請用此 Handle URI 來引用此文件:
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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 洪茂蔚 | zh_TW |
dc.contributor.advisor | Mao-Wei Hung | en |
dc.contributor.author | 林卓晴 | zh_TW |
dc.contributor.author | Zhuo-Qing Lin | en |
dc.date.accessioned | 2023-08-08T16:21:12Z | - |
dc.date.available | 2023-11-09 | - |
dc.date.copyright | 2023-08-08 | - |
dc.date.issued | 2023 | - |
dc.date.submitted | 2023-07-06 | - |
dc.identifier.citation | 英文
Ando, Sakai, Chenxu Fu, Francisco Roch, and Ursula Wiriadinata. (2022). “Sovereign Climate Debt Instruments: An Overview of the Green and Catastrophe Bond Markets.” IMF Staff Climate Note 2022/004, International Monetary Fund, Washington, DC. Bachelet, M. J., Becchetti, L., & Manfredonia, S. (2019). The Green Bonds Premium Puzzle: The Role of Issuer Characteristics and Third-Party Verification. Sustainability, 11(4), 1098. MDPI AG. Retrieved from http://dx.doi.org/10.3390/su11041098 Baker, M., Bergstresser, D., Serafeim, G., & Wurgler, J. (2018). Financing the response to climate change: The pricing and ownership of US green bonds (No. w25194). National Bureau of Economic Research. Climate Bonds Initiative (2022). China Green Bond Market Report. Retrieved from https://www.climatebonds.net/files/reports/cbi_china_sotm_2021_0.pdf Climate Bonds Initiative (2022). Climate Bonds Taxonomy. Retrieved from https://www.climatebonds.net/standard/taxonomy Climate Bonds Initiative (2022). Green Bond Database Methodology. Retrieved from https://www.climatebonds.net/files/files/CBI_Method_Criteria_03A.pdf Climate Bonds Initiative (2022). Interactive Data Platform. Retrieved from https://www.climatebonds.net/market/data/ Doronzo, R., Siracusa, V., & Antonelli, S. (2021). Green bonds: The sovereign issuers’ perspective. Bank of Italy Markets, Infrastructures, Payment Systems Working Paper, (3). European Commission (2020). A European Green Deal. Retrieved from https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en Finanzagentur GmbH (2023). Federal Republic of Germany Green Bond Investor Presentation. Finanzagentur GmbH (2023). Green bond allocation report 2022. Retrieved from https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/green/reports/GreenBondAllocationReport_2022_en.pdf Gianfrate, G., & Peri, M. (2019). The green advantage: Exploring the convenience of issuing green bonds. Journal of cleaner production, 219, 127-135. HKEX. (2021). Green & sustainable finance : from vision to market practice. The Commercial Press. Hyun, S., Park, D., & Tian, S. (2019). The price of going green: the role of greenness in green bond markets. Accounting & Finance, 60(1), 73-95. Kaminker, C. (2017). Mobilising Bond Markets for a Low-Carbon Transition. Karpf, A., & Mandel, A. (2018). The changing value of the ‘green’ label on the US municipal bond market. Nature Climate Change, 8(2), 161-165. Legal and General Investment Management (2021). The Green Bond Market. Retrieved from https://www.lgim.com/landg-assets/lgimetf/files/green-bond-market---collaboration-lgim--cbi.pdf MacAskill, S., Roca, E., Liu, B., Stewart, R. A., & Sahin, O. (2021). Is there a green premium in the green bond market? Systematic literature review revealing premium determinants. Journal of Cleaner Production, 280, 12449. Maltais, A., & Nykvist, B. (2020). Understanding the role of green bonds in advancing sustainability. Journal of sustainable finance & investment, 1-20. Mckinsey (2022). The net-zero transition: What it would cost, what it could bring. Retrieved from https://www.mckinsey.com/capabilities/sustainability/our-insights/the-net-zero-transition-what-it-would-cost-what-it-could-bring OECD (2016). Green bonds: Country Experiences, Barriers and Options. OECD (2017). “Mobilising Bond Markets for a Low-Carbon Transition, Green Finance and Investment.” OECD Publishing, Paris. Principles for Responsible Investment. Retrieved from https://www.unpri.org/about-us/about-the-pri Slimane, M. B., Fonseca, D., & Mahtani, V. (2020). Facts and fantasies about the green bond premium. Working paper 102-2020. Amundi Publications. Technical Expert Group on Sustainable Finance (2019). Report on EU Green Bond Standard. Retrieved from https://finance.ec.europa.eu/system/files/2019-06/190618-sustainable-finance-teg-report-overview-green-bond-standard_en.pdf Technical Expert Group on Sustainable Finance (2020). EU Green Bond Standard Usability Guide. Retrieved from https://finance.ec.europa.eu/system/files/2020-06/200309-sustainable-finance-teg-green-bond-standard-usability-guide_en.pdf Times, N. Y. (2020). Black Rock CEO Larry Fink: Climate crisis will reshape finance. New York Times. United Nations Development Programme (2022). Identifying the Greenium. Retrieved from https://www.undp.org/blog/identifying-greenium Zerbib, O.D. (2019). The effect of pro-environmental preferences on bond prices: Evidence from green bonds. Journal of Banking & Finance, 98, 39-60. 中文 中華民國國家發展委員會, 行政院環境保護署, 經濟部, 科技部, 交通部, 內政部, 行政院農業委員會, & 金融監督管理委員會. (2023). 臺灣2050 淨零排放路徑及策略總說明. 財團法人中華民國證券櫃檯買賣中心. (2023). https://www.tpex.org.tw/ | - |
dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/88112 | - |
dc.description.abstract | 氣候變遷問題已然成為全球永續發展的一大議題,永續發展需要跨越國界與各利害關係人共同努力。綠色金融為實現永續轉型的重要工具,綠色債券更是將資金流導向永續發展領域的重要關鍵。然而,過去對於綠色債券的溢價研究仍缺乏定論,德國孿生債券則以其創新設計消除潛在偏誤,進一步揭示了綠色溢價的情況。本研究針對德國孿生債券的設計架構、實際發行情形以及綠色溢價情況進行深入分析,以為台灣債券市場發展提供建議。研究結果顯示,德國孿生債券中的綠色溢價長期存在,且政府發行綠色債券可降低財政負擔,滿足基礎建設轉型所需的大量資金需求。因此,本研究建議台灣可參考德國的做法,發行主權綠色債券以實施淨零轉型計劃,促進綠色金融市場發展,以達成淨零排放目標。 | zh_TW |
dc.description.abstract | Climate change has been a significant issue for global sustainable development, requiring collaborative efforts among countries and stakeholders. Green finance is an essential tool for achieving sustainable transformation, and green bonds are a crucial means of directing capital flows towards sustainable development. However, there is still a lack of consensus on the premium associated with green bonds. The innovative design of Germany's twin bond structure has eliminated potential biases and further revealed the situation of greeniums. Therefore, this study conducts an in-depth analysis of the design framework, actual issuance, and greeniums situation of Germany's twin bonds to provide recommendations for Taiwan's green bond market development. The research results indicate that greeniums in Germany's twin bonds exist over the long term, and the issuance of government green bonds can reduce fiscal burdens and meet the significant funding needs required for infrastructure transformation. Therefore, this study suggests that Taiwan can refer to Germany's practice of issuing sovereign green bonds to implement net-zero transition plans, promote the development of green finance markets, and achieve the goal of net-zero emissions. | en |
dc.description.provenance | Submitted by admin ntu (admin@lib.ntu.edu.tw) on 2023-08-08T16:21:12Z No. of bitstreams: 0 | en |
dc.description.provenance | Made available in DSpace on 2023-08-08T16:21:12Z (GMT). No. of bitstreams: 0 | en |
dc.description.tableofcontents | 致謝 ⅰ
摘要 ⅱ ABSTRACT ⅲ 目錄 v 圖目錄 ⅵ 表目錄 ⅶ 第一章 緒論 1 一、研究動機與背景 1 二、研究目的 3 第二章、文獻探討 5 一、綠色債券定義及準則 5 1.綠色債券原則 5 2.氣候債券標準 8 3.綠色債券標準 10 二、綠色債券市場 12 三、綠色債券市場參與者之動機 18 四、綠色債券溢價 19 1.綠色債券溢價之定義 19 2.綠色債券溢價之文獻整理 20 五、主權綠色債券 22 第三章、德國主權綠色債券之探討 25 一、發行背景 25 1.德國邁向溫室氣體中和之路 25 2.發行主權綠色債券之目的 26 二、孿生綠色債券 27 1.設計架構 27 2.資金用途 29 3.發行架構 30 4.整體發行情形 32 5.個別發行情形 36 三、綠色溢價 37 第四章、台灣綠色債券與永續發展之探討 42 一、台灣綠色債券市場 42 二、台灣净零排放路徑 45 第五章、結論與建議 47 一、研究結論 47 二、研究限制與未來研究建議 48 參考文獻 49 | - |
dc.language.iso | zh_TW | - |
dc.title | 綠色溢價:以德國孿生債券爲例 | zh_TW |
dc.title | Greenium: A Case Study of German Twin Bonds | en |
dc.type | Thesis | - |
dc.date.schoolyear | 111-2 | - |
dc.description.degree | 碩士 | - |
dc.contributor.oralexamcommittee | 蔡佳芬;蔡豐澤 | zh_TW |
dc.contributor.oralexamcommittee | Chia-Fen Tsai;Feng-Tse Tsai | en |
dc.subject.keyword | 綠色溢價,主權綠色債券,孿生債券,永續發展, | zh_TW |
dc.subject.keyword | Greenium,Sovereign Green Bonds,Twin Bonds,Sustainable Development, | en |
dc.relation.page | 52 | - |
dc.identifier.doi | 10.6342/NTU202301320 | - |
dc.rights.note | 未授權 | - |
dc.date.accepted | 2023-07-10 | - |
dc.contributor.author-college | 管理學院 | - |
dc.contributor.author-dept | 國際企業學系 | - |
顯示於系所單位: | 國際企業學系 |
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