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The impact of green finance on the level of decarbonization of the economies: An analysis of the United States', China's, and Russia's current agenda

The impact of green finance on the level of decarbonization of the economies: An analysis of the... With growing global concern for mainstreaming of environmental protection measures, the promotion of climate change and sustainable development policies, the international community, represented by international organizations, research institutions, and world‐wide businesses, has focused on green finance. Existing research on green finance in the context of environmental trends has been reviewed in terms of the products and determinants of green finance. This study aims to assess the impact of green finance on the decarbonization of economies in the context of a review of current and potential problems and prospects. Based on the examples of the People's Republic of China, the Russian Federation, and the United States of America, the study suggests that today green finance has not yet demonstrated a tangible effect in these countries. Based on the results of the study, it can be argued that in the three countries, the main tool of green finance in the field of decarbonization is green bonds; other types of green finance are used to a limited extent. The progress of the United States and China is not so obvious, but based on the overall involvement of relevant government agencies and businesses in the green bond market, it can be assumed that the results will be observed in the near future. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Business Strategy and the Environment Wiley

The impact of green finance on the level of decarbonization of the economies: An analysis of the United States', China's, and Russia's current agenda

Jia, Qingxian
Business Strategy and the Environment , Volume 32 (1) – Jan 1, 2023
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References (19)

Publisher
Wiley
Copyright
© 2023 ERP Environment and John Wiley & Sons, Ltd.
ISSN
0964-4733
eISSN
1099-0836
DOI
10.1002/bse.3120
Publisher site
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Abstract

With growing global concern for mainstreaming of environmental protection measures, the promotion of climate change and sustainable development policies, the international community, represented by international organizations, research institutions, and world‐wide businesses, has focused on green finance. Existing research on green finance in the context of environmental trends has been reviewed in terms of the products and determinants of green finance. This study aims to assess the impact of green finance on the decarbonization of economies in the context of a review of current and potential problems and prospects. Based on the examples of the People's Republic of China, the Russian Federation, and the United States of America, the study suggests that today green finance has not yet demonstrated a tangible effect in these countries. Based on the results of the study, it can be argued that in the three countries, the main tool of green finance in the field of decarbonization is green bonds; other types of green finance are used to a limited extent. The progress of the United States and China is not so obvious, but based on the overall involvement of relevant government agencies and businesses in the green bond market, it can be assumed that the results will be observed in the near future.

Journal

Business Strategy and the Environment – Wiley

Published: Jan 1, 2023

Keywords: carbon intensity; carbon neutrality; climate change; decarbonization; green bonds; green finance sustainable development

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