Post by Mike Brown

I'm very pleased to share this market feasibility study on green and sustainability-linked municipal bonds, commissioned by EBRD and funded by EU DG REGIO. The project was led by Thierry Clarke at InvestorConnected, and I contributed as the green finance expert. The report examines the potential for developing green and sustainability-linked municipal bond markets in Croatia, Czechia, Estonia, Latvia, Lithuania, Poland, and Romania. One of the biggest takeaways for me, especially as someone who spent 16 years as a US muni bond issuer, is how much I took a functioning capital market for granted. In some of these markets, municipalities can't legally issue bonds at all. In others, bank liquidity and long-tenor IFI loans have crowded out bonds. Enabling conditions all need to work together to create a well-functioning municipal bond market. And we have to remember these things don't happen overnight -- the US muni bond market has a 200 year head start. https://lnkd.in/e3K-VScg Additional contributors from InvestorConnected: Richard Jones Colleen Connors Reuben Fenech Elif Özbay Kızılyıldırım Mariné B. Tricia Park Oxana Megglé Sean Kidney Justine Leigh-Bell John Matthews, PhD Darline Tognia Kacou Heike Reichelt Stacy A. Swann Bella Tonkonogy Priscilla Negreiros Eugenie Birch Mauricio Rodas Carlo Ratti Matthew Griffiths Krzysztof Michalak Isabella Neuweg Nelly PETKOVA Kathleen Dominique Lupita Johanson Robert Youngman sujatha.srikumar@gma Srikumar Raja Venkataramani Chris Clubb Paul Horrocks Andy Deacon Alexis Robert Isabelle Chatry (Chatrie) #GreenBonds #MunicipalFinance #ClimateFinance #SustainableFinance