Towards Paris Climate Agreement goals: The essential role of green finance and green technology

Tianyu Li, Xiaoguang Yue, Meng Qin and Diego Norena-Chavez

Energy Economics, 2024, vol. 129, issue C

Abstract: Probing the essential role of green finance (GF) and green technology (GT) is crucial to achieving the Paris Climate Agreement goals. The investigation utilises the wavelet-based quantile-on-quantile regression method to capture the comprehensive interrelation among GF, GT and the progress towards Paris Climate Agreement goals (PCA). The quantitative analyses indicate that GF and GT exert favourable impacts on PCA at the high and low quantiles in the short run, underlining that green finance and green technology could facilitate the realisation of Paris Climate Agreement goals, but the adverse effects in several cases contradict this opinion. In addition, GF and GT's positive and negative impacts on PCA are weakened in the medium term, and their stimulatory effects are also shown in the long-run scenario. Through comparing the impacts of GF and FT on PCA, and find that green finance contributes more towards the Paris Climate Agreement goals than green technology. Against the backdrop of increasingly severe climate changes and risks, these discussions could put forward meaningful lessons to realise the Paris Climate Agreement goals by developing green finance and green technology.

Keywords: Paris Climate Agreement goals; Green finance; Green technology; Quantile on quantile regression; Wavelet analysis (search for similar items in EconPapers)
JEL-codes: C32 Q55 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:129:y:2024:i:c:s0140988323007715

DOI: 10.1016/j.eneco.2023.107273

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