Autore
Ceriana, Ilaria

Titolo
I green bond e le sfide normative della regolazione pubblica. Il nuovo Regolamento europeo sulle obbligazioni verdi
Periodico
Osservatorio del diritto civile e commerciale
Anno: 2025 - Fascicolo: 2 - Pagina iniziale: 433 - Pagina finale: 457

This paper investigates the role of public regulation in strengthening green bonds as instruments for pursuing investors’ non-financial interests. The analysis focuses on the evolution of the international and supranational sustainable debt market, with particular attention to Regulation (EU) 2023/2631. The study specifically investigates the strengths and weaknesses of the new European framework on green bonds, in light of the principal voluntary standards and soft law instruments that have emerged at the international level, as well as the main legislative policy options available to the EU legislator in the run-up to the entry into force of Regulation (EU) 2023/2631. By providing a systematic legal classification of green bonds within the broader international and supranational regulatory landscape, the paper retraces the evolution of the notion of green bonds as it has taken shape in the sustainable finance market, and devotes particular attention to the definitional scope of the term for the purposes of applying the recently enacted European Regulation. In view of the widespread global diffusion of green bonds as debt instruments designed to promote a form of «sustainable success», this contribution ultimately aims to capture the current regulatory approach at the EU level, identify the critical issues emerging from the legal text, and analyse the ongoing role of voluntary, private-sector standards in supporting best practices in green bond issuance.



SICI: 2281-2628(2025)2<433:IGBELS>2.0.ZU;2-M
Testo completo: https://www.rivisteweb.it/download/article/10.4478/119068
Testo completo alternativo: https://www.rivisteweb.it/doi/10.4478/119068

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