Environmental dimension of sustainable finance in Latin America: lessons for Bolivia
DOI:
https://doi.org/10.35319/lajed.2023esp302Keywords:
Sustainable Finance, Taxonomy, Green Bonds, Climate Change, ESGAbstract
Bolivia is challenged by the global issues and by its local needs. This document seeks to learn from the lessons of the region in the transit of the last 12 years of sustainable finance. To do this, the International Monetary Fund’s database on green bonds is reviewed and the lessons of Chile, Brazil, and Mexico, which are the largest issuers of green bonds in the region, are obtained. Three groups are identified that group the lessons and challenges that Bolivia can consider when advancing in the progress of sustainable finance. First, seek macroeconomic stability, especially in the relationship between debt and fiscal policy. Second, to be coherent in the formulation and fulfillment of environmental objectives, and third, to improve both economic and environmental institutions that allow for effective and credible regulation over time.
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