ANALYSIS OF THE ECONOMIC EFFICIENCY OF PROJECTS FINANCED THROUGH GREEN BONDS

This article examines the economic performance of green bond financing projects based on a regional comparative analysis. The study covers Europe, Asia-Pacific, North America, emerging markets, and the Middle East, and is based on data from 2013–2024. The analysis reveals significant regional differences in the green bond “green premium,” financial performance, issuer composition, and the impact of the regulatory environment on performance. The article also identifies key barriers to the development of the green bond market and policy recommendations to address them.本文采用区域比较分析方法，考察绿色债券融资项目的经济绩效。本研究覆盖欧洲、亚太、北美、新兴市场及中东地区，所用数据的时间跨度为2013年至2024年。分析结果表明，绿色债券的绿色溢价（green premium）、财务绩效、发行主体构成以及监管环境对绩效的影响均存在显著的区域差异。此外，本文还明确了绿色债券市场发展面临的核心障碍，并提出了针对性的政策建议以破解这些障碍。