Investigating solutions for the development of a green bond market: Evidence from analytic hierarchy process

Abstract

Green bonds are an important financial tool for funding environmental projects through a low-carbon financing approach. This study aims to investigate various solutions for the development of the green bond market in Vietnam, which the country is currently trying to establish as an effective investment channel to finance low–carbon projects. The study's major results revealed that the presence of an efficient legal framework for green bond operations, monetary policies of the State Bank of Vietnam, and the official interest rate of green bonds are important accelerators the country can utilize to strengthen its green bond market.