Green finance for energy transition, climate action and sustainable development: overview of concepts, applications, implementation and challenges

Bhattacharyya, Rupsha

doi:10.3934/gf.2022001

Cited by 63 publications

(19 citation statements)

References 39 publications

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“…In the same period, new instruments of debt policy such as infrastructure loans were introduced. These instruments, especially green financing and green bonds, require additional research and assessment of their potential (Bhattacharyya, 2022;Ilic, 2019;Bogacheva, Smorodinov, 2018).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Debt Policy for the Sustainable Development of Russian Regions and Megacities

Klimanov

Kazakova

2022

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Relevance. In recent years, the role of ESG (Environmental, Social and Governance) bonds has been rapidly growing in the world. ESGs are used to raise funds for programs for sustainable development of territories. Research objective. The paper studies the cases of Russian regions using green bonds and considers the prospects of this tool in the Russian context. Data and Methods. The analysis focuses on the debt indicators of Russian regions and related budgetary indicators based on open source data from the Ministry of Finance, the Treasury, and independent rating agencies. The methods of comparative and retrospective analysis are used to identify the state and features of regional debt policy. Results. Our analysis of the debt policy of Russian regions and megacities shows a low level of their activity in the stock market as issuers of bonds. This can be explained by the complexity of the system of subnational finances and the role of the Federation in preventing default situations, and therefore the priority use of budget loans. The city of Moscow was a pioneer in this matter in Russia. This determines the uniqueness of Moscow's experience in implementing debt policy. Conclusions. The expansion of the green bond practice will allow Russia to move forward in achieving the goals of ESG agenda, which, despite the large-scale sanctions imposed on Russia at the moment, still remains relevant.

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Section: Theoretical Frameworkmentioning

confidence: 99%

Debt Policy for the Sustainable Development of Russian Regions and Megacities

Klimanov

Kazakova

2022

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“…Central to the achievement of the international frameworks and the National commitments to climate change is finance. Finances deployed in support of climate resilient projects and low carbon projects that assist in climate change mitigation and adaptation is called climate finance (Bhattacharyya, 2021). Climate finance is needed for the pg.…”

Section: Introductionmentioning

confidence: 99%

Climate finance landscape in Nigeria

Edeminam

Akpasoh²

2023

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The recently launched Nigeria’s energy transition bold and ambitious plan indicates that Nigeria needs a minimum investment of $10 billion annually until 2060 to achieve SDG7 goal by 2030 and achieve its net-zero target by 2060. With the multiplicity of other macroeconomic issues Nigeria is grappling with such as high debt burden, high borrowing costs from external sources, COVID-19 pandemic, and adverse effects of other external shocks, there is a need to understand the climate finance landscape in Nigeria. This paper provides an expository outlook into the climate finance options that Nigeria can take advantage of to mobilise resources domestically for climate action, without overbearing dependence on international loans and grants. Some of the options for domestic climate finance mobilization are green bonds such as sukuk green bonds and diaspora green bonds, emission trading, carbon taxes, budgetary allocations, tax exemptions and import waivers, among others. Reviewing the successes of other countries in sourcing climate finance through these instruments, Nigeria can leverage on the learnings from these countries to set up a more resilient framework for domestic climate finance mobilization to meet the climate change goals.

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“…Bhattacharyya ( 2022 ) stressed the need to regulate green financing choices to address challenges of the energy transition, climate sensitivity, and sustainable development. Financial investors and regulators must tighten financial disclosure requirements to pave the way for green projects.…”

Section: Introductionmentioning

confidence: 99%

The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies

Khan

Usman

Zaman

et al. 2022

Environ Sci Pollut Res

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Climate finance and carbon pricing are regarded as sustainable policy mechanisms for mitigating negative environmental externalities via the development of green financing projects and the imposition of taxes on carbon pollution generation. Financial literacy indicates that it is beneficial to invest in cleaner technology to advance the environmental sustainability goal. The current wave of the COVID-19 epidemic has had a detrimental effect on the world economies’ health and income. The pandemic crisis dwarfs previous global financial crises in terms of scope and severity, collapsing global financial markets. The study’s primary contribution is constructing a climate funding index (CFI) based on four critical factors: inbound foreign direct investment, renewable energy usage, research and development spending, and carbon damages. In a cross-sectional panel of 43 nations, the research evaluates the effect of climate funding, financial literacy, and carbon pricing in lowering exposure to coronavirus cases. The study utilized Newton–Raphson and Marquardt steps to estimate the current parameter estimates while evaluating the COVID-19 prediction model with level regressors using the robust least squares regression model (S-estimator). Additionally, the innovation accounting matrix predicts estimations over a specific period. The findings indicate that climate finance significantly reduces coronavirus exposure by introducing green financing initiatives that benefit human health, which eventually strengthens the immune system’s ability to fight infectious illnesses. Financial literacy and carbon pricing, on the other hand, are ineffectual in controlling coronavirus infections due to rising economic activity and densely inhabited areas that enable the transmission of coronavirus cases across countries. Similar findings were obtained using the alternative regression apparatus. The COVID-19 predicted variable was used as a “response variable,” and climate financing was shown to have a favorable impact on containing coronavirus exposure. As shown by the innovation accounting matrix, carbon pricing would drastically decrease coronavirus cases’ exposure over a time horizon. The study concludes that climate finance and carbon pricing were critical in improving air quality indicators, which improved countries’ health and wealth, allowing them to reduce coronavirus infections via sustainable healthcare reforms.

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Green finance for energy transition, climate action and sustainable development: overview of concepts, applications, implementation and challenges

Cited by 63 publications

References 39 publications

Debt Policy for the Sustainable Development of Russian Regions and Megacities

Debt Policy for the Sustainable Development of Russian Regions and Megacities

Climate finance landscape in Nigeria

The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies

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