Figure 1
The image contains seven line graphs depicting the evolution of green and conventional bond returns over time. Each graph shows the performance of different bond indices from 2014 to 2022. Panel A, titled S&P GREEN BOND INDEX, shows a line graph with the y-axis ranging from -0.08 to 0.08 and the x-axis spanning from 2014 to 2022. Panel B, titled S&P GREEN BND SELECT INDEX, displays a line graph with the y-axis ranging from -0.08 to 0.06 and the x-axis spanning from 2014 to 2022. Panel C, titled S&P US MUNI GREEN BOND INDEX, shows a line graph with the y-axis ranging from -0.06 to 0.04 and the x-axis spanning from 2014 to 2022. Panel D, titled S&P 500 COMPOSITE, displays a line graph with the y-axis ranging from -0.15 to 0.15 and the x-axis spanning from 2014 to 2022. Panel E, titled S&P 500 ENERGY BOND INDEX, shows a line graph with the y-axis ranging from -0.15 to 0.15 and the x-axis spanning from 2014 to 2022.Evolution of green and conventional bond returns