{"title":"Do energy transition investment flows aid climate commitments?","authors":"Kwamie Dunbar, Daniel N. Treku","doi":"10.1016/j.eneco.2024.108163","DOIUrl":null,"url":null,"abstract":"The transition to renewable energy is critical in meeting global climate commitments, particularly those outlined in the Paris Agreement and the United Nations Sustainable Development Goals. This study examines the influence of energy transition investment (ETI) flows on the issuance of green bonds in the green finance market. Green bonds fund sustainable projects and align investments with environmental goals. Our research reveals a positive correlation between ETI flows and the volume of green bonds issued, indicating that increased investments in energy transitions spur the growth of green bond markets. This relationship underscores the significance of impact investments in advancing the green finance market and supporting climate-resilience initiatives. Our findings suggest that fostering ETI flows can significantly enhance green bond issuances, thereby promoting sustainable development. Policymakers should consider these insights when designing effective strategies to incentivize impact investments, which are pivotal in achieving long-term environmental and economic sustainability.","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"5 1","pages":""},"PeriodicalIF":13.6000,"publicationDate":"2024-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Energy Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1016/j.eneco.2024.108163","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
The transition to renewable energy is critical in meeting global climate commitments, particularly those outlined in the Paris Agreement and the United Nations Sustainable Development Goals. This study examines the influence of energy transition investment (ETI) flows on the issuance of green bonds in the green finance market. Green bonds fund sustainable projects and align investments with environmental goals. Our research reveals a positive correlation between ETI flows and the volume of green bonds issued, indicating that increased investments in energy transitions spur the growth of green bond markets. This relationship underscores the significance of impact investments in advancing the green finance market and supporting climate-resilience initiatives. Our findings suggest that fostering ETI flows can significantly enhance green bond issuances, thereby promoting sustainable development. Policymakers should consider these insights when designing effective strategies to incentivize impact investments, which are pivotal in achieving long-term environmental and economic sustainability.
期刊介绍：
Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.
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