Green finance: An empirical analysis of the Green Climate Fund portfolio structure

Amighini, Alessia; Giudici, Paolo; Ruet, Joël

doi:10.1016/j.jclepro.2022.131383

Cited by 37 publications

(11 citation statements)

References 20 publications

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“…Tax breaks and minimum cost of capital as an option to attract private investors was recommended by different scholars [35,37,47,[50][51][52][53][54][55][56]. However, no change has been experienced yet, as the green finance gap is increasing from time to time.…”

Section: Discussionmentioning

confidence: 99%

Developing Countries in the Lead: A Bibliometric Approach to Green Finance

Desalegn

Tangl

2022

Energies

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In recent years, green finance has become a popular method for dealing with environmental issues. However, it remains to be seen whether green financing is effective in addressing current global environmental issues. In this article, we, therefore, analyze the diffusion patterns of green finance publications in the Global South and Global North to identify which section of the globe is under-researched from this perspective. The study tried to highlight the overall trends of research publications on green finance, continent, most contributing authors, countries, and journals. The study used a bibliometric approach with the help of R studio software. The Scopus database was used for extracting the resources and 522 documents utilized in this bibliometric analysis. The result demonstrates that the diffusion of green finance is more common in the Global North than in the Global South. However, the number of scientific studies produced over time, the number of active authors, and affiliations of the Global South have contributed more than the Global North. More specifically, at the continental level, Asia and the Pacific are playing a lion’s share in providing scientific research publications on the green-finance-related issue. Meanwhile, the Arab states and Africa are the lowest contributing continent. China has the highest number of publications worldwide. However, this reality may be different if another approach (per capita contribution) is used to investigate the issue of green finance. Hence, we call for future studies to consider this fact in investigating the issue of green finance across the world. Furthermore, the study proposes further studies to be conducted on what are the factors that drive the Global South to lead. Finally, it is also better if the future studies take into account the status of each country in terms of green finance mobilization and capital contribution to share the specific experience of that country and lessons taken from that country.

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Section: Discussionmentioning

confidence: 99%

Developing Countries in the Lead: A Bibliometric Approach to Green Finance

Desalegn

Tangl

2022

Energies

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“…used the input-output measure of energy to examine the potential trajectory for Canada's environmentally friendly economy across several phenomena [ 30 ]. examined the growth efficiency of green economies in Chinese towns [ 31 ]. evaluated the level of green economic growth in Chinese cities, taking into account different resources.…”

Section: Literature Reviewmentioning

confidence: 99%

Leveraging green finance and technological innovations for sustainable urban development: A comparative study of Chinese mega-cities

Li,

Gu,

Han

et al. 2024

Heliyon

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“…Because their green features can help build good reputation for enterprises and be supported by policies (Qi and Liu, 2021), green bonds have the characteristics of a high rating, low risk, and strong liquidity (Jin and Han, 2016). Additionally, existing studies have analyzed the green stock market (Flammer, 2021), green fund (Amighini et al, 2022), green insurance, and so on, to deepen the understanding on the construction of green financial systems.…”

Section: Literature Review and Research Hypothesis 21 Literature Reviewmentioning

confidence: 99%

“…Existing studies on green finance focus on its connotation (Chen et al, 2019), green financial products (Li Z. S et al, 2018;Flammer, 2021;Amighini et al, 2022), the green financial behavior of different subjects (Lioui and Sharma, 2012;Kim et al, 2014) and the impact of green finance on enterprises, the economy, and the environment Liu et al, 2019;Ren et al, 2020;Zhou et al, 2020;Flammer, 2021). On the other hand, existing studies show that peer effects affect enterprises' investment and financing decisions (Foucault and Fresard, 2014;Leary and Roberts, 2014;Kaustia and Rantala, 2015;Bustamante and Fresard, 2021), merger and acquisition decision-making (Gu et al, 2022) and corporate governance (Adhikari and Agrawal, 2018;Yang et al, 2020), etc.…”

Section: Introductionmentioning

confidence: 99%

Peer effects of enterprise green financing behavior: Evidence from China

Yang

Zhang²,

Zhang³

et al. 2022

Front. Environ. Sci.

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Green finance is critical for adjusting the industrial structure and promoting sustainable economic development; therefore, it is important to understand enterprise green investment and financing behavior. This study aims to investigate the peer effects of enterprise green financing behavior. Based on theoretical analysis, this study selected data from Chinese A-share listed companies from 2011 to 2020 as the research sample. In this study, the fixed effects model was used to examine the peer effects of enterprise green financing. Meanwhile, a moderating effect model was employed to explore the function of the economic policy uncertainty and corporate social responsibility commitment on peer effects of enterprise green financing. The results show that the enterprise’s green financing behavior increases significantly with its peer companies’ (i.e., other companies in the same industry or the same region) green financing behavior, and responds to peer companies’ characteristics in the same industry, indicating peer effects on green financing behavior. The peer effects of enterprise green financing are stronger when the economic policy uncertainty is higher, suggesting that the green financing behavior of peer companies reduces external uncertainty by providing comprehensive and useful information, thus enhancing the enterprise’s information environment and enabling it to make better green financing decisions. Moreover, peer effects are more pronounced when corporate social responsibility commitment is higher, indicating that peer companies’ higher performance in social responsibility can improve their information transparency and build good reputation, increasing the enterprise’s disclosure and reputation costs in the capital market. Therefore, our findings highlight the importance of peer effects in enterprise green financing behavior. To enhance the enterprises’ green financing behavior and promote green finance development, the government should focus on the industrial and regional situation to conduct green finance and promote the overall green financing behavior of enterprises by establishing typical enterprises or pilot cities.

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Green finance: An empirical analysis of the Green Climate Fund portfolio structure

Cited by 37 publications

References 20 publications

Developing Countries in the Lead: A Bibliometric Approach to Green Finance

Developing Countries in the Lead: A Bibliometric Approach to Green Finance

Leveraging green finance and technological innovations for sustainable urban development: A comparative study of Chinese mega-cities

Peer effects of enterprise green financing behavior: Evidence from China

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