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Does the issue of green bonds match EDP´s needs for transition to a low-carbon economy?
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Autores
Orientador(es)
Resumo(s)
Nowadays, there is a global threat affecting the planet - climate change - and the world has realized that it is necessary to change behaviours in order to fight against it. The energy sector is considered one of the main vehicles for decarbonization through the use of renewable energies rather than coal and oil, as they represent 40% of CO2 emissions. This business case provides a look inside EDP, one of the largest utilities, and the financing solution they found to achieve the goal of transitioning to a low-carbon economy, taking into account that renewable energy infrastructures (fundamental to this transition) require large amounts of investment with long maturities. Green bonds emerged in order to raise funds for eligible green projects and thus try to replace non-renewable sources, such as oil and coal. Over the last few years, there has been a significant increase in the issuance of green bond and in the number of investors interested in financing green projects, as a result of an increase in global environmental awareness. The purpose of this business case was to find out if green bond issues match the company's main strategic goals. After detailed analysis of the company's strategies, financial and operational ratios, as well as official public documents, the conclusion was that green bond issues really do match the company's financing needs and sustainability strategy towards the transition to a more sustainable economy, and the two main strategic goals: growth and financial risk control.
Descrição
Mestrado Bolonha em Finanças
Palavras-chave
Green Finance Green Bonds Climate Change Deleveraging Credit Ratings EDP
Contexto Educativo
Citação
Antunes, João Carlos Santos (2021). "Does the issue of green bonds match EDP´s needs for transition to a low-carbon economy?". Dissertação de Mestrado, Universidade de Lisboa. Instituto Superior de Economia e Gestão.
Editora
Instituto Superior de Economia e Gestão