Decentralised Green Bonds: A Framework for Financing Climate-Resilient Infrastructure in Emerging Economies through Localised Issuance and Blockchain Innovation

Abstract

Access to financing remains a substantial obstacle to climate-resilient infrastructure, which is critical for sustainable development in emerging economies. Despite their widespread appeal, green bonds are typically issued through centralised procedures, limiting the participation of local groups and smaller municipalities. To fund local climate projects, this paper proposes a decentralised green bond concept in which regional authorities, cooperatives, and city governments issue block chain-enabled bonds. The study uses qualitative analysis and comparative case studies to identify governance, legislative, and technological enablers for decentralised issuance. The results suggest that such a method can boost openness and investor confidence while closing the financial gap for climate adaptation. To put decentralised green bond frameworks into action, the paper makes policy recommendations to regulators, development banks, and local governments.