India's low carbon value chain, green debt, and global climate finance architecture
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Elsevier
2023-06-01
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| Series: | IIMB Management Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S0970389623000277 |
| _version_ | 1797783600529145856 |
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| author | A. Damodaran Onno van den Heuvel |
| author_facet | A. Damodaran Onno van den Heuvel |
| author_sort | A. Damodaran |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-13T00:28:11Z |
| format | Article |
| id | doaj.art-88101de8698742ef9c7bf9fa302cb242 |
| institution | Directory Open Access Journal |
| issn | 0970-3896 |
| language | English |
| last_indexed | 2024-03-13T00:28:11Z |
| publishDate | 2023-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | IIMB Management Review |
| spelling | doaj.art-88101de8698742ef9c7bf9fa302cb2422023-07-11T04:06:15ZengElsevierIIMB Management Review0970-38962023-06-0135297107India's low carbon value chain, green debt, and global climate finance architectureA. Damodaran0Onno van den Heuvel1Indian Institute of Management Bangalore, Bannerghatta Road, Bangalore, India; Corresponding author: Indian Institute of Management Bangalore, Bannerghatta Road, Bangalore, India.BIOFIN, United Nations Development Programme (UNDP), IstanbulThe 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.http://www.sciencedirect.com/science/article/pii/S0970389623000277Carbon marketsGreen bondsNationally determined contribution(s)Climate financing ArchitectureSecuritisationCentral Bank |
| spellingShingle | A. Damodaran Onno van den Heuvel India's low carbon value chain, green debt, and global climate finance architecture IIMB Management Review Carbon markets Green bonds Nationally determined contribution(s) Climate financing Architecture Securitisation Central Bank |
| title | India's low carbon value chain, green debt, and global climate finance architecture |
| title_full | India's low carbon value chain, green debt, and global climate finance architecture |
| title_fullStr | India's low carbon value chain, green debt, and global climate finance architecture |
| title_full_unstemmed | India's low carbon value chain, green debt, and global climate finance architecture |
| title_short | India's low carbon value chain, green debt, and global climate finance architecture |
| title_sort | india s low carbon value chain green debt and global climate finance architecture |
| topic | Carbon markets Green bonds Nationally determined contribution(s) Climate financing Architecture Securitisation Central Bank |
| url | http://www.sciencedirect.com/science/article/pii/S0970389623000277 |
| work_keys_str_mv | AT adamodaran indiaslowcarbonvaluechaingreendebtandglobalclimatefinancearchitecture AT onnovandenheuvel indiaslowcarbonvaluechaingreendebtandglobalclimatefinancearchitecture |