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ABSTRACT. This article presents an empirical study carried out to evaluate and analyze green finance for low-carbon energy, sustainable economic development, and climate change mitigation during the COVID-19 pandemic. Building my argument by drawing on data collected from NGFS and UN, I performed analyses and made estimates regarding the transition to a low-carbon/sustainable economy. Data collected from 6,500 respondents are tested against the research model. Descriptive statistics of compiled data from the completed surveys were calculated when appropriate.
Keywords: green finance; low-carbon energy; climate change; sustainability; COVID-19
1.Introduction
Public green finance furthers environmental economic growth. (Zhang et al., 2021a) The objective of green finance is to proceed with the harmonized advancement of financial operations, sustainable protection, and ecological consonance. (Zhou et al., 2020) Green finance comprises climate finance and covers industrial pollution monitoring, water disinfection, biodiversity preservation, etc., and can be leveraged for low-carbon energy, sustainable economic development, and climate change mitigation during the COVID-19 pandemic. (Nawaz et al., 2021) Green finance and breakthrough energy utilization can decrease carbon intensity. (Ren et al., 2020)
Environmental innovation and green finance represent essential drivers of sustainable development. (Tolliver et al., 2021) Green finance development improves innovation capacity and economic environmental reconfiguration (Campbell, 2021a, b; Kliestik et al., 2020; Lăzăroiu et al., 2021; Taylor, 2021), being instrumental in optimizing climate change, ecological issues, and energy security. (Cui et al., 2020) Environmental types of finance are growingly relevant in reducing climate change. (van Veelen, 2021) The performance of green innovation is compromised when companies confront increased financing constraints. (Yu et al., 2021) The green credit policy enhances environmental quality by shaping corporate financing and investment. (Zhang et al., 2021b) Green finance constitutes a groundbreaking channel for developed economies to attain sustainable growth (Muganyi et al., 2021), fully harnessing the distribution of financial resources and furthering the increase in efficiency of industrial structures. (Gu et al., 2021) Coherent grasp of the beneficial functions and processes of green finance in advancing ecological environment (Durana et al., 2021; Lăzăroiu et al., 2020; Noyes and Stråth, 2021) constitutes a significant foundation and guarantee for developing green finance to more thoroughly articulate the buildup of ecological environment. (Li and Gan, 2021)
3.Methodology and Empirical Analysis
Building my argument by drawing on data collected...