Green Bonds in EU Countries: Towards Sustainable Finance

Green bonds have become a key tool in driving sustainable investment within the European Union (EU). The concept of green bonds has been growing over the last two decades, with an extraordinary emphasis in between 2010 and 2019, when its utilization took off among the financial institutions, governments and companies seeking capital for sustainable ventures. This study investigates the role and relevance of green bonds in the financial architecture of the European Union, focusing on the analysis of key actors and the regulatory framework influencing the evolution of this financial instrument. It discusses, from both a theoretical and empirical approach, the motivations and strategies of financial institutions, governments, and non-governmental organizations in promoting and developing the green bonds market.