scholarly journals THE SOVEREIGN GREEN BONDS MARKET IN THE EUROPEAN UNION: ANALYSIS AND GOOD PRACTICES

2019 ◽  
Vol 30 (1) ◽  
pp. 165-172
Author(s):  
Vanya Dencheva Tsonkova
Keyword(s):  
European Union ◽  
Global Market ◽  
The European Union ◽  
Investment Bank ◽  
Good Practices ◽  
Sovereign Bonds ◽  
International Regulations ◽  
Sustainable Finance ◽  
Legislative Changes ◽  
European Investment

In a world facing the growing problems of climate change and social differentiation, the so-called ―sustainable finance‖ increases its importance and popularity. The object of this field of study is the transfer of capital flows to projects with clearly defined environmental and social benefits. Key instruments are Green bonds, Social bonds and Sustainability bonds. The article is dedicated to green bonds, focusing on sovereign issues. It is widely known that the green bond market begins its development with the so-called ―supranational‖ issues – the bonds of the international financial institutions – the European Investment Bank in 2007 and the World Bank in 2008, for financing renewable energy projects. The real boom in the market starts in 2014 when new issues reach nearly $ 40 billion – four times more than in 2013. Exponential growth continues in the coming years, reaching $ 155 billion in 2017. Sovereign green bonds make a relatively late debut on the market – in the end of 2016, in a member state of the European Union – Poland. However, in 2018 government issues have already had a significant appearance on the market and are a strong signal of the state's commitment to environmental problems. The article analyzes the state of the European market in the context of the global market for sovereign green bonds. Review of international regulations and adopted standards, as well as of the legislative changes within the European Union related to sustainable financing, are made. The other focus is on the particularities in the methodology for issuing Climate Financial Instruments. The good practices for issuing sovereign green bonds in the European Union are also being considered and an attempt to outline the challenges to market development is made. The basis of the analysis is the sovereign bonds, issued from Poland, France, Belgium, Ireland and Lithuania.

scholarly journals Climate finance activities of the multilateral development banks, emphasizing the role of the European Investment Bank in this regard

2021 ◽  
Vol 11 (5) ◽  
pp. 294-306
Author(s):  
Zoltán Eperjesi
Keyword(s):  
European Union ◽  
Global Market ◽  
Regional Disparities ◽  
Climate Finance ◽  
The European Union ◽  
Investment Bank ◽  
Multilateral Development Banks ◽  
European Investment Bank ◽  
Development Banks ◽  
European Investment

Regional disparities have always been present in the history of the European Union that has become more and more significant and intense on the occasion of the continuous enlargements of the integration. The European Investment Bank (EIB) as a policy driven development bank of the European Union plays a crucial role in reducing these regional disparities and fostering the social and territorial cohesion of the union by providing funds at favourable terms. The EIB, on the path of considerable metamorphosis, is being transformed to a so called climate or green bank, having simultaneously two task to fulfil, namely to strengthen the European Union’s position on the multi-polar global market and secure a just transition for those regions that are mostly hit by the measures taken for a climate-friendly and environmentally sustainable economy. All of the multilateral development banks following the parity and disparity models place great emphasis upon climate finance to contribute to sustainable economic growth, increasing employment and a heathy planet. The research covers the period of time between 2015 and 2025.

3. The institutions of the European Union

2021 ◽  
pp. 42-78
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
European Central Bank ◽  
European Council ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
European Central ◽  
European Investment ◽  
Committee Of The Regions ◽  
The Eu

This chapter discusses the role and composition of the institutions of the EU. These include the European Council, the Council, the Commission, the European Parliament, the Court of Justice of the European Union (CJEU) and the General Court, the Court of Auditors, the European Economic and Social Committee (EESC), the Committee of the Regions (COR), the European Investment Bank and the European Central Bank. This chapter also discusses the EU’s associated bodies or agencies as well as their respective roles and the ways in which they interrelate with the EU institutions.

3. The institutions of the Union

2018 ◽  
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
European Council ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
European Central ◽  
European Investment ◽  
Committee Of The Regions

This chapter discusses the institutions of the EU and associated bodies. These include the European Council, the Council, the Commission, the European Parliament, the Court of Justice of the European Union and the General Court, the Court of Auditors, the European Economic and Social Committee (EESC), the Committee of the Regions (COR), the European Investment Bank, and the European Central Bank.

The European Investment Bank

2021 ◽  
pp. 97-115
Author(s):  
Judith Clifton ◽  
Daniel Díaz-Fuentes ◽  
Ana Lara Gómez
Keyword(s):  
European Union ◽  
Cold War ◽  
Qualitative Analysis ◽  
Environmental Protection ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
Capital Constraints ◽  
European Investment ◽  
The Cold War

The European Investment Bank (EIB) constitutes one of the main institutional pillars upon which the European Union (EU) was built. Strikingly, the institution has attracted little research. EIB Statutes can be condensed down to five overarching objectives that its lending should prioritize: originally, development, integration and investment, and, since the mid-1990s, environmental protection and tackling unemployment. This chapter provides a comprehensive qualitative analysis of EIB lending to Europe from its origins to the present and examines the Bank’s loans in light of its lending objectives. We find a watershed moment occurring at the end of the Cold War. Until the 1990s, the EIB promoted integration and development above the alleviation of capital constraints. Since then, however, there was a progressive ‘mechanization’ of EIB loans at the expense of securing the institution’s mission, to the extent that loans were increasingly associated with capital subscribed by its members. This could mean that the EIB mission as found in its Statutes and its lending practice is becoming increasingly misaligned.

scholarly journals Promoting Investment in the European Union, Evaluating the Juncker Plan

2020 ◽  
pp. 323-335
Author(s):  
Stephany Griffith-Jones
Keyword(s):  
European Union ◽  
The European Union ◽  
Investment Bank ◽  
Strategic Investment ◽  
European Investment Bank ◽  
European Investment

AbstractThis chapter analyzes the Juncker Plan, in particular, the European Fund for Strategic Investment (EFSI), highlighting its achievements in expanding investment in the European Union and challenges in mitigating future risks to the European Investment Bank, as well as maximizing the development impact of its activities.

Article 343 TFEU

2019 ◽  
Author(s):  
Marcus Klamert
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
The European Union ◽  
Investment Bank ◽  
Member States ◽  
European Investment Bank ◽  
European Central ◽  
European Investment

Article 291 EC The Union shall enjoy in the territories of the Member States such privileges and immunities as are necessary for the performance of its tasks, under the conditions laid down in the Protocol of 8 April 1965 on the privileges and immunities of the European Union. The same shall apply to the European Central Bank and the European Investment Bank.

scholarly journals Analysis of the Regional Efficiency of European Funds in Spain from the Perspective of Renewable Energy Production: The Regional Dimension

2021 ◽  
Vol 18 (9) ◽  
pp. 4553
Author(s):  
Paul Mugambi ◽  
Miguel Blanco ◽  
Daniel Ogachi ◽  
Marcos Ferasso ◽  
Lydia Bares
Keyword(s):  
Smart Growth ◽  
Renewable Energies ◽  
Growth Strategy ◽  
Sustainable Growth ◽  
Data Envelopment ◽  
The European Union ◽  
Investment Bank ◽  
Structural Funds ◽  
Spanish Regions ◽  
European Investment

During the 2010–2020 period, the European Union (EU) launched a growth strategy based on three fundamental pillars: smart growth, sustainable growth, and inclusive growth. Aiming to finance the projects related to these growth pillars, the EU used mainly the Rural Development Funds, the Structural Funds, those derived from the R&D Framework Program, the Trans-European Networks, and the European Investment Bank. This research aimed to determine whether the Spanish regions maintain homogeneous efficiency levels by using these resources to improve the levels of environmental quality related to renewable energies. A methodology that is frequently used by researchers in efficiency analyses was chosen, the Data Envelopment Analysis (DEA). The main findings revealed that the efficiency in the use of renewable energies is very uneven among the Spanish regions and these differences are maintained throughout the period analyzed. These results highlighted the need of changes regarding the proposed criteria for allocating European resources to finance the projects presented by each Spanish region.

scholarly journals An Overview of the Existing Schemes and Research Trends in Financing the Energy Upgrade of Buildings in Europe

2020 ◽  
Vol 27 (2) ◽  
pp. 53-62
Author(s):  
Christiana Panteli ◽  
Eglė Klumbytė ◽  
Rasa Apanavičienė ◽  
Paris A. Fokaides
Keyword(s):  
Built Environment ◽  
Large Scale ◽  
Energy Savings ◽  
Future Research ◽  
The European Union ◽  
Building Sector ◽  
Investment Bank ◽  
Research Activities ◽  
Funding Programs ◽  
European Investment

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Wie die EU den Weg aus der „Pandemie-Krise“ findet: Lehren aus der Krisenpolitik nach 2008

IG ◽  
2021 ◽  
Vol 44 (4) ◽  
pp. 328-335
Author(s):  
Hartmut Marhold
Keyword(s):  
Debt Crisis ◽  
Financial Economic ◽  
Learning System ◽  
The European Union ◽  
Investment Bank ◽  
The Public ◽  
Active Player ◽  
European Investment ◽  
The Eu

The European Union (EU) invests huge resources in overcoming the pandemic crisis and does so as a learning system: The Union learned lessons from the previous, the financial, economic and state debt crisis after 2008, in many ways. The EU assumes now definitely the role of an active player in the economy, leaving behind the neoliberal doctrine; she suspends the restrictive budgetary policy, which prevented already in 2008 and the following years adequate solutions; she reshaped the control over its financial aid programmes so that harsh conflict between member states („troika“) are mitigated; the Union further refined the public private partnership mechanisms established unter the aegis of the European Investment Bank (EIB); the European Central Bank (ECB) assumes now a role still disputed after 2008; the flexibility clauses of the Lisbon Treaty, just put into force after 2008, are now extensively applied; and, more than anything else, the Union aims at a change of paradigm by putting the NextGenerationEU programme at the service of sustainable development (enshrined in the Green Deal).

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