E&M
2022/3
Contents
Editorial
Dossier. Seas&Mountains
Technology and Sustainability Take a Cruise
Tradition and Innovation for Luxury Boating
Threats and Opportunities for the Fishing Industry
Mountain Tourism in Transition
Visual readings
Focus. Sustainable Finance
Sustainable Finance. Why It Has to Change
ESG Rating and Credit: How to Assess Integrated Risk
The Impact of Sustainability on the Cost of Capital
Accelerating the Transition: Financial Services Must Also Do Their Part
The Creation of Value through Sustainable Debt Instruments
Social Responsibility, Environmental Sustainability, and ESG Ratings in Italian SMEs
Environmental Economics
Extraordinary finance
Economy, work and organisations
Competition and markets
The Protection of the Creativity of Chefs in the Haute Cuisine Sector
The Creation of Value through Sustainable Debt Instruments
Sustainable debt instruments, and in particular green bonds, sustainability-linked bonds, and green loans, represent an innovative, constantly-growing solution to finance business activities and projects. These instruments are characterized by the possible presence of the so-called greenium, the negative premium that debt subscribers are willing to pay the issues for those instruments. Although the presence of the greenium seems to be a factor common to many sustainable debt instruments, it does not have a solid basis in reduction of the risk profile, but rather in investor preferences.