Table 2 Typology of Green Bonds
From: Green bonds issuance: insights in low- and middle-income countries
Green Bond Type | Attribute | Debt recourse |
|---|---|---|
Use-of-Proceeds Bond | Proceeds raised by bond sale are earmarked for green projects in the issuer’s portfolio. | Recourse to the issuer. Entire balance sheet |
Use-of-Proceeds Revenue Bond or ABS | Proceeds raised by bond sale are earmarked for or refinances green projects | Recourse is limited to an issuer’s pledged revenue streams. |
Project Bond | Proceeds raised by bond sale are earmarked for a specific project. | Recourse is restrained to the project’s assets and balance sheet |
Securitisation (ABS) Bond | Proceeds raised by bond sale are pooled are earmarked for green projects | Recourse is to a group of projects that have been grouped together |
Covered Bond | Proceeds raised by bond sale are earmarked for eligible projects included in the covered pool | Recourse either to the issuing entity or to an affiliated group to which the issuing entity belongs and to a pool of collateral that is separate from the issuer’s other assets |
Loan | Proceeds raised by bond sale are earmarked for eligible projects or secured on eligible assets | Recourse is full to the borrower in the case of unsecured loans. Recourse to the collateral in the case of secured loans |