Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective

The purpose of the study is to test the role of green bond financing on energy efficiency investment and economic growth. To achieve the study objective, fuzzy decision-making modeling technique is applied. The results revealed that bank loans are now the main source of financing for energy efficien...

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Bibliographic Details
Published in:Environmental science and pollution research international 2023-05, Vol.30 (22), p.61324-61339
Main Authors: Ning, Yiyi, Cherian, Jacob, Sial, Muhammad Safdar, Álvarez-Otero, Susana, Comite, Ubaldo, Zia-Ud-Din, Malik
Format: Article
Language:English
Subjects:
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
China
Clean energy
Conservation of Energy Resources
Decision making
Earth and Environmental Science
Economic Development
Economic growth
Economics
Ecotoxicology
Energy efficiency
Environment
Environmental Chemistry
Environmental Health
Environmental science
Financing
Green Finance and Low-Carbon Economic Recovery in the Post COVID-19 World
Investments
Loans
Policy
Sustainable development
Waste Water Technology
Water Management
Water Pollution Control
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Summary:The purpose of the study is to test the role of green bond financing on energy efficiency investment and economic growth. To achieve the study objective, fuzzy decision-making modeling technique is applied. The results revealed that bank loans are now the main source of financing for energy efficiency projects. Project-based financing might be replaced with Energy Performance Contracts (EPC) warranting energy efficiency investment. Moreover, green banks invest both public and private funds in energy efficiency promoting economic growth. The usage of green bonds for financing environmentally beneficial projects or companies is limitless. Providing for screening energy efficiency investment proposals with small payback hurdle rates might have large opportunity costs. Green bonds can be used to remove the financing barriers for green finance and sustainability tool. On this, study provides policy implications to key stakeholders; if suggested policy suggestions implemented successfully, these would help to enhance scope of green bond financing to uplift energy efficiency financing and green growth successfully.
ISSN:1614-7499
0944-1344
1614-7499
DOI:10.1007/s11356-021-18454-7