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Advisor(s)
Abstract(s)
A comunidade financeira tem vindo, progressivamente, a reconhecer a
importância do movimento Environmental, Social and Governance (“ESG”).
Contudo, já não é suficiente que as sociedades se foquem exclusivamente na
prossecução do lucro; devendo, também, prosseguir objetivos de sustentabilidade. Esta mudança de paradigma abriu portas ao desenvolvimento, no âmbito das finanças sustentáveis, de novas iniciativas e produtos financeiros, nomeadamente as green bonds, as social bonds, as sustainability-linked bonds, os green loans, os sustainability linkedloans e os social loans. Esta dissertação procede a uma análise sistemática das modalidades de financiamento e respetivos aspetos estruturais e perturbações contratuais, como instrumentos para alcançar uma economia hipocarbónica. O progresso nesta área, no entanto, ainda está num estágio inicial de desenvolvimento. Consequentemente, avanços regulatórios e legislativos são, mais do que nunca, necessários para que se atinjam progressos significativos na transição para um futuro mais sustentável.
The financial community has increasingly recognized the importance of the Environmental, Social, and Governance (“ESG”) movement. However, it is no longer sufficient for companies to focus exclusively on the pursuit of profit; they must also pursue sustainability goals. This shift in paradigm has led to the emergence of new financial initiatives and products within the sustainable finance scope, such as green bonds, social bonds, sustainability-linked bonds, green loans, sustainability linked-loans and social loans. This thesis provides a systematic analysis of financing modalities, their structural aspects, and contractual disruptions, as instruments to achieve a low-carbon economy. Despite some progress in this area, it is still in its early stages of development. Therefore, regulatory and legislative breakthroughs are required more than ever if significant progress is to be made in the transition to a more sustainable future.
The financial community has increasingly recognized the importance of the Environmental, Social, and Governance (“ESG”) movement. However, it is no longer sufficient for companies to focus exclusively on the pursuit of profit; they must also pursue sustainability goals. This shift in paradigm has led to the emergence of new financial initiatives and products within the sustainable finance scope, such as green bonds, social bonds, sustainability-linked bonds, green loans, sustainability linked-loans and social loans. This thesis provides a systematic analysis of financing modalities, their structural aspects, and contractual disruptions, as instruments to achieve a low-carbon economy. Despite some progress in this area, it is still in its early stages of development. Therefore, regulatory and legislative breakthroughs are required more than ever if significant progress is to be made in the transition to a more sustainable future.
Description
Keywords
Finanças sustentáveis ESG Green loans Sustainability linked-loans Social loans Green bonds Social bonds Sustainability-linked bonds Greenwashing Sustainable finance