Implications of Fiscal and Financial Policies on Unlocking Green Finance and Green Investment

This study analyzes the returns volatility of ISAT and MEDC in context of green investment. These two stocks are member of SRIKEHATI index. SRIKEHATI is an index containing stocks that concern on environment, social and governance. The period of analysis cover 2009-2014 the focus of the study is on three measures of price earning ratio (PER) and fundamental performance indicator, environment activities disclosure in sustainability report was done. Results show that return volatility of ISAT affects return index of SRIKEHATI significantly, but not for MEDC. ISAT has experienced decreasing profit that continued to a loss, inconsistent reporting environment activities in the sustainability report. MEDC has experienced decreasing of profit but did not lead into a loss. MEDC is also consistent in reporting environment-related activities through publishing sustainability reports. Keywords: green finance; green investment; SRI-KEHATI index; ISAT; MEDC

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The Effects of Green Financial Development on Economic Growth in Pakistan

iRASD Journal of Economics ◽

10.52131/joe.2021.0302.0044 ◽

2021 ◽

Vol 3 (3) ◽

Author(s):

Muhammad Atif Nawaz ◽

Muhammad Sajjad Hussain ◽

Altaf Hussain

Keyword(s):

Economic Growth ◽

Time Series ◽

Foreign Direct Investment ◽

Financial Development ◽

Direct Investment ◽

Positive Impact ◽

Development Indicators ◽

Green Finance ◽

Green Investment ◽

World Development

Sustainable development is now a mantra for which every country is striving for it and green finance, and green financial development which is advancement in financial activities harmonized with environmental protection and ecological balance, is considered as the foremost solution for it. Keeping in view the importance of green financial development for the economic growth, this study aims to examine the effects of green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment on the economic growth of Pakistan. The time series has extracted from World Development Indicators (WDI) and State Bank of Pakistan (SBP) for the period 1981 to 2019. For the analysis purpose, Autoregressive distributive lag (ARDL) and Granger casualty have been executed. The findings established empirically that green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment have a positive impact on the economic growth of Pakistan. These findings provide the insight to the regulators that they should enhance their focus towards green financial development that is imperative for the economic growth of the country.

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New priorities for the economy and green finance

Economic Revival of Russia ◽

10.37930/1990-9780-2021-1-67-152-166 ◽

2021 ◽

pp. 152-166

Author(s):

S.N. Bobylev ◽

◽

P.A. Kiryushin ◽

N.R. Koshkina ◽

◽

...

Keyword(s):

Global Economy ◽

Economic Life ◽

Carbon Intensity ◽

Low Carbon ◽

Financing System ◽

Investment Policies ◽

Carbon Neutrality ◽

Green Finance ◽

Effective System ◽

Green Investment

The unsustainability of the global economy and environmental risks were in many ways the trigger that led to the formation of new priorities and models of the economy, both in theory and in real economic life. The paper discusses crucial issues of green finance in the context of the greening of the world economy, in particular, the increasingly significant low-carbon trends. The green finance market is growing at an enormous rate every year. A significant part of the green funds is invested in the reduction of the carbon intensity of economy, the energy efficiency, development of the renewable energy. A growing number of countries, banks and corporations are pursuing green investment policies to achieve ambitious carbon neutrality goals. The development of a green financing system is also taking place in Russia. Such structures as VEB.RF, the Central Bank and the Ministry of Economic Development are participating in its development. However, within the framework of an unstable commodity-exporting model of the economy, it is difficult to build an effective system of green financing. Russia needs to develop a long-term strategy for the country’s development, which can be based on the principles of sustainable development, balancing social, economic, financial and environmental factors.

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Construction and Analysis of Green Investment Risk Evaluation Index System Based on Information Entropy Fuzzy Hierarchical Analysis Model

Wireless Communications and Mobile Computing ◽

10.1155/2021/4850321 ◽

2021 ◽

Vol 2021 ◽

pp. 1-13

Author(s):

Yuqi Huang

Keyword(s):

Risk Evaluation ◽

Evaluation Method ◽

Comprehensive Evaluation ◽

Fuzzy Comprehensive Evaluation ◽

Evaluation Index System ◽

Hierarchical Analysis ◽

Analysis Model ◽

Green Finance ◽

Green Investment ◽

Operation Risk

This paper adopts the information entropy fuzzy hierarchical analysis model to conduct an in-depth study and analysis of the green investment risk evaluation system and to process and analyze its indicators. The entropy method-fuzzy hierarchical analysis is used to evaluate the green financial capital operation risk. Firstly, I point out the research trends and shortcomings, define the concepts of fund operation, operation risk, risk evaluation, and green finance, and elaborate the relevant basic theories to lay the theoretical foundation for the later research; secondly, I identify the external and internal fund operation risks by describing the development plan, overall operation, and specific operation plan of green finance; then, according to the existing fund operation risks, I integrate commercial banks’ risk. Then, based on the existing fund operation risks, I integrate the risk types of commercial banks, combine the characteristics of green finance business, design the green finance fund operation risk evaluation index system, initially determine the index weights through hierarchical analysis method, introduce the entropy value method to improve the index weights, and use the fuzzy comprehensive evaluation method to obtain the final evaluation results: in the process of green finance fund operation, internal risk is the most important risk, among which credit risk and financial innovation risk have the most significant impact; external risk is the second most important risk, among which economic risk and political risk are the most important. External risks are the second most important risks, among which economic risks and political risks are more obvious. The risks are judged from single-factor aspects, and the scoring values are used to determine the higher possibility of schedule risks caused by human factors, and finally, the schedule risk level of the reservoir project is determined to be medium through a comprehensive evaluation. The reasonableness of the calculation results shows that the entropy theory and the fuzzy comprehensive evaluation method are still applicable to the assessment of green investment risks.

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Green Infrastructure Investment Opportunities: Brazil 2019

10.18235/0002638 ◽

2020 ◽

Author(s):

Kristiane Davidson ◽

Nabilla Gunawan ◽

Julia Ambrosano ◽

Leisa Souza

Keyword(s):

Green Infrastructure ◽

Infrastructure Investment ◽

Low Carbon ◽

Sustainable Infrastructure ◽

Green Finance ◽

Key Sectors ◽

Investment Opportunities ◽

Sustainable Finance ◽

Green Investment ◽

Funding Gap

Green investment opportunities can help to close the country's infrastructure funding gap and also meet its climate commitments. The Green Infrastructure Investment Opportunities - Brazil 2019 was developed to facilitate the engagement between project owners and developers, and investors. The report analyses the development of the sustainable finance market in Brazil, and the investment opportunities in green infrastructure across four key sectors: low carbon transport, renewable energy, sustainable water management, and sustainable waste management for energy generation. Moreover, it also lists alternatives for unlocking the country's potential in sustainable infrastructure investment as well as identifying a range of actual projects that are in the pipeline for development and which could potentially access green finance.

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A Systematic and Critical Review on the Research Landscape of Finance in Vietnam from 2008 to 2020

Journal of Risk and Financial Management ◽

10.3390/jrfm14050219 ◽

2021 ◽

Vol 14 (5) ◽

pp. 219

Author(s):

Manh-Tung Ho ◽

Ngoc-Thang B. Le ◽

Hung-Long D. Tran ◽

Quoc-Hung Nguyen ◽

Manh-Ha Pham ◽

...

Keyword(s):

Financial Market ◽

Financial Regulation ◽

Banking System ◽

Future Research ◽

Financial Policies ◽

Research Directions ◽

Social Sciences And Humanities ◽

Green Finance ◽

Future Research Directions ◽

And Behavior

This paper endeavors to understand the research landscape of finance research in Vietnam during the period 2008 to 2020 and predict the key defining future research directions. Using the comprehensive database of Vietnam’s international publications in social sciences and humanities, we extract a dataset of 314 papers on finance topics in Vietnam from 2008 to 2020. Then, we apply a systematic approach to analyze four important themes: Structural issues, Banking system, Firm issues, and Financial psychology and behavior. Overall, there have been three noticeable trends within finance research in Vietnam: (1) assessment of financial policies or financial regulation, (2) deciphering the correlates of firms’ financial performances, and (3) opportunities and challenges in adopting innovations and ideas from foreign financial market systems. Our analysis identifies several fertile areas for future research, including financial market analysis in the post-COVID-19 eras, fintech, and green finance.

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Research on the Environmental Effect of Green Finance Policy Based on the Analysis of Pilot Zones for Green Finance Reform and Innovations

Sustainability ◽

10.3390/su13073754 ◽

2021 ◽

Vol 13 (7) ◽

pp. 3754 ◽

Cited By ~ 1

Author(s):

Haifeng Huang ◽

Jing Zhang

Keyword(s):

Environmental Pollution ◽

Environmental Effect ◽

Industrial Structure ◽

Mediating Effect ◽

Finance Reform ◽

Financial Policies ◽

Green Finance ◽

Finance Policy ◽

The Difference ◽

Set Up

In this study, taking the pilot zones for green finance reform and innovations set up in 2017 as the objects, a quasi-natural experiment is conducted to assess the environmental effects of green finance policy using the difference-in-difference propensity score matching (PSM-DID) method based on the panel data in 30 provincial-level administrative regions from 2011 to 2019. In addition, further efforts are made to investigate the differences of green financial policies in environmental effect. According to the research findings, the set-up of green finance pilot zones can reduce the environmental pollution, and green finance policy is conductive to environmental enhancement. Meanwhile, a partial mediating effect exists between a region’s innovation capability and industrial structure. On the whole, green finance policy plays the most significant role in improving the eastern region’s environmental pollution, followed by the central region, but barely enhances the environment in the western region. To sum up, the more serious the environmental pollution is, the better the effect of green finance policy.

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Green finance: An uprising trend in the Russian financial market

Digest Finance ◽

10.24891/df.25.4.462 ◽

2020 ◽

Vol 25 (4) ◽

pp. 462-479

Author(s):

N.E. Annenskaya ◽

A.A. Nazar'yants

Keyword(s):

Mutual Fund ◽

Regulatory Framework ◽

Corporate Structure ◽

Public Authorities ◽

Russian Market ◽

Regulatory Documents ◽

Risk Assessment Models ◽

Green Finance ◽

Analysis And Synthesis ◽

Green Investment

Subject. The article discusses international stock exchanges, which concentrate deals with green investment instruments, which constitute green finance as a very popular and promising segment in advanced economies. We observe how green finance develop in the Moscow Exchange. Objectives. The study reveals trends seen in the Russian and foreign green finance markets. We formulate our recommendations for revising the existing approaches and adapting regulatory documents. Methods. The study is based on the methods of analysis and synthesis, comparative analysis and matching, and a graphical method. Results. Having analyzed the international practices, we discovered that the Russian green investment market lagged behind the global trend in terms of capitalization, the number of instruments and regulatory regulation. However, environmental cases recorded in 2020 will accelerate the implementation of green investment principles. The global green investment market is just at its infancy. Notwithstanding a shortage of instruments, it is actively growing and evolving. Although the regulatory framework is yet underdeveloped in terms of green finance, the market actors actively implement ESG-principles in their corporate structure and use risk assessment models. Investors choose investees more thoroughly and responsibly. The Russian market lacks an underdeveloped regulatory framework, notwithstanding attempts to adapt the effective regulatory documents to purposes of green finance, and create new regulations. Conclusions and Relevance. Administrative and economic actions we propose, such as the establishment of self-regulatory organizations for green investment, distribution of risk through the mutual fund of industrial organizations, will contribute to the effective emergence of ESG principles in the Russian market. Legislative recommendations can be used by public authorities and the megaregulator in order to adapt foreign practices to Russia.

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EU green finance objectives are likely to fall short

Emerald Expert Briefings ◽

10.1108/oxan-db257975 ◽

2020 ◽

Keyword(s):

Slow Growth ◽

Bond Market ◽

Regulatory Oversight ◽

Content Type ◽

Full Support ◽

Green Finance ◽

Sustainable Finance ◽

Green Investment ◽

The Eu

Significance An EU-wide framework that will help investors to differentiate between what the EU views as sustainable and unsustainable activities, it is an important pillar for the Commission’s sustainable finance agenda. This seeks to steer financial-sector investment towards firms that practise sustainable activities and incorporate environmental, social and governance (ESG) criteria into their long-term strategies. Impacts Without the full support of member states and the ECB, there is a risk than much of the EU’s agenda will remain aspirational. Addressing climate change will see greater regulatory oversight in green investment, but this could slow growth in the sector. The EU’s issuance of green bonds worth over EUR200bn would provide a significant boost to the global green bond market.

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