Module 3: Green Finance Products and Services
UO University of Opole
What is published today
The module description, the six topics and the learning outcomes below. The teaching material, slides, companion readers and worked examples, is written by the University of Opole under Work Package 3 and is not published yet. Module 4 shows what a finished module carries, free to use under CC BY 4.0, and the curriculum index holds all five.
The University of Opole hosts the second training week, 20 to 23 October 2026, provisional until the host confirms: Session 2 in full.
Module Overview
This module surveys the full product spectrum of green and sustainable finance, from green bonds and sustainability-linked loans to carbon markets and blended finance vehicles. Students learn to evaluate instruments by their underlying standards, impact measurement methodologies, and structural features, and assess how these products function within ASEAN markets where institutional capacity and regulatory frameworks are still developing.
Learning Outcomes
Upon completing this module, students will be able to:
- Explain green bond standards, impact reporting, and issuance processes
- Compare sustainability-linked loans and bonds with conventional instruments
- Evaluate transition finance instruments and their role in decarbonization
- Assess green equity funds and sustainable investment vehicles
- Analyse blended finance mechanisms for sustainable development in emerging markets
- Describe carbon market structures including compliance and voluntary emissions trading
Topics Covered
1. Green Bonds: Standards, Impact, and Issuance
Pedagogical arc: “Green bonds are the backbone of sustainable capital markets, but standards and impact verification matter enormously.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
2. Sustainability-Linked Finance: Loans and Bonds
Pedagogical arc: “Sustainability-linked instruments tie financing costs to performance targets, aligning incentives rather than restricting use of proceeds.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
3. Transition Finance: Instruments and Frameworks
Pedagogical arc: “Not every sector can go green overnight: transition finance bridges the gap between brown today and green tomorrow.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
4. Green Equity and Sustainable Investment Funds
Pedagogical arc: “Beyond debt markets, equity and fund structures are mobilizing trillions toward sustainable outcomes.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
5. Blended Finance for Sustainable Development
Pedagogical arc: “In emerging markets, commercial capital alone cannot close the sustainability financing gap: blended structures de-risk the private sector’s participation.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
6. Carbon Markets and Emissions Trading
Pedagogical arc: “Carbon markets put a price on pollution: understanding their mechanics is essential for anyone financing the low-carbon transition.”
The Foundation, Intermediate, PhD Research and Quantitative Lab tiers, the ASEAN case study and the reading list for this topic are to be supplied by UO during WP3.
Teaching Methods
| Method | Description | Hours |
|---|---|---|
| Lectures | Product structures, market standards, and regulatory context | 6-8 |
| Workshops | Green bond issuance simulation and carbon credit valuation | 4-5 |
| Data Lab | Sustainable debt market data and product comparison | 4-5 |
| Simulation | Blended finance structuring exercise | 3-4 |
| Self-Study | Prospectus analysis and impact report review | 3-4 |
Assessment
| Component | Weight | Format |
|---|---|---|
| Green Bond Analysis | 30% | Evaluate a green bond issuance against ICMA Green Bond Principles and climate bond standards |
| Product Comparison Report | 40% | Compare a sustainability-linked loan with a conventional loan for an ASEAN issuer |
| Carbon Market Case Study | 30% | Analyse a voluntary carbon credit project in ASEAN and assess its additionality and permanence |
Key References
Required Reading
- ICMA (2021). Green Bond Principles: Voluntary Process Guidelines for Issuing Green Bonds.
- LMA/APLMA/LSTA (2023). Sustainability-Linked Loan Principles.
- Climate Bonds Initiative (2024). State of the Market: ASEAN Sustainable Debt.
Recommended Reading
- Fatica, S. & Panzica, R. (2021). Green bonds as a tool against climate change? Business Strategy and the Environment, 30(5), 2688-2703.
- OECD (2022). Transition Finance for Transforming Companies.
- Convergence (2023). The State of Blended Finance 2023.
How this connects to the other modules
| Related Module | Connection |
|---|---|
| Module 1: Fundamentals | ESG principles inform product design |
| Module 2: Global, EU and ASEAN Contexts | Regulatory context for product markets |
| Module 4: Risk Management | Risk assessment methods evaluate product risk |
| Module 5: Green Reporting | Product-level disclosures require reporting standards |
What changes for ASEAN
Local Customization Required
Each ASEAN partner should supplement core content with:
- National green bond frameworks and sovereign green bond issuances
- Country-specific carbon market developments (e.g., Thailand VCES, Philippines carbon registry)
- Local blended finance vehicles and DFI partnerships
- ASEAN Green Bond Standards and regional taxonomy alignment
(c) GREEN FINANCE Consortium 2026