FEATURES OF FINANCIAL INSTRUMENTS OF GREEN BANKING IN THE GLOBAL MARKET OF BANKING SERVICES
Abstract
The article is devoted to topical issues of identifying the role of green financial instruments in the global banking market, the reasons for their emergence, the main types and trends. It has been proved that the most competitive in global coordinates is a network-organized green banking system. This network not only significantly accelerates the accumulation of global capital in green infrastructure, but also significantly facilitates the process of cooperation between private investors and developers with green banks, standardizes the conditions of such cooperation, and increases the transparency of green banking institutions. The article analyzes the main financial instruments of green banking: green bank lending, green mortgages, green bonds, co-investment of green banks, securitization of green bank assets. The analysis of characteristic features and peculiarities of application of these financial instruments has been carried out. Different estimates of the total value of green bank loans and their tendency to increase and against the background of still low share in total lending have been compared. The article evaluates the structure of green and sustainable lending to banking institutions. The existence of rather deep interregional differentiations in the dominant forms, mechanisms and levels of development of the green banking industry has been proved. The author assesses the growing demand for green mortgages as one of the priority instruments of green banking, and emphasizes the objective need to increase the volume of green bonds. The joint investment of green banks and its essence has been described in the article. The author believes that in response to the significant growth in the needs of the global economy in the transition to a model of sustainable development, the securitization of green bank assets has received a powerful impetus. The global trend of development of this financial instrument in the global green loan market has been proved. The author emphasizes the importance of implementing instruments of monetary, monetary and prudential policies that can timely identify threats to the emergence of green credit "bubbles", the concentration of systemic environmental risks in the banking sector.
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Leading European banks for green bonds underwriting in 2019, by value of bonds (in billion U.S. dollars). Statista. The Statistic Portal. Retrieved from: https://www.statista.com/statistics/754872/value-of-green-bonds-issued-by-selected-european-banks/
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