Low-carbon financial risk factor correlation in the belt and road PPP project

•The ISM and MICMAC methods were used to establish a hierarchical structure of the low-carbon financial risks.•Based on the grounded theory, we identified 10 core low-carbon financial risk factors in the Belt and Road PPP Project.•The risk databases of BRI need to be established, and ensure green in...

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Bibliographic Details
Published in:Finance research letters 2020-07, Vol.35, p.101491, Article 101491
Main Authors: Sun, Yu, Chen, Lizhen, Sun, Huaping, Taghizadeh-Hesary, Farhad
Format: Article
Language:English
Subjects:
Belt and Road Initiative (BRI)
Grounded theory
Interpretive Structural Modeling (ISM)
Low-carbon financial risk
Public-private partnership (PPP)
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Summary:•The ISM and MICMAC methods were used to establish a hierarchical structure of the low-carbon financial risks.•Based on the grounded theory, we identified 10 core low-carbon financial risk factors in the Belt and Road PPP Project.•The risk databases of BRI need to be established, and ensure green investment efficiency. A public-private partnership (PPP) project is a complex system with several stakeholders. The Green Belt and Road Initiative PPP project, in particular, entails multinational cooperation; therefore, the risks associated with this project are more complex and varied. Based on the grounded theory, this study identified 10 core low-carbon financial risk factors that could potentially derail the project. The Interpretive Structural Modeling methods were used to establish a hierarchical structure of the risks involved. The results show a strong correlation among the risk factors. The risk databases of the BRI need to be established, in order to ensure efficient green investments.
ISSN:1544-6123
1544-6131
DOI:10.1016/j.frl.2020.101491