Publication:
Riding the Wave: Navigating the ESG Landscape for Sovereign Debt Managers

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dc.contributor.authorBoitreaud, Sebastien
dc.contributor.authorGratcheva, Ekaterina M.
dc.contributor.authorGurhy, Bryan
dc.contributor.authorPaladines, Cindy
dc.contributor.authorSkarnulis, Andrius
dc.date.accessioned2020-10-27T19:21:50Z
dc.date.available2020-10-27T19:21:50Z
dc.date.issued2020-10-22
dc.description.abstractThe world is on an unsustainable path. Financial sector participants are becoming more conscious of the impact of their economic, social and environmental footprint. As the investor community makes progress towards integrating environment, social and governance (ESG) factors into investment mandates, particularly for equities and corporate debt, integrating these factors into the sovereign debt asset class has lagged- although investment practices and approaches are evolving. As the financial ecosystem changes, the Debt Management Office (DMO), as the main financing arm of the state, would benefit greatly from understanding how these changes affect the core Public Debt Management (PDM) mandate and how to respond to the growing investor demand for sustainable finance. The paper presents an overview of areas in which DMOs can respond to the changing world and proposes six ESG market readiness factors as well as a framework to help formulate DMO strategy in the area of ESG investing. The paper also concludes that in less developed markets, given weak institutional arrangements, it is often better to concentrate development efforts on the local capital market as this will ultimately support a more sustainable economy in the long run.en
dc.identifierhttp://documents.worldbank.org/curated/en/186931603441706045/Riding-the-Wave-Navigating-the-ESG-Landscape-for-Sovereign-Debt-Managers
dc.identifier.doi10.1596/34673
dc.identifier.urihttps://hdl.handle.net/10986/34673
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesEquitable Growth, Finance and Institutions Insight;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectSOVEREIGN DEBT
dc.subjectGREEN BONDS
dc.subjectCENTRAL BANK
dc.subjectENVIRONMENTAL SUSTAINABILITY
dc.subjectEQUITABLE GROWTH
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectPUBLIC DEBT MANAGEMENT
dc.titleRiding the Waveen
dc.title.subtitleNavigating the ESG Landscape for Sovereign Debt Managersen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleRiding the Wave
okr.date.disclosure2020-10-23
okr.doctypePublications & Research
okr.doctypePublications & Research::Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/186931603441706045/Riding-the-Wave-Navigating-the-ESG-Landscape-for-Sovereign-Debt-Managers
okr.guid186931603441706045
okr.identifier.doi10.1596/34673
okr.identifier.externaldocumentum090224b087f23f36_3_0
okr.identifier.internaldocumentum32510837
okr.identifier.report153833
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/186931603441706045/pdf/Riding-the-Wave-Navigating-the-ESG-Landscape-for-Sovereign-Debt-Managers.pdfen
okr.topicEnvironment::Green Issues
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::International Financial Markets
okr.topicFinance and Financial Sector Development::Strategic Debt Management
okr.topicPublic Sector Development::Public Financial Management
okr.unitEFI-FCI-Long-Term Finance (EFNLT)
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