The University of Southampton
University of Southampton Institutional Repository

Does green financing help to improve environmental & social responsibility? Designing SDG framework through advanced quantile modelling

Does green financing help to improve environmental & social responsibility? Designing SDG framework through advanced quantile modelling
Does green financing help to improve environmental & social responsibility? Designing SDG framework through advanced quantile modelling
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 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 October 1, 2010 to 31st July 2020 using a combination of Quantile-on-Quantile Regression and Wavelet Multiscale Decomposition 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 objectives.
Agenda 2030, Environmental and social responsibility, Green bonds, Green financing, Quantile, Wavelet
0301-4797
Sinha, Avik
03a506c3-c237-4597-b1a1-d6dab4b6feb3
Mishra, Shekhar
e5c4493d-ad6c-4c71-a8ea-0a0c732f6816
Sharif, Arshian
b8d3f3c4-7178-4a8b-8fae-cf0a0d7fb8c5
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889
Sinha, Avik
03a506c3-c237-4597-b1a1-d6dab4b6feb3
Mishra, Shekhar
e5c4493d-ad6c-4c71-a8ea-0a0c732f6816
Sharif, Arshian
b8d3f3c4-7178-4a8b-8fae-cf0a0d7fb8c5
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889

Sinha, Avik, Mishra, Shekhar, Sharif, Arshian and Yarovaya, Larisa (2021) Does green financing help to improve environmental & social responsibility? Designing SDG framework through advanced quantile modelling. Journal of Environmental Management, 292, [112751]. (doi:10.1016/j.jenvman.2021.112751).

Record type: Article

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 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 October 1, 2010 to 31st July 2020 using a combination of Quantile-on-Quantile Regression and Wavelet Multiscale Decomposition 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 objectives.

Text
Does Green Financing help to improve Environmental & Social Responsibility Designing SDG framework through Advanced Quantile modelling - Accepted Manuscript
Download (1MB)

More information

Accepted/In Press date: 2 May 2021
Published date: 15 August 2021
Additional Information: Publisher Copyright: © 2021 Elsevier Ltd Copyright: Copyright 2021 Elsevier B.V., All rights reserved.
Keywords: Agenda 2030, Environmental and social responsibility, Green bonds, Green financing, Quantile, Wavelet

Identifiers

Local EPrints ID: 449560
URI: http://eprints.soton.ac.uk/id/eprint/449560
ISSN: 0301-4797
PURE UUID: 32df5f02-1c42-4ee3-88f7-7f1af6d1c963
ORCID for Larisa Yarovaya: ORCID iD orcid.org/0000-0002-9638-2917

Catalogue record

Date deposited: 08 Jun 2021 16:30
Last modified: 12 May 2022 04:01

Export record

Altmetrics

Contributors

Author: Avik Sinha
Author: Shekhar Mishra
Author: Arshian Sharif
Author: Larisa Yarovaya ORCID iD

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×