Дългови инструменти за финансиране на устойчиво икономическо развитие на ЕС
Debt Instruments for Financing Sustainable Economic Development in the European Union

Author(s): Svetlana Aleksandrova-Zlatanska, Silvia Kirova, Stefan Petrov
Subject(s): Politics / Political Sciences, Politics, Social Sciences, Economy, Business Economy / Management, Governance, Sociology, Economic policy, Policy, planning, forecast and speculation, Political Ecology, Environmental interactions, EU-Approach / EU-Accession / EU-Development, Green Transformation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: sustainable development; debt financing; green transition; green bonds; debt market
Summary/Abstract: This monograph examines debt financing as a strategic policy instrument for supporting the green transition, integrating theoretical foundations, financial mechanisms, and practical applications. It emphasises the rapid expansion of sustainable finance at the global level and underscores the critical role of coordinated public and private investment in mitigating climate risks and achieving long-term environmental and climate policy objectives. The analysis focuses on financing needs related to the green transition, the limitations of the EU budget, and the growing importance of innovative policy-driven financing mechanisms, including guarantee schemes and the issuance of green, social, and sustainable bonds. A detailed study of the development of the sustainable debt instruments market is presented, examining their key characteristics, transparency and accountability standards, as well as the sectoral allocation of financing, including clean energy, transport, waste management, and technological innovation. Special attention is given to blended finance as a policy tool that combines public and private resources to enhance risk-sharing, leverage investment, and mobilise funding for climate-neutral and environmentally sustainable economic activities. The empirical analysis evaluates the effectiveness of debt-based sustainable finance instruments in supporting climate and energy policy objectives, focusing on their impact on energy consumption, greenhouse gas emissions, and climate change adaptation, using advanced econometric models. The results indicate that sustainable bonds significantly contribute to lower greenhouse gas emissions and higher energy efficiency. This empirical evidence supports a stronger role for sustainable debt instruments in EU climate and energy policies and their deeper integration into the European policy framework for decarbonisation and climate neutrality.

• Details
• Contents