Analysis of success-dependent factors of green bonds financing of infrastructure projects in Ghana

Mankata, L.M. and Owusu-Manu, De-Graft and Hosseini, M. Reza and Edwards, D.J. (2020) Analysis of success-dependent factors of green bonds financing of infrastructure projects in Ghana. Journal of Sustainable Finance & Investment. ISSN 2043-0795

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Abstract

Globally, Green Bonds have experienced a fair share of handicaps within the countries of issuance. In lieu of Ghana announcing the possibility of its first green bonds, it is crucial that lessons are taken from past developments to reinforce the prospects of a salutary roll out. This paper explores factors recommended as success-dependent in the Ghanaian markets. A quantitative approach is employed. Twelve factors are extracted from a review of available literature and converted into a questionnaire targeted at professionals in financial institutions. This included, managers, financial analysts, as well as top management personnel. In total 54 questionnaires were distributed. A total of 32 responses are received, proportional to a response rate of 60.37% and was analyzed with relative importance index and one-sample t-test. The results indicate that “Ensuring Good Credit Ratings, Provision of Local Guideline, and Proper Green Qualifications Criteria and Prioritizing Viable Projects” are highest ranked factors. It is important these are incorporated in the framework to be designed for the roll out of green bonds in the Ghana. Considerations should also be made with respect to the culture and state of the financial markets in the country while bringing out the appropriate structure to facilitate the issuances.

Item Type: Article
Identification Number: https://doi.org/10.1080/20430795.2020.1803640
Date: 17 August 2020
Uncontrolled Keywords: Green Bonds, Challenges, Success Factors, Infrastructure Projects, Ghana
Subjects: K900 Others in Architecture, Building and Planning
Divisions: Faculty of Computing, Engineering and the Built Environment > School of Engineering and the Built Environment
Depositing User: Tonks
Date Deposited: 30 Jul 2020 12:54
Last Modified: 21 Aug 2020 10:15
URI: http://www.open-access.bcu.ac.uk/id/eprint/9606

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