Green Bonds and Sustainability in OECD Countries: A GMM Approach

By : Sudha Swaroop , Himadri Srivastava , Richa Sinha

Page No: 344-354

Abstract
Green bonds play an increasingly important role in mobilising financial resources for environmentally friendly investments. This study examines the contribution of green bonds to achieving the Sustainable Development Goals (SDGs), with a focus on climate action measured through CO₂ emissions per capita and renewable energy production per capita in 14 OECD countries. Using daily green bond trading data from January 30, 2017 to August 1, 2023, the study applies a one-step Generalised Method of Moments (GMM) approach. The results reveal a negative relationship between green bond issuance and CO₂ emissions, and a positive relationship with renewable energy production, highlighting green bonds as a key instrument for sustainability.

Authors
Sudha Swaroop, G. L. Bajaj Institute of Technology and Management, Greater Noida, UP, India.
Himadri Srivastava, SGSU, Bhopal, MP, India.
Richa Sinha, ABES Business School, Ghaziabad, UP, India.
 

DOI: https://doi.org/10.32381/PROD.2026.66.04.03