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

Avik Sinha, Shekhar Mishra (), Arshian Sharif () and Larisa Yarovaya

MPRA Paper from University Library of Munich, Germany

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.

Keywords: green financing; green bonds; Agenda 2030; environmental and social responsibility, wavelet, quantile (search for similar items in EconPapers)
JEL-codes: Q5 (search for similar items in EconPapers)
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-agr, nep-ene and nep-env
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Citations: View citations in EconPapers (68)

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