The Role of the Global Stock Market in the Transition to the Green Economy in the Context of the Climate Risks

Elena N. Alifanova, Yulia S. Evlakhova and Elena I. Brichka

Chapter 7 in Climate-Smart Innovation:Social Entrepreneurship and Sustainable Development in the Environmental Economy, 2023, pp 107-120 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The chapter focuses on the identification of the role of the global stock market in the transition to the green economy in the context of climate changes and risks. Three hypotheses were formulated and confirmed in the research: (1) the influence of the “green” bond global market on the sector of the investment class corporate bond in the developed countries; (2) the influence of the “green” bond global market on the sector of the sovereign debt of the developed countries; (3) the influence of the “green” bond global market on the dynamics of the capitalization of the biggest public companies. The involvement of the stock exchanges in the ESG (Environmental, Social, Governance) transformation processes was measured with qualitative and quantitative tools. To achieve to goals of the research, the authors applied the regression analysis methods and the comparative analysis of the empirical data. It was concluded that “green” bond index change contributed to the dynamics of the global indices of the corporate and sovereign bonds of the countries with developed markets. A close connection of the index S&P Green Bond Index with the S&P 500 was established. It was revealed that, despite the global support of sustainable development and measures to adapt to climate changes, the world’s stock exchanges manifest different levels of involvement in the ESG transformation.

Keywords: Climate-smart Innovation; Social Entrepreneurship; Sustainable Development; Environmental Economy; Green Economy; Environmental Marketing; Green Entrepreneurship Practices; COVID-19; Regional Economy; Natural Territory (search for similar items in EconPapers)
JEL-codes: L26 L31 Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789811264252_0007 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789811264252_0007 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811264252_0007

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().