Energy Economics

, volume 113 , pages 106183

Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D

Dongyang Zhang ¹

Muhammad A. Mohsin ²

Farhad Taghizadeh-Hesary ³

Hide authors affiliations Show authors affiliations: 3 affiliations

School of Economics, Capital University of Economics and Business, China |

School of Finance and Economics, Jiangsu University, Zhenjiang, China |

School of Global Studies, Tokai University, Japan |

Publication type: Journal Article

Publication date: 2022-09-01

Elsevier

Energy Economics

scimago Q1

wos Q1

SJR: 3.919

CiteScore: 21.7

Impact factor: 14.2

ISSN: 01409883, 18736181

DOI: 10.1016/j.eneco.2022.106183

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General Energy

Economics and Econometrics

Abstract

Economies must decarbonize their energy sectors to meet their climate-policy objectives. This requires high investment in low-carbon energy infrastructure; however, there is a shortage of financial resources. In this study, based on data from 2008 to 2018 G-20 economies, we estimated the impact of green finance and digital finance on environmental protection using a quantile regression model. The results show that CO 2 emissions in the environment are reduced by green finance, renewable energy investment, and technological innovation, as shown in the panel quantile regression findings, whereas CO 2 emissions are increased by factors such as economic growth, energy consumption, trade, and foreign direct investment. This study proposes different ways for policymakers to increase the impact of green finance, promote digital finance, and create a carbon-trading market for sustainable development. • There is a shortage of financial resources to achieve carbon neutrality. • We estimated the impact of green finance on environmental protection. • CO 2 emissions would be reduced by green finance. • Promoting digital finance and the carbon trading market would foster sustainable development.

Found

1 citation

Alnafrah Ibrahim

🥼 🤝

PhD in Economics, associate professor

49 publications, 486 citations, 154 reviews

h-index: 14

Ural Federal University

Research interests

Blockchain

ESG

Economics (theory of innovation processes)

Green technologies

Innovations

Middle East

Post-conflict Economic reconstruction

Sustainable development

1 citation

Vasa Laszlo

142 publications, 1 150 citations, 824 reviews

h-index: 19

Széchenyi István University

Vytautas Magnus University

Hungarian University of Agriculture and Life Sciences

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GOST Copy

Zhang D., Mohsin M. A., Taghizadeh-Hesary F. Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D // Energy Economics. 2022. Vol. 113. p. 106183.

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RIS |

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RIS Copy

TY - JOUR

DO - 10.1016/j.eneco.2022.106183

UR - https://doi.org/10.1016/j.eneco.2022.106183

TI - Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D

T2 - Energy Economics

AU - Zhang, Dongyang

AU - Mohsin, Muhammad A.

AU - Taghizadeh-Hesary, Farhad

PY - 2022

DA - 2022/09/01

PB - Elsevier

SP - 106183

VL - 113

SN - 0140-9883

SN - 1873-6181

ER -

BibTex

Cite this

BibTex (up to 50 authors) Copy

@article{2022_Zhang,

author = {Dongyang Zhang and Muhammad A. Mohsin and Farhad Taghizadeh-Hesary},

title = {Does green finance counteract the climate change mitigation: Asymmetric effect of renewable energy investment and R&D},

journal = {Energy Economics},

year = {2022},

volume = {113},

publisher = {Elsevier},

month = {sep},

url = {https://doi.org/10.1016/j.eneco.2022.106183},

pages = {106183},

doi = {10.1016/j.eneco.2022.106183}

}

Publisher

Elsevier

Journal

Energy Economics

scimago Q1

wos Q1

SJR

3.919

CiteScore

21.7

Impact factor

14.2

ISSN

01409883 (Print)

18736181 (Electronic)

Profiles

Dong-Yang Zhang