Asset Details
Do you wish to reserve the book?
The impact of green finance on environmental degradation in BRI region
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
The impact of green finance on environmental degradation in BRI region
Do you wish to request the book?
The impact of green finance on environmental degradation in BRI region
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
The impact of green finance on environmental degradation in BRI region
2024
Overview
The Belt and Road Initiative (BRI) is one of the largest infrastructure projects in the world, accounting for more than 30% of global GDP and 60% of world population. The economic growth of BRI member countries can be improved significantly, attributable to the successfulness of the infrastructure projects. The increased economic growth indirectly leads to higher energy consumption and environmental damage. In response to this, the BRI established a new concept and version of the project, namely green BRI. Thus, this study aims to examine if green finance plays a significant role in mitigating environmental degradation in the BRI region. Utilising a Generalised Method of Moments approach, we find green finance is negatively and significantly correlated with environmental degradation, suggesting green finance play an essential role to reduce the deterioration of environmental quality, while enhancing economic growth at the same time. In conclusion, BRI member states should continue promoting green finance by implementing incentive schemes, such as subsidising interest rates for the green loan, reducing corporate tax and establishing green credit guarantee scheme. Besides, in order simultaneously enhance economic growth, promote sustainability and achieve the 2030 Sustainable Development Goals, both governments and private sector should work hand in hand to promote green transformation of BRI.
