{"id":37446,"date":"2025-08-27T21:00:04","date_gmt":"2025-08-27T19:00:04","guid":{"rendered":"https:\/\/www.co2news.sk\/?p=37446"},"modified":"2025-08-27T21:03:33","modified_gmt":"2025-08-27T19:03:33","slug":"zelene-dlhopisy-pohon-udrzatelneho-rastu-a-financovanie-ekologickych-projektov","status":"publish","type":"post","link":"https:\/\/www.co2news.sk\/ar\/2025\/08\/27\/zelene-dlhopisy-pohon-udrzatelneho-rastu-a-financovanie-ekologickych-projektov\/","title":{"rendered":"\u0627\u0644\u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0636\u0631\u0627\u0621: \u062f\u0641\u0639 \u0627\u0644\u0646\u0645\u0648 \u0627\u0644\u0645\u0633\u062a\u062f\u0627\u0645 \u0648\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0645\u0634\u0627\u0631\u064a\u0639 \u0627\u0644\u062e\u0636\u0631\u0627\u0621"},"content":{"rendered":"<p>\u0623\u0635\u0628\u062d\u062a \u0627\u0644\u0633\u0646\u062f\u0627\u062a \u0627\u0644\u062e\u0636\u0631\u0627\u0621 <strong>\u062d\u062c\u0631 \u0627\u0644\u0632\u0627\u0648\u064a\u0629 \u0641\u064a \u0627\u0644\u062c\u0647\u0648\u062f \u0627\u0644\u0648\u0637\u0646\u064a\u0629 \u0627\u0644\u0631\u0627\u0645\u064a\u0629 \u0625\u0644\u0649 \u0627\u0642\u062a\u0635\u0627\u062f \u0645\u0646\u062e\u0641\u0636 \u0627\u0644\u0643\u0631\u0628\u0648\u0646 \u062d\u0643\u064a\u0645 \u0648\u0645\u0633\u062a\u062f\u0627\u0645<\/strong>. \u0647\u062f\u0641\u0647\u0645 \u0627\u0644\u0623\u0633\u0627\u0633\u064a \u0647\u0648 \u062d\u0634\u062f \u0645\u0648\u0627\u0631\u062f \u0631\u0623\u0633\u0645\u0627\u0644\u064a\u0629 \u0648\u0627\u0633\u0639\u0629 \u0627\u0644\u0646\u0637\u0627\u0642 \u0645\u0646 \u0623\u062c\u0644 \u0645\u0634\u0627\u0631\u064a\u0639 \u0635\u062f\u064a\u0642\u0629 \u0644\u0644\u0628\u064a\u0626\u0629 <!--more-->projekty, \u010d\u00edm <strong>poh\u00e1\u0148aj\u00fa udr\u017eate\u013en\u00fd rast<\/strong>. S\u00fa k\u013e\u00fa\u010dov\u00fdm n\u00e1strojom na preklenutie finan\u010dnej medzery v udr\u017eate\u013enom rozvoji, ke\u010f\u017ee n\u00e1rod posil\u0148uje svoj z\u00e1v\u00e4zok vo\u010di ochrane kl\u00edmy.<\/p>\n<p><strong>\u010co s\u00fa zelen\u00e9 dlhopisy?<\/strong><\/p>\n<p>Jednoducho povedan\u00e9, zelen\u00e9 dlhopisy s\u00fa <strong>dlhov\u00e9 cenn\u00e9 papiere \u0161peci\u00e1lne navrhnut\u00e9 na financovanie aktiv\u00edt, ktor\u00e9 prispievaj\u00fa k vytv\u00e1raniu pozit\u00edvnych ekologick\u00fdch dopadov<\/strong>. Medzi tieto aktivity patria napr\u00edklad:<\/p>\n<ul>\n<li>Obnovite\u013en\u00e9 zdroje energie<\/li>\n<li>Energetick\u00e1 \u00fa\u010dinnos\u0165<\/li>\n<li>Infra\u0161trukt\u00fara odoln\u00e1 vo\u010di zmene kl\u00edmy<\/li>\n<\/ul>\n<p><strong>Ako zelen\u00e9 dlhopisy smeruj\u00fa finan\u010dn\u00e9 prostriedky do zelen\u00fdch projektov?<\/strong><\/p>\n<p>Zelen\u00e9 dlhopisy funguj\u00fa podobne ako tradi\u010dn\u00e9 dlhopisy, av\u0161ak prich\u00e1dzaj\u00fa s <strong>jasne stanoven\u00fdmi environment\u00e1lnymi mand\u00e1tmi<\/strong>. Kapit\u00e1l z\u00edskan\u00fd prostredn\u00edctvom t\u00fdchto \u00faverov\u00fdch n\u00e1strojov mus\u00ed by\u0165 <strong>v\u00fdhradne alokovan\u00fd len na zelen\u00e9 projekty<\/strong>. Oblasti, ktor\u00e9 sa zvy\u010dajne financuj\u00fa, zah\u0155\u0148aj\u00fa:<\/p>\n<ul>\n<li><strong>Ve\u013ek\u00e9 in\u0161tal\u00e1cie obnovite\u013enej energie<\/strong>, ako s\u00fa sol\u00e1rne a vetern\u00e9 farmy.<\/li>\n<li>Moderniz\u00e1cia budov a priemyseln\u00fdch procesov na <strong>\u00fasporu energie<\/strong>.<\/li>\n<li>Elektrifik\u00e1cia a zni\u017eovanie emisi\u00ed <strong>verejnej dopravy<\/strong>.<\/li>\n<li><strong>Udr\u017eate\u013en\u00e9 syst\u00e9my riadenia vody a odpadu<\/strong>.<\/li>\n<li>Zlep\u0161enie <strong>odolnosti mestskej infra\u0161trukt\u00fary vo\u010di zmene kl\u00edmy<\/strong>.<\/li>\n<li>Investi\u010dn\u00e9 strat\u00e9gie zameran\u00e9 na <strong>zni\u017eovanie zne\u010distenia ovzdu\u0161ia, vody a p\u00f4dy<\/strong>.<\/li>\n<\/ul>\n<p><strong>Atraktivita pre investorov a s\u00fa\u010dasn\u00fd trh<\/strong><\/p>\n<p>Tento typ cielen\u00e9ho financovania sa mimoriadne p\u00e1\u010di investorom, ktor\u00ed <strong>prioritizuj\u00fa krit\u00e9ri\u00e1 environment\u00e1lne, soci\u00e1lne a riadiace (ESG)<\/strong>. Pril\u00e1ka dom\u00e1ci aj glob\u00e1lny z\u00e1ujem a kapit\u00e1l do n\u00edzkouhl\u00edkov\u00fdch projektov. Pod\u013ea spr\u00e1vy <em>\u0631\u0648\u064a\u062a\u0631\u0632<\/em> sa dve indick\u00e9 \u0161t\u00e1tne spolo\u010dnosti, NHPC a NTPC Green Energy, sna\u017eia z\u00edska\u0165 pribli\u017ene <strong>45 mili\u00e1rd indick\u00fdch rupi\u00ed (pribli\u017ene 512,6 mili\u00f3na USD)<\/strong>. Tieto prostriedky maj\u00fa by\u0165 z\u00edskan\u00e9 prostredn\u00edctvom kr\u00e1tkodob\u00fdch emisi\u00ed dlhopisov. Hydrosyst\u00e9mov\u00e1 spolo\u010dnos\u0165 NHPC pl\u00e1nuje vyda\u0165 dvoj- a\u017e trojro\u010dn\u00e9 dlhopisy v hodnote pribli\u017ene 20 mili\u00e1rd rupi\u00ed. NTPC Green Energy, dc\u00e9rska spolo\u010dnos\u0165 NTPC, debutuje na trhu dlhopisov s cie\u013eom z\u00edska\u0165 20 a\u017e 25 mili\u00e1rd rupi\u00ed prostredn\u00edctvom p\u00e4\u0165ro\u010dn\u00fdch dlhopisov a m\u00f4\u017ee zv\u00e1\u017ei\u0165 aj desa\u0165ro\u010dn\u00e9 dlhopisy v z\u00e1vislosti od z\u00e1ujmu investorov. Obe organiz\u00e1cie sa zameriavaj\u00fa na kr\u00e1tkodob\u00e9 dlhopisy kv\u00f4li aktu\u00e1lne ni\u017e\u0161\u00edm sadzb\u00e1m a priazniv\u00fdm rozp\u00e4tiam v\u00fdnosov. NHPC u\u017e v m\u00e1ji z\u00edskala 19,45 miliardy rupi\u00ed prostredn\u00edctvom dlhodob\u00fdch dlhopisov so splatnos\u0165ou 6 a\u017e 15 rokov. O\u010dak\u00e1va sa, \u017ee v\u00fdnosy z kr\u00e1tkodob\u00fdch dlhopisov sa bud\u00fa \u010falej zni\u017eova\u0165 po rozhodnut\u00ed menovej politiky RBI, \u010do by mohlo zv\u00fd\u0161i\u0165 dopyt po dlhopisoch.<\/p>\n<p><strong>V\u00fdzvy pri vyd\u00e1van\u00ed zelen\u00fdch dlhopisov<\/strong><\/p>\n<p>Trh so zelen\u00fdmi dlhopismi \u010del\u00ed aj v\u00fdzvam. V j\u00fani 2025 Reserve Bank of India (RBI) <strong>zru\u0161ila aukciu 30-ro\u010dn\u00fdch suver\u00e9nnych zelen\u00fdch dlhopisov v hodnote 5 000 crore rupi\u00ed<\/strong>, napriek tomu, \u017ee dostala ponuky presahuj\u00face 10 943 crore rupi\u00ed. D\u00f4vodom bolo, \u017ee <strong>o\u010dak\u00e1vania v\u00fdnosov prekonali komfortn\u00fa \u00farove\u0148 RBI<\/strong>, ovplyvnen\u00e9 faktormi ako oslabuj\u00faca sa rupia a rast\u00face ceny ropy. I\u0161lo o druh\u00fd pr\u00edpad zru\u0161enia v roku 2025. Tieto zru\u0161enia s\u00fa <strong>jasn\u00fdm znakom volatility trhu a v\u00fdrazn\u00e9ho nes\u00faladu medzi o\u010dak\u00e1van\u00fdm &#8222;greenium&#8220; RBI a skuto\u010dn\u00fdmi a\u0161pir\u00e1ciami investorov na v\u00fdnosy<\/strong>. Napriek t\u00fdmto \u0165a\u017ekostiam v\u0161ak komun\u00e1lne zelen\u00e9 dlhopisy na\u010falej pon\u00fakaj\u00fa lukrat\u00edvne mo\u017enosti upisovania pre miestne zelen\u00e9 infra\u0161trukt\u00farne a rozvojov\u00e9 projekty.<\/p>\n<p><strong>Bud\u00facnos\u0165 zelen\u00fdch dlhopisov v krajine<\/strong><\/p>\n<p>Trh so zelen\u00fdmi dlhopismi v krajine je nastaven\u00fd na <strong>stabiln\u00fd rast<\/strong>, podporen\u00fd vyv\u00edjaj\u00facimi sa regul\u00e1ciami, rast\u00facim z\u00e1ujmom investorov a diverzifik\u00e1ciou udr\u017eate\u013en\u00fdch projektov. \u00dasilie je zameran\u00e9 na <strong>roz\u0161\u00edrenie p\u00f4sobnosti nad r\u00e1mec energetiky<\/strong> do oblast\u00ed, ako s\u00fa udr\u017eate\u013en\u00e9 po\u013enohospod\u00e1rstvo, cenovo dostupn\u00e9 b\u00fdvanie a mestsk\u00fd rozvoj. Posilnenie transparentnosti a d\u00f4veryhodnosti v r\u00e1mcoch zelen\u00fdch dlhopisov m\u00e1 za cie\u013e <strong>budova\u0165 d\u00f4veru investorov a podporova\u0165 dlhodob\u00e9 ciele v oblasti kl\u00edmy a udr\u017eate\u013enosti<\/strong>. <em><strong>\u062c\u064a\u0647 \u0622\u0631 \u0622\u064a<\/strong><\/em><\/p>\n<hr \/>\n<p><em>Upozornenie: Tento \u010dl\u00e1nok je ur\u010den\u00fd v\u00fdhradne na informa\u010dn\u00e9 \u00fa\u010dely a nemal by sa pova\u017eova\u0165 za investi\u010dn\u00e9 poradenstvo. \u010citate\u013eom sa odpor\u00fa\u010da vyh\u013eada\u0165 poradenstvo u certifikovan\u00fdch finan\u010dn\u00fdch poradcov a vykona\u0165 nez\u00e1visl\u00fd prieskum pred investovan\u00edm do zelen\u00fdch dlhopisov.<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Zelen\u00e9 dlhopisy sa stali z\u00e1kladn\u00fdm kame\u0148om n\u00e1rodn\u00e9ho \u00fasilia smerom k rozv\u00e1\u017enej a udr\u017eate\u013enej n\u00edzkouhl\u00edkovej ekonomike. Ich prim\u00e1rnym cie\u013eom je mobilizova\u0165 rozsiahle kapit\u00e1lov\u00e9 zdroje pre environment\u00e1lne priazniv\u00e9<\/p>","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-37446","post","type-post","status-publish","format-standard","hentry","category-uhlikova_gramotnost"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/posts\/37446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/comments?post=37446"}],"version-history":[{"count":0,"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/posts\/37446\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/media?parent=37446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/categories?post=37446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.co2news.sk\/ar\/wp-json\/wp\/v2\/tags?post=37446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}