The drivers of environmental sustainability in BRICS economies: Do green finance and fintech matter?

World Development Sustainability, Journal Year: 2023, Volume and Issue: 3, P. 100096 - 100096

Published: Aug. 19, 2023

The BRICS nations have made environmental sustainability a top priority in their policies due to concerns about the negative impact of fossil fuel reliance on environment. Their dependence fuels, both for energy production and imports, has led steady increase greenhouse gas emissions over time. However, also significant potential renewable sources that can be harnessed without harming In this study, we examine how green finance (GFN) financial technology (fintech) contribute nations' goal achieving carbon neutrality from 2000 2018. We consider influence innovation, economic growth, natural resources rent. results support Environmental Kuznets Curve hypothesis indicate GFN, fintech, innovation promote sustainability. On other hand, rent, growth quality. find there is bidirectional causality between CO2 while GDP exhibit unidirectional with emissions. Based these findings, recommend countries prioritize development products expand capacity banks institutions offer credit facilities. Furthermore, more should dedicated research effectively use solutions managing associated risks.

Language: Английский

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Green finance, fintech, and environmental sustainability: fresh policy insights from the BRICS nations

International Journal of Sustainable Development & World Ecology, Journal Year: 2023, Volume and Issue: 30(6), P. 633 - 649

Published: Feb. 27, 2023

The BRICS region has considered achieving environmental sustainability a top priority in terms of policy. Environmental distress is mostly brought on by the region's continued reliance fossil fuels to supply local energy needs. Besides, historically been significant importer fuels, making it difficult substantially reduce them. As result, nations' greenhouse gas (GHG) emission rates have steadily increased over time. Moreover, offers vast untapped amounts renewable sources that may be used generate power without adversely harming environment. In light this, this paper examines combined effects green finance (GFN) and financial technology (fintech) carbon neutrality goals from 1990 2020, while controlling for innovation, economic growth natural resources rent. results economies, which are supported EKC hypothesis, suggest GFN, fintech innovation (ENI) promote sustainability. However, rent (NRR) (GDP) degrade quality. Additionally, shown bidirectional causality exists between CO2 emissions fintech, NRR. GDP ENI exhibit unidirectional with emissions. Based empirical findings, suggested countries should speed up development products expand ability banks institutions provide credit facilities, put into research usage GFN solutions.

Language: Английский

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Save the environment, get financing! How China is protecting the environment with green credit policies?

Journal of Environmental Management, Journal Year: 2022, Volume and Issue: 323, P. 116178 - 116178

Published: Sept. 13, 2022

Language: Английский

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The Impact of Green Credit on the Green Innovation Level of Heavy-Polluting Enterprises—Evidence from China

International Journal of Environmental Research and Public Health, Journal Year: 2022, Volume and Issue: 19(2), P. 650 - 650

Published: Jan. 6, 2022

This article uses the “Green Credit Guidelines” promulgated in 2012 as an example to construct a quasi-natural experiment and double difference method test impact of implementation on green innovation activities heavy-polluting enterprises. The study found that, comparison non-heavy polluting enterprises, credit policies inhibited all In analysis heterogeneity, this restraint effect did not differ significantly due nature property rights company’s size. mechanism showed that policy limits efficiency business investment increases cost financing debt. Eliminating corporate financing, particularly long-term borrowing, negatively impacts behavior listed companies.

Language: Английский

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Can green credit policy reduce corporate carbon emission intensity: Evidence from China's listed firms

Corporate Social Responsibility and Environmental Management, Journal Year: 2023, Volume and Issue: 30(5), P. 2623 - 2638

Published: April 20, 2023

Abstract Green credit policy is designed to address the global climate risk. However, few studies have investigated empirically whether green indeed reduces corporate carbon emission intensity. Based on firm‐level data in China and a difference‐in‐differences model, this study explores how intensity evolves following policy. We find that, whole, can effectively reduce intensity, while dynamic negative effect tends alleviate after 2017. Specifically, mainly through lowering investment enhancing environmental supervision. signaling mechanism of does not significantly The has stronger reduction with third‐party certification, non‐state‐owned ownership, high financing constraint. thereby suggest that innovations should be made standards processes ensure sustainability stability. Quantitative standardized information disclosure essential for low‐carbon finance innovation.

Language: Английский

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Striving for the United Nations (UN) sustainable development goals (SDGs) in BRICS economies: The role of green finance, fintech, and natural resource rent

Sustainable Development, Journal Year: 2023, Volume and Issue: 31(5), P. 3657 - 3672

Published: May 31, 2023

Abstract In terms of policy, the BRICS region has prioritized achieving environmental sustainability. Environmental problems are mostly caused by area's continuous reliance on fossil fuels to meet its energy requirements. It is also challenging significantly reduce region's because historically, been a big importer fuels. As result, greenhouse gas (GHG) emission rates countries have rising over time. Furthermore, area enormous untapped reserves renewable sources that can be exploited produce electricity without negatively impacting ecosystem. light this, this research analyses, while controlling for innovation, economic growth, and natural resource rent, combined effects green finance (GFN) financial technology (fintech) in reaching carbon neutrality goals from 1990 2020. The findings economies, which consistent with EKC theory, imply sustainability promoted GFN, fintech, innovation (ENI). NRR (natural rent) GDP (economic growth) compromise quality, nevertheless. demonstrated there two‐way causal relationship between CO 2 emissions NRR. However, it ENI one‐way emissions. recommended nations speed up development products increase capacity banks institutions offer credit facilities based empirical findings. basic study how solutions might used lowering related risks should receive more funding.

Language: Английский

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Assessing the effect of green credit on risk-taking of commercial banks in China: Further analysis on the two-way Granger causality

Journal of Cleaner Production, Journal Year: 2024, Volume and Issue: 437, P. 140698 - 140698

Published: Jan. 1, 2024

Language: Английский

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Does green credit benefit the clean energy technological innovation and how? The policy catering behavior of enterprises

Journal of Cleaner Production, Journal Year: 2024, Volume and Issue: 444, P. 141256 - 141256

Published: Feb. 16, 2024

Language: Английский

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Does digital finance improve the green investment of Chinese listed heavily polluting companies? The perspective of corporate financialization

Environmental Science and Pollution Research, Journal Year: 2022, Volume and Issue: 29(47), P. 71047 - 71063

Published: May 20, 2022

Language: Английский

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The impact of green credit policy on firms’ green strategy choices: green innovation or green-washing?

Environmental Science and Pollution Research, Journal Year: 2022, Volume and Issue: 29(48), P. 73307 - 73325

Published: May 27, 2022

Language: Английский

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