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Green Financing as a Tool to Mitigate Climate Change for Sustainable Development: An Insight form Egypt

Author

Listed:
  • Marwa Elsherif

    (Helwan University, Cairo, Egypt.)

Abstract

Climate change is undoubtedly one of the long-term challenges confronting humanity across the globe. Most of the economies have taken serious initiatives that support reduce greenhouse gas emissions as well as accelerate financial flows to clean and sustainable projects. This study investigates the influence of green financing on environmental sustainability represented by climate change mitigation- in Egypt from 1990 to 2021. Augmented Dickey Fuller (ADF), Phillip-Peron (PP) unit root tests and Quantile Autoregressive Distribute Lag (QARDL) Model were employed for empirical estimates. Results reveal that green financing is negatively associated with greenhouse gas emissions. It is also worth noting that research and development (R&D) investment promotes environmental sustainability, while population growth hinders it. Moreover, economic growth does not play a vital role in climate change. There are still many fences to green finance that need to be addressed. It is recommended that policymakers push the financial sector to adopt a green finance strategy to further the goals of long-term sustainable development.

Suggested Citation

  • Marwa Elsherif, 2023. "Green Financing as a Tool to Mitigate Climate Change for Sustainable Development: An Insight form Egypt," International Journal of Economics and Financial Issues, Econjournals, vol. 13(3), pages 33-45, May.
    • Handle: RePEc:eco:journ1:2023-03-4
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    References listed on IDEAS

    as
    1. Violetta Arkhipova, 2017. ""Green Finance" as Recipe for Solving Global Problems," HSE Economic Journal, National Research University Higher School of Economics, vol. 21(2), pages 312-332.
    2. Munir Ahmad & Nadeem Akhtar & Gul Jabeen & Muhammad Irfan & Muhammad Khalid Anser & Haitao Wu & Cem Işık, 2021. "Intention-Based Critical Factors Affecting Willingness to Adopt Novel Coronavirus Prevention in Pakistan: Implications for Future Pandemics," IJERPH, MDPI, vol. 18(11), pages 1-28, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Green Finance; Climate Change; Sustainable Development;
    All these keywords.

    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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