Abstract
ABSTRACT The rising demand for electricity and climate change issues associated with conventional sources has raised the need for renewable energy. With limited scope from traditional sources of finance, green bonds provide an alternative and innovative market for green financing. This study aims to critically analyse, for the first time, the status of the green bond market system in six economically diverse Asian countries and identify the current enablers and inhibitors for its growth. It is found that the lack of formal institutional set-up, domestic bond economy, developing stages of the capital bond market with limited private participation and lack of international certification impedes the development of green bond market. Deepening of capital markets like in the case of developed countries will help in tapping both domestic and international investors while simultaneously aligning with global commitment towards climate change issues.
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