Σχολή Οικονομικών Επιστημών
Μόνιμο URI για αυτήν την κοινότηταhttps://pyxida.aueb.gr/handle/123456789/58
Η Σχολή Οικονομικών Επιστημών περιλαμβάνει τα Τμήματα: - Τμήμα Οικονομικής Επιστήμης - Τμήμα Διεθνών και Ευρωπαϊκών Οικονομικών Σπουδών.
Περιήγηση
Πλοήγηση Σχολή Οικονομικών Επιστημών ανά Συγγραφέα "Andriopoulos, Georgios"
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Τεκμήριο Green finance and the impact of green bonds(03/14/2022) Andriopoulos, Georgios; Ανδριόπουλος, Γεώργιος; Athens University of Economics and Business, Department of International and European Economic Studies; Economides, George; Pagratis, Spyros; Topaloglou, NikolaosThe purpose of this dissertation is to show how green finance investments can have a positive impact on the environmental while at the same time providing the investor with a great amount of profit. In the beginning of this thesis, I present various environmental challenges that we face today, and I discuss the main economy sectors that are behind the environmental change. After that I provide certain renewable energy solutions and discuss the role of green finance in transitioning to a low carbon climate resilient economy. It is in this part that I talk about the main instruments that can help facilitate this transition which are green bonds. I explain exactly what a green bond is by providing certain principles that the bond must align with to be considered green. In continuation to that I conducted a comparison between green bonds and conventional bonds to see the advantages and disadvantages of each instrument and I researched further the green bond market. I ended up founding 3 key Countries-Unions that are involved in this market (US, EU and China) and I also found certain green bond ETFs-Indices that best represent those 3 regions. I then proceeded to find the risk of each market by using the simple historical simulation approach to calculate the VaR and Es of each of the 3 ETFS-Indices. Finally, I combined all three indices into one portfolio with the goal to minimize the volatility of the portfolio and to have a guarantee yearly return of 4%. I again found the risk of this portfolio using the simple historical simulation approach to calculate the VaR and Es of the portfolio. The result confirms that this green portfolio can be comparable in terms of return to other similar low risk investments and sometimes it can offer a better return while at the same time having a positive environmental impact.