Does the green finance initiatives transform the world into a green economy? A study of green bond issuing countries
- Title
- Does the green finance initiatives transform the world into a green economy? A study of green bond issuing countries
- Creator
- Aneja R.; Kappil S.R.; Das N.; Banday U.J.
- Description
- Green finance initiatives have received global support in modern times, relatively in response to safeguard the environment and preserve natural resources through channelizing the investments to create a green economy. This paper attempts to evaluate and compare the green finance growth in green bond issuing nations across the world. This study also assesses the effect of green finance growth on the dependence of non-renewable energy resources especially fossil fuels that have been creating several environmental issues for the past years. This study develops a pressure-state-response framework to evaluate the comprehensive system of green finance growth that depicts the interaction of sub-aspects. We employ the entropy technique to calculate the weights at each level within the evaluation system. We also constructed empirical models to assess the relationship between green finance growth and dependence on fossil fuel consumption and found that there exists a negative relationship between the two. The results convey that proliferation of green finance instruments can reduce the dependence on fossil fuels and smoothen the transition towards a carbon negative world. 2023, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
- Source
- Environmental Science and Pollution Research, Vol-30, No. 14, pp. 42214-42222.
- Date
- 2023-01-01
- Publisher
- Springer Science and Business Media Deutschland GmbH
- Subject
- Fossil fuel dependence; Green bonds; Green finance; PSR model
- Coverage
- Aneja R., Department of Economics, Central University of Haryana, Mahendragarh, India; Kappil S.R., Department of Data Science, Christ University, Karnataka, Bangalore, India; Das N., Indian Institute of Technology, Kharagpur, India; Banday U.J., Indian Institute of Technology, New Delhi, India
- Rights
- Restricted Access
- Relation
- ISSN: 9441344; PubMed ID: 36645606; CODEN: ESPLE
- Format
- Online
- Language
- English
- Type
- Article
Collection
Citation
Aneja R.; Kappil S.R.; Das N.; Banday U.J., “Does the green finance initiatives transform the world into a green economy? A study of green bond issuing countries,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 23, 2025, https://archives.christuniversity.in/items/show/14363.