavior of companies, as long as there are regulations that promote the change of behavior towards a truly sustainable development.
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References
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