Many governments have started issuing 'green' bonds tied to expenditures on projects with environmental objectives such as climate change mitigation. While well-intentioned, issuance of a green bond by an investment-grade sovereign has no environmental impact, leaves funding costs unchanged,...

The European Green Deal, which aims to steer the EU towards climate neutrality, has traditionally been met with a degree of reluctance by the Visegrád countries. The convergence to green targets represents a particular challenge for these economies, given their fossil fuel-intensive industrial...