From Promise to Performance: The Environmental Impact of Green Bond Issuance on Corporate Emissions
This thesis examines whether corporate green bond issuance leads to measurable improvements in environmental performance among European firms in high-emitting sectors. Using firm-level panel data from 2015–2022, we match green bond issuers with conventional bond issuers using nearest-neighbour matching with Mahalanobis distance. Employing a difference-in-differences approach, we analyse changes in