Green finance and carbon reduction: Implications for green recovery

The construction sector, which accounts for around 40% of the total annual global greenhouse gas (GHG) emissions, has been charged with decreasing its energy usage and environmental impact in compliance with the rules laid down in the Paris Agreement of 2016. Using panel data analysis, this research...

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Bibliographic Details
Published in:Economic analysis and policy 2022-12, Vol.76, p.901-913
Main Authors: Wan, Qilong, Qian, Jine, Baghirli, Araz, Aghayev, Aligul
Format: Article
Language:English
Subjects:
COVID-19
Green funding
Green property financing
Greenhouse gasses emission
Panel data estimation
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Summary:The construction sector, which accounts for around 40% of the total annual global greenhouse gas (GHG) emissions, has been charged with decreasing its energy usage and environmental impact in compliance with the rules laid down in the Paris Agreement of 2016. Using panel data analysis, this research examines the link between green property financing and the construction sector’s emissions of carbon dioxide in 100 developed and emerging nations. The findings of this research indicate that, while the growth of green property financing is strongly and adversely connected to the industry’s carbon dioxide emissions worldwide, this relationship is especially pronounced in emerging countries. This finding is a crucial one for these nations, as several of them are currently experiencing fast and unrestrained population growth, which has led them to increase their levels of oil consumption. Measures aimed at sustaining this advancement during the COVID-19 epidemic are critical, since the crisis has reduced the accessibility of green funding, thus slowing, and even reversing, the progress made in the years prior.
ISSN:0313-5926
DOI:10.1016/j.eap.2022.09.022