The importance of the Greenium: experimental evidence on the role of certifications

Eurasian Economic Review - Trang 1-28 - 2024
Annarita Colasante1, Andrea Morone1, Piergiuseppe Morone2
1Department of Law and Economics, UnitelmaSapienza, University of Rome, Rome, Italy
2Deparment of Economics, Management and Business Law, University of Bari, Bari, Italy

Tóm tắt

This study explores the impact of certification on decisions to invest in green bonds. Utilizing a laboratory experiment, we evaluate how different levels of certificate reliability stimulate investments in green bonds, particularly in the context of a green premium. The findings corroborate our hypothesis, showing that reliable certification encourages investors to accept lower returns in exchange for the conservation of natural resources. Importantly, reliable certification may counteract the decline in investments caused by “greenwashing” practices. Consequently, the establishment of a unified and dependable certification system may be crucial to ensure the green attributes sought by investors.

Tài liệu tham khảo

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