Green finance development and environmental sustainability: A panel data analysis
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F22%3A50019851" target="_blank" >RIV/62690094:18450/22:50019851 - isvavai.cz</a>
Result on the web
<a href="https://www.frontiersin.org/articles/10.3389/fenvs.2022.1039705/full" target="_blank" >https://www.frontiersin.org/articles/10.3389/fenvs.2022.1039705/full</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.3389/fenvs.2022.1039705" target="_blank" >10.3389/fenvs.2022.1039705</a>
Alternative languages
Result language
angličtina
Original language name
Green finance development and environmental sustainability: A panel data analysis
Original language description
This study considers five regions, i.e., South Asia, South-East Asia, China, Middle Eastern countries, and European countries, and took their data for 15 years. This study makes a significant contribution to the literature by examining the impact of green finance on environmental sustainability. Green finance development is represented by GDP, investment in renewable energy sources, investment in research and development (R&D) for eco-friendly projects, and public–private partnership investment in renewable energy projects. Green financing development in the chosen panel exhibits a distinct geographical cluster effect, with significant regional variances. The most important influencing elements are regional GDP, regional innovation level, and air quality, whereas the degree of financial development and industrial structure optimization are insignificant. The degree of financial development and industrial structure optimization are related to the amount of green finance development mostly via spillover effects. The degree of financial development has a positive spillover impact, but industrial structure optimization has a negative spillover effect. This study reveals that an increase in the production of energy from renewable sources, an increase in R&D, and the evolution of public–private partnership investment in renewable energy reduce CO2 emissions. It is evidenced that green finance in renewable energy sources is necessary to achieve environmental sustainability. There is a strong need to increase green finance in renewable sources to target the minimization of global CO2 emissions. There should be cross-border trade of renewable energy between regions/countries to mitigate CO2 emissions globally. Moreover, this study ranks the regions based on environmental sustainability, which may help researchers and decision-makers to entice foreign direct and private investment in these regions. The implications of the findings of the study suggest that environmental sustainability benefits greatly from green financing and investing in renewable energy sources through public–private partnerships, which represents one of the best ways to ensure environmental sustainability.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
10511 - Environmental sciences (social aspects to be 5.7)
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Frontiers in Environmental Science
ISSN
2296-665X
e-ISSN
2296-665X
Volume of the periodical
10
Issue of the periodical within the volume
November
Country of publishing house
CH - SWITZERLAND
Number of pages
11
Pages from-to
"Article Number: 1039705"
UT code for WoS article
000885262700001
EID of the result in the Scopus database
2-s2.0-85142074863