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Does Green Financing help to improve the Environmental & Social Responsibility? Designing SDG framework through Advanced Quantile modelling

Author

Listed:
  • Sinha, Avik
  • Mishra, Shekhar
  • Sharif, Arshian
  • Yarovaya, Larisa

Abstract

Striving to achieve the Sustainable Development Goals (SDGs), countries are increasingly embracing a sustainable financing mechanism via green bond financing. Green bonds have attracted the attention of the industrial sector and policymakers, however, the impact of green bond financing on environmental and social sustainability has not been yet been confirmed. There is no empirical evidence on how this financial product can contribute to achieving the goals set out in Agenda 2030. In this study, we empirically analyze the impact of green bond financing on environmental and social sustainability by considering the S&P 500 Global Green Bond Index and S&P 500 Environmental and Social Responsibility Index, from 1st October 2010 to 31st July 2020 using a combination of advanced quantile modelling approaches. Our results reveal that green financing mechanisms might have gradual negative transformational impacts on environmental and social responsibility. Furthermore, we attempt to design a policy framework to address the relevant SDG’s objectives.

Suggested Citation

  • Sinha, Avik & Mishra, Shekhar & Sharif, Arshian & Yarovaya, Larisa, 2021. "Does Green Financing help to improve the Environmental & Social Responsibility? Designing SDG framework through Advanced Quantile modelling," MPRA Paper 108150, University Library of Munich, Germany, revised 2021.
    • Handle: RePEc:pra:mprapa:108150
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    More about this item

    Keywords

    green financing; green bonds; Agenda 2030; environmental and social responsibility; wavelet; quantile;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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