This report describes the development of the green bond market as an innovative instrument for green finance, and provides a review of policy actions and options to promote further market development and growth. Since 2007-08, so-called “green bonds” have emerged and the market has risen...

This study estimates the impact of carbon pricing on international trade in equipment used in the combustion of fossil fuels during the period 1995-2021. Using detailed data on bilateral trade combined with data on domestic carbon prices, we find that carbon pricing policies are associated with...

Products traded internationally account for a large share of global greenhouse gas (GHG) emissions — and thus, the trading system has been widely regarded as a problem with respect to the global response to climate change. Implementing border carbon adjustment mechanisms is widely regarded as...

The EU's Emission Trading Scheme (EU ETS) has been shown to have reduced emissions in the participating countries and industries since its adoption in 2005. However, there is less evidence on the shifting of production outside EU to avoid emission controls. We study this so-called carbon leakage...

We review the state of knowledge concerning international CO emission transfers associated particularly with trade in energy-intensive goods and concerns about carbon leakage arising from climate policies. The historical increase in aggregate emission transfers from developing to developed...