Assessing the nexus mechanism between energy efficiency and green finance

Zhang, Dongyang; Awawdeh, Ala Eldin; Hussain, Muhammed Sajjad; Ngo, Thanh Quang; Vu, Hieu Minh

doi:10.1007/s12053-021-09987-4

Cited by 31 publications

(19 citation statements)

References 83 publications

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“…Result of the poor private sector and insufficient financial framework, green finance instruments such as green bonds are useless in developing or less developed economies. For the same reasons as the previous studies, Zhang et al ( 2021a , b ) investigated whether green bonds had any effect on a variety of economic or environmental indicators and came to the conclusion that they had no such effect. Due to the absence of plans in India’s atmosphere action plan, Zhang et al ( 2021b ) concluded that there was no association between green bonds and sustainable development goals.…”

Section: Literature Reviewmentioning

confidence: 89%

RETRACTED ARTICLE: Does green finance mitigate the effects of climate variability: role of renewable energy investment and infrastructure

Mngumi

Sun

Shair

et al. 2022

Environ Sci Pollut Res

160

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Few researches have inspected the task of green finance in reducing CO 2 emissions, while earlier studies have inspected the influence of economic development on carbon emissions. A green finance development index is built using four indicators to fill in this knowledge gap: green credit, green insurance, green securities, and green investing. Using data spanning the years 2005–2019, a panel quantile regression is applied to investigate the links between green finance, renewable energy, and CO 2 emissions. Increases in renewable energy use and advances in the green finance development index have contributed to a reduction in CO 2 emissions from BRICS countries. CO 2 emissions on the other hand slowed the growth of renewable energy use, slowed the flow of investment to green projects, and ultimately hampered the development of green finance. There was also a clear policy-driven influence on renewable energy spending in the countries of the BRICS region. Green finance policies, on the other hand, have consistently failed to have a long-term impact. Therefore, rising the consumption of renewable energy and creating a carbon trading market are all part of this study’s recommendations for green finance policy improvement.

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Section: Literature Reviewmentioning

confidence: 89%

RETRACTED ARTICLE: Does green finance mitigate the effects of climate variability: role of renewable energy investment and infrastructure

Mngumi

Sun

Shair

et al. 2022

Environ Sci Pollut Res

160

View full text Add to dashboard Cite

show abstract

“…Compared to academic circles in other nations, domestic research into green finance theory began later in the United States. There are primarily three representative viewpoints on what it means to do green finance: According to Zhang et al (2021) , green finance is a special financial policy that prioritizes the provision of financial services to environmentally friendly and clean businesses. According to Nawaz et al (2021) , green finance needs the financial industry to safeguard the environment.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Green financial solutions aren’t all the same, and there aren’t as many options as there used to be. Green businesses are hindered because a single product can be defined in various ways ( Zhang et al, 2021 ). ASEAN’s growth has been primarily driven by the green credit and green bond markets.…”

Section: Introductionmentioning

confidence: 99%

Does Green Financing Develop a Cleaner Environment for Environmental Sustainability: Empirical Insights From Association of Southeast Asian Nations Economies

Irfan²

2022

Front. Psychol.

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One of the most frequently used terms in climate change discussions is environmental sustainability. With economic growth and foreign direct investment as moderator factors, this study investigates the influence of green finance and financial development on environmental sustainability and growth in ASEAN economies from 2012 to 2019. ADF and Phillip-Peron (PP) unit root tests, fully modified least square (FMOLS), were employed for long-run empirical estimates. A substantial body of evidence supports the study’s findings using VECM technology. Green financing was negatively associated with CO2 emissions. However, environmental sustainability in ASEAN is favorably associated with green financing. It is also worth noting that green financing promotes environmental sustainability at the expenditure of economic growth. Financial development, foreign direct investment, R&D investment, and green technology foster economic expansion at the price of environmental sustainability. There are still many fences to green finance that need to be addressed, including pricing CO2 emissions and reforming inefficient nonrenewable fossil fuel subsidies. Local governments play a vital role in eliminating these barriers and addressing disincentives. It is recommended that policymakers push the financial sector to adopt a green finance strategy to further the goals of long-term sustainable development. Industry must integrate multiple objectives, such as inclusive growth and environmental protection and productivity, through an even broader range of legislative frameworks ideal for decoupling growth from social and ecological unsustainability, at the heart of the green manufacturing process.

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“…However, green finance encompasses not only climate finance, but also a wider range of financial services and products that are focused on a wide objective for the environment such as pollution control, conservation of biodiversity, and natural recourses preservation. However, since its inception in 2010, the Green Climate Fund (GCF) has provided financial assistance to developing nations so that they can better prepare for and cope with the effects of climate change ( Pan and Chen, 2021 ; Zhang et al, 2021a ). It was also identified that green finance is essential to financing climate change action following the adoption in 2015 of the Paris Agreement and the Sustainable Development Goals (SDGs) and Sendai Framework for Disaster Risk Reduction (DRRR) ( Truby et al, 2022 ).…”

Section: Literature Reviewmentioning

confidence: 99%

How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?

2022

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Climate change is one of the most serious threats facing the world today. Environmental pollution and depletion of natural resources have been highlighted by the United Nations Sustainable Development Goals (SDGs), paving the way for modern concepts such as sustainable growth to be introduced. Therefore, this research explores the relationship between green finance, energy efficiency, and CO2 emissions in the G7 countries. The study uses panel data model technique to examine the dependence structure of green finance, energy efficiency, and CO2 emissions. Moreover, we use DEA to construct an energy efficiency index of G7 countries. A specific interval exists between the values of the energy efficiency indexes. Japan, the United Kingdom, and the United States were named the most energy-efficient countries in the world, based on results obtained for five consecutive years in this category. However, according to the comparative rankings, France and Italy are the most successful of all the G7 members, followed by the United Kingdom and Germany. Our overall findings of the econometric model confirm the negative impact of green finance and energy efficiency on CO2 emissions; however, this relationship varies across the different quantiles of the two variables. The findings in the study confirm that green finance is the best financial strategy for reducing CO2 emissions.

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Assessing the nexus mechanism between energy efficiency and green finance

Cited by 31 publications

References 83 publications

RETRACTED ARTICLE: Does green finance mitigate the effects of climate variability: role of renewable energy investment and infrastructure

RETRACTED ARTICLE: Does green finance mitigate the effects of climate variability: role of renewable energy investment and infrastructure

Does Green Financing Develop a Cleaner Environment for Environmental Sustainability: Empirical Insights From Association of Southeast Asian Nations Economies

How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?

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