Climate change has driven the market to seek new ways of raising funds to mitigate its effects. One such innovation is the emergence of Green Bonds financial assets specifically designed to support sustainable projects. This study explores the fractal behavior of daily price changes in thirty-five Green Bond funds using the Multifractal Detrended Fluctuation Analysis (MFDFA) method. Our results indicate that price changes exhibit persistent behavior and high multifractality, characterized by large fluctuations. Only one of the thirty-five time series analyzed showed an outlier result, suggesting that the funds display very similar behavior. By shuffling the series, we were able to reduce multifractality significantly. These findings suggest that Green Bond funds exhibit multifractal behavior typical of other financial assets.

翻译：气候变化促使市场寻求新的融资方式来缓解其影响。其中一项创新是专门为支持可持续项目而设计的绿色债券金融资产的出现。本研究采用多重分形去趋势波动分析（MFDFA）方法，探究了三十五只绿色债券基金每日价格变动的分形行为。结果表明，价格变动表现出持续性行为和高度的多重分形性，其特征为大幅波动。在分析的三十五个时间序列中，仅有一个显示出异常结果，表明这些基金的行为非常相似。通过对序列进行随机重排，我们能够显著降低多重分形性。这些发现表明，绿色债券基金表现出与其他金融资产典型的多重分形行为。