Financial markets for the greener future: the role of green bonds in energy transition. Evidence from Europe

Purpose: The aim of the article is to assess the role of the green bond market in financing investment activities in the field of energy transition. Attention was focused on the European green bond market, considered the most mature and developed market for assets of this class. Design/methodology/approach: Critical analysis of domestic and foreign scientific achievements regarding the development and importance of the green bond market in the energy transition process. Analysis of secondary data from statistical reports showing the state of development and the degree of use of the green bond market in financing energy transition tasks in 2014-2022. Findings: On the basis of the conducted research, it is concluded that the European green bond market is developing quite dynamically, and its structure is dominated by issues of green bonds intended to finance expenditures supporting the energy transition process. Originality/value: The green bond market - due to its relatively short history of operation, high dynamics of value growth and internal diversification process - is a relatively new object of research in economic sciences.