green finance
214382877
Closing the green finance gap A systems perspective
Abstract Meeting its climate policy objectives requires the UK to rapidly decarbonise its energy sector. This demands high levels of investments into low carbon energy infrastructure, which are currently not undertaken at required scale, leading to a green finance gap. We explore (1) key investment barriers, (2) a theoretical framework for investigation and (3) possible solutions, drawing on a review of academic literature and policy reports, and interviews conducted with financial investors and experts. Our study confirms that policy uncertainty and short termism in the financial system are the two main investment barriers. Our results show that identified barriers form a complex system characterised by path dependency, lock in and non linearity. We recommend the adoption of systems theory as an analytical framework to inform the related policy debate and propose the expansion or development of sustainable investment vehicles as a useful near term solution while preparing a long term policy intervention based on a systems perspective.
Sarah Hafner Aled Jones Annela Anger-Kraavi J Pohl
159124579
The way to induce private participation in green finance and investment
Establishment of green credit guarantee schemes (GCGSs) and returning a portion of the tax revenue originally generated from spillover effect of green energy supply to investors. It can reduce the risk of green finance and increase the rate of return of green energy projects, respectively. In addition, technical developments in the sphere of distributed ledger technologies provide the opportunity to increase the transparency in green finance and investments. This paper contributes to literature by proposing two applied frameworks, backed by theoretical models on green finance and investment based on projects size. The objective is to induce the private participation in green finance and investment.
Farhad Taghizadeh-Hesary Naoyuki Yoshino
214696266
Impact of green finance on economic development and environmental quality: a study based on provincial panel data from China
The goal of green finance is to pursue the coordinated development of financial activities, environmental protection, and ecological balance. This study aims to examine the impact of green finance on economic development and environmental quality. Data concerning green finance, economic development, and environmental quality for 30 provinces and municipalities in China from 2010 to 2017 are used. First, the global principal component analysis is adopted to develop a green finance development index. Second, a model of the impact of green finance on economic development is constructed, which indicates that the development of green finance plays a role in promoting economic development. Next, emissions of industrial smoke (powder) dust, industrial solid waste, and carbon dioxide are used to represent the environmental variables, and a model of the impact of green finance on environmental quality is proposed. The model shows that green finance has a positive effect on environment improvement. However, the impact of green finance on environmental quality varies for different levels of economic development. Finally, based on the theory of the environmental Kuznets curve, a model of the impact of green finance on the relationship between economic development and environmental quality is developed. The model indicates that green finance can significantly improve this relationship, creating a win win situation regarding economic development and the environment.
Environmental Science and Pollution Research
Xiaoguang Zhou Xinmeng Tang Rui Zhang
219413866
An evolutionary analysis of green finance sustainability based on multi agent game
Abstract Green finance development, which enhances innovation capacity and economic green transformation, helps people deal with the challenges of climate change, ecological crisis and energy security. It is important to achieve sustainable and balanced development for green finance. In this paper, an evolutionary game model is built with four participants, which include governments, financial institutions, enterprises, and consumers. Analogue simulation is applied to analyze the influences of each parameter on changes and development in green financial market. Equilibrium strategy and influence mechanism of participating entities are investigated. The result shows that: first, the integrity of the green financial system has a positive impact on sustainability developments and cleaner production. Second, it is critical to strengthen the government regulation, slash financial institutions and enterprises' green finance production cost, increase the compensation for consumer pollution, and reduce the supervision cost of government. Accordingly, to integrity green financial system, governments, financial institutions, enterprises, and consumers needs participation and cooperation among each other.
He-rui Cui Ruoyao Wang Haoran Wang
230662375
The Global Green Finance Index 4
The sixth edition of the Global Green Finance Index (GGFI 6) was published on 27 October 2020. GGFI 6 provides evaluations of the depth and quality of the green finance offerings of 74 major financial centres around the world. The GGFI serves as a valuable reference into the development of green finance for policy and investment decision makers. The GGFI is updated and published every March and September. 120 financial centres were researched for GGFI 6 of which 74 now feature in the index. The GGFI is compiled using 135 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the Economist Intelligence Unit, the OECD and the United Nations. The instrumental factors are combined with financial centre assessments provided by respondents to the GGFI online questionnaire. GGFI 6 uses 4,219 assessments from 617 respondents. The Results Of GGFI 6 include: Amsterdam retained its leading position in the depth index. Zurich has risen to second place. In the quality index, these positions are reversed, with Zurich leading and Amsterdam second. San Francisco was the leading centre outside Western Europe, ranking seventh for depth and equal 10th for quality. New entrant, Helsinki, ranked 19th equal for depth and 12th for quality. On depth, San Francisco and Oslo moved into the top 10, while Montreal and Hamburg fell back. On quality, Oslo rose nine places to fourth, Munich and San Francisco moved into the top 10, and Hamburg and Vienna fell back. Narrow margins separate centres at top of the tables. Among the top 10 centres the spread of ratings is 31 out of 1,000 for depth (44 in GGFI 5) and 43 for quality (44 in GGFI 5) Western Europe Western Europe continues to improve its ratings across depth and quality, with all centres receiving improved ratings for both depth and quality, although a number of centres fell in the rankings as other centres improved faster. Oslo moved into the top 10 for depth and quality. Stockholm, Vienna, Brussels, Hamburg, Frankfurt, Madrid, Rome, Milan, Jersey, Isle Of Man, and Malta fell in the rankings for both depth and quality. North America USA centres have gained ground on Canadian centres in GGFI 6. San Francisco replaced Montreal as the top ranking centre for depth and continued to lead the region for quality, now featuring in the top 10 globally in both rankings. Vancouver also moved up in both measures, and now takes second position in both measures in the region. Montreal, Toronto, and Calgary fell in the rankings for depth. Toronto also fell in the quality rankings
Gregory Andrew Ford Mireille Martini Simon Mills Mike Wardle
214708499
Literature Review and Content Analysis: Internet Finance, Green Finance, and Sustainability
Internet finance, green finances, and sustainable development have not only become an important breakthrough in the reform of financial supply side, but also a hot topic of academic research. Based on the MDPI journal " Sustainability " in May 2019 deadlines for the special issue " Internet Finance, Green Finance and Sustainability " this paper uses a content analysis method to make a literature review and test cross analysis of 23 papers in this special issue. The analysis shows that the paper in this special issue does not fully demonstrate the trend of green finance and sustainable development to readers.
Chung-Lien Pan Jingjing Qiu Zizhen Chen Yu-chun Pan
229163280
Research on the Impact of Green Finance and Fintech in Smart City
The green development level reflected in the green finance index and the evaluation of the degree of green development in smart cities have important practical effects on economic transformation. For promoting the transformation and upgrading of finance, we select 2013 2019 data and construct a distributed lag model to analyse the important role played by green finance and financial technology in the construction of smart cities. In the paper, we find green finance promotes the construction of smart cities, and only it will not appear until nine months late. Financial technology has an opposite impact on the construction of smart cities, this is mainly because the research and marketization of financial technology are higher, and the cost is also higher. This influence will appear in the next 14 months.
Complex.
Zheng He Zhengkai Liu Hui Wu Xiaomin Gu Yuanjun Zhao Xiaoguang Yue
213240828
The political and institutional constraints on green finance in Indonesia
ABSTRACT The ADB estimates Asia's infrastructure needs from 2016 to 2030 will exceed US $26 trillion. This ballooning demand for infrastructure, coupled with rising investor awareness of the importance of sustainable development, is driving the nascent green finance sector. In emerging markets, raising capital for green projects is often the easy part; identifying and implementing suitable projects and structuring the financing is more challenging. This paper draws on the school of institutional economics to analyse the potential of green finance in underwriting renewable energy development in Indonesia. The paper argues that even if there is strong demand on capital markets for green bonds backing clean energy projects, the institutional design of the renewable energy sector has created a misaligned incentive structure for Indonesia's political class. The paper concludes by discussing Ministerial Regulation 50/2017 which has created a regulatory framework that side steps some of these constraints.
James Guild
221884099
The spatial spillover effects of green finance on ecological environment empirical research based on spatial econometric model
Correct understanding of the positive role and mechanism of green finance in promoting ecological environment is an important premise and guarantee for promoting green finance to better serve the improvement of ecological environment. Based on the panel data of 31 provinces (municipalities and autonomous regions) in China from 2009 to 2017, this paper constructs a spatial Dubin model based on the distance weight matrix and empirically analyzes the impact of green finance on the ecological environment and its spatial spillover effects. The empirical results show that (1) the development of green finance promotes the improvement of the ecological environment in this region and (2) the influence of green finance on the ecological environment has a significant positive spatial spillover effect, that is, the development of green finance in this region will promote the improvement of the ecological environment in the surrounding areas.
Environmental Science and Pollution Research
Chenggang Li Yong Gan
222001556
Evaluating the Coupling Coordination Degree of Green Finance and Marine Eco environment Based on AHP and Grey System Theory
ABSTRACT Zhu, F. 2020. Evaluating the coupling coordination degree of green finance and marine eco environment based on AHP and grey system theory. In: Al Tarawneh, O. and Megahed, A. (eds. Recent Developments of Port, Marine, and Ocean Engineering. Journal of Coastal Research, Special Issue No. 110, pp. 277 281. Coconut Creek (Florida) ISSN 0749 0208. The authors attempt to study the coupling coordination degree (CCD) between green finance and marine ecoenvironment. To this end, it constructs a composite evaluation index system of green finance and marine ecoenvironment based on the domestic and foreign literatures, and then evaluates the comprehensive development level of the two systems using the combination method of analytic hierarchy process (AHP) and grey system theory. Meanwhile, the coupling degree model, and model were introduced to measure the coupling degree, CCD and comprehensive coordination index of China's green finance and marine eco environment. The results showed that as China gradually began to attach importance to green development, the coupling coordination between green finance and the marine eco environment system are both slowly increasing. The research findings provide a scientific basis for the practice of green finance and marine sustainable development in China.
Journal of Coastal Research
Feng Zhu