EMISIJA ZELENIH OBVEZNICA U FUNKCIJI BRŽEG RAZVOJA ZELENE EKONOMIJE U BOSNI I HERCEGOVINI / ISSUANCE OF GREEN BONDS AS A FUNCTION OF FASTER DEVELOPMENT OF THE GREEN ECONOMY IN BOSNIA AND HERZEGOVINA

Abstract

The reason for writing our paper is to present the possibilities for accelerating the development of the green economy in Bosnia and Herzegovina by utilizing domestic financial resources that remain unused by businesses and the population. These funds could be put into function to accelerate the development of the green economy by having entity governments issue green bonds. The focus of issuing green bonds would be exclusively on financing projects of companies and individuals that promote the development of green projects. By issuing green bonds, financial resources intended to stimulate the green economy would, in addition to the regular interest rate, carry a yield, i.e., an addition to the average (commercial) interest rate, which would be additionally secured by the entity government. The motivation for domestic investors would be to invest their funds in purchasing green bonds. This would directly influence the increased collection of financial resources for financing green projects. In our country, several green economy projects have already been initiated. These projects are currently in the implementation phase but do not have significant financial support from domestic governmental and non-governmental institutions and organizations. The issuance and implementation of green bonds would lead to a shift in the current approach to financing green projects, which would directly contribute to the accelerated development of the green economy in Bosnia and Herzegovina.