Green bonds for financing renewable energy and energy efficiency in South-East Asia: a review of policies

Azhgaliyeva, Dina; Kapoor, Anant; Liu, Yang

doi:10.1080/20430795.2019.1704160

Cited by 114 publications

(58 citation statements)

References 7 publications

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“…CO 2 emissions in particular in Islamic countries continue to experience a significant increase (Shaari et al, 2020), so that Islamic countries need to carry out energy conservation, energy efficiency and save energy consumption in order to reduce CO 2 emissions, one of which is by using energy. sustainable (Azhgaliyeva et al, 2020).…”

Section: Resultsmentioning

confidence: 99%

Energy Economics in Islamic Countries: A Bibliometric Review

Laila

Rusydiana²,

Irfany³

et al. 2021

IJEEP

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Energy has an important role in the economic growth of a country, the more energy a country has, the better the country's economy. This study tries to map the development of research published in the field of energy economics. The research was conducted using VOSViewer software. The data analyzed were in the form of scientific research related to energy economics in Islamic countries as many as 45 articles published in the last 10 years. The results showed that the number of publications on the development of research results in the field of energy economics continued to increase, with various research methods and countries of study objects. The network visualization shows that the energy economy research development map is divided into 5 clusters. Cluster 1 consists of 7 keywords, cluster 2 consists of 7 keywords, cluster 3 consists of 5 keywords, cluster 4 consists of 5 keywords and cluster 5 consists of 2 keywords. It was found that the most familiar keywords are Country, Renewable Energy, CO 2 Emission. Other findings based on the results of text mining are the analysis of Kaya Identity in Islamic countries and solutions in the form of sustainable energy use.

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Section: Resultsmentioning

confidence: 99%

Energy Economics in Islamic Countries: A Bibliometric Review

Laila

Rusydiana²,

Irfany³

et al. 2021

IJEEP

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“…It is noteworthy that the empirical relationship between green bonds and renewable energy has been considerably neglected. To the best of our knowledge, only a few articles provide an overview of the relationship between them [5,8,30] . For example, Liu et al [32] investigated the dynamic dependence between green bonds and clean energy markets through a time-varying copula model.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Green bonds are considered a crucial tool to release climate finance [6,7]. Green bonds are attracting increasing interest in Asia and around the world as an alternative source of financing for low-carbon projects [5,8]. Green bonds are used differently compared with general bonds [9].…”

Section: Introductionmentioning

confidence: 99%

Co-movement and Lead–Lag Relationship Between Green Bonds and Renewable Energy Stock Markets: Fresh Evidence from the Wavelet-Based Approach

Liu

2020

Preprint

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Background: A recent study in Nature Climate Change shows that due to reduced human activities during the Coronavirus disease 2019 (COVID-19) pandemics, daily global emissions of carbon dioxide decreased by 17% from the average level in 2019. With the gradual recovery of economic activity and human energy consumption, the emissions of greenhouse gas and pollution would rise again. Green bonds are considered a crucial tool to release climate finance. The green bond market can act as an essential bridge between capital providers (i.e. institutional investors) and sustainable assets (i.e. renewable energy).This study is the first attempt to examine co-movement and the lead–lag relationship between green bonds and global and sector renewable energy stock markets in the time and frequency horizons. We apply continuous wavelet, wavelet coherence, and line and non-line causality approaches on data during the period 2010–2020, coincidentally including the COVID-19 pandemic.Results: (1) Green bonds and renewable energy markets show evidence of a similar pattern based on the wavelet power spectrum, which shows high price volatility at small and medium scales, especially during periods of turbulence and crisis. (2) The dynamic connection between green bonds and renewable energy returns is weak (strong) on the short (long) time-scale. However, on medium-term time scales, the dependence between them is significant only during turbulent periods, such as the European Sovereign Debt Crisis 2012 (ESDC) and the COVID-19 pandemic. (3) With regard to causality, our results show unidirectional and bidirectional linear (non-linear) causality at low and high frequencies. Moreover, our finding reveals the fact regarding the lead–lag relationship that, most of the time and frequencies, no one market necessarily dominates the other.Conclusion: Our findings provide several remarkable policies and practical implications for market regulators and investors. Institutional investors can benefit by including green bonds in their portfolios to decrease their climate change risk and improve their environmental, social, and corporate governance rating in the portfolio. Considering that the dependence between green bonds and renewable energy stock prices varies over various time scales, investors with different investment horizons should make diverse investment portfolio and hedging choices. The finding is also relevant for formulating green finance policies and supporting renewable energy investments. Policy decisions on the transition of energy to a decarbonized economy should consider the consequences for green bonds, which are also critical for the transition to a climate-resilient economy.

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“…Based on the establishment of the green finance framework, the impact of green finance development on energy transition has begun to be studied. On the one hand, in terms of green financial tools, the impact of green bonds and green credits on renewable energy and green energy is analyzed and mixed findings are provided Azhgaliyeva et al, 2020). On the other hand, from the perspective of financial functions, it is confirmed that financial industry plays a role in supporting the development of green economy and the expansion of green finance (Keerthi, 2013;Sachs et al, 2019;Zheng et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Does Environmental Policy Promote Energy Efficiency? Evidence From China in the Context of Developing Green Finance

Peng

Zheng

2021

Front. Environ. Sci.

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In response to the dilemma between economic development and environmental protection, green finance is an effective tool for environmental regulation. Based on the stochastic frontier analysis method to measure the energy efficiency of China’s provinces from 2001 to 2017, the promotion effect of green finance on energy efficiency and the intermediary effect of green technology innovation are tested and analyzed in our study. The results show that green finance can significantly improve energy efficiency. Specifically, green finance makes stronger effect on energy efficiency in provinces with rich resource endowments, high levels of economic development, and high degree of marketization. Green finance can improve energy efficiency through the development of new energy technologies and disruptive green innovation, which provides important supports for formulating policies to optimize energy structure and improve energy efficiency.

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Green bonds for financing renewable energy and energy efficiency in South-East Asia: a review of policies

Cited by 114 publications

References 7 publications

Energy Economics in Islamic Countries: A Bibliometric Review

Energy Economics in Islamic Countries: A Bibliometric Review

Co-movement and Lead–Lag Relationship Between Green Bonds and Renewable Energy Stock Markets: Fresh Evidence from the Wavelet-Based Approach

Does Environmental Policy Promote Energy Efficiency? Evidence From China in the Context of Developing Green Finance

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