Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis
Considering increasing public interest in environment-related problems and the carbon-neutrality aims of countries, this study focuses on the effect of green bonds on enabling carbon neutrality and supporting clean electricity in China, which is the leading top carbon-emitting and energy-using count...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2024-05-01
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| Series: | Energy Strategy Reviews |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2211467X24000816 |
| _version_ | 1797221788895150080 |
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| author | Mustafa Tevfik Kartal Ugur Korkut Pata Cosimo Magazzino |
| author_facet | Mustafa Tevfik Kartal Ugur Korkut Pata Cosimo Magazzino |
| author_sort | Mustafa Tevfik Kartal |
| collection | DOAJ |
| description | Considering increasing public interest in environment-related problems and the carbon-neutrality aims of countries, this study focuses on the effect of green bonds on enabling carbon neutrality and supporting clean electricity in China, which is the leading top carbon-emitting and energy-using country in the world. In this context, the study makes a disaggregated level empirical analysis by considering sectoral emissions and source-based electricity generation by using quantile-based approaches from January 2, 2019, to December 31, 2023. The outcomes show that (i) green bonds decrease mainly emissions in transport and international aviation sectors; (ii) green bonds have mixed effects on the remaining sectoral emissions; (iii) green bonds increase electricity generation from all sources at higher quantiles, whereas they decrease electricity generation at lower quantiles. Thus, the effect of green bonds varies across sectors, electricity generation sources, and quantiles. Accordingly, a set of policy endeavors, such as dealing with firstly such critical sectors as power and industry, supporting the allocated green bond issuance to specified sectors, and focusing on some clean electricity generation sources like solar and wind, are argued for China. |
| first_indexed | 2024-04-24T13:11:00Z |
| format | Article |
| id | doaj.art-c7eb2e0ea8af4506a1fe843945dd2d85 |
| institution | Directory Open Access Journal |
| issn | 2211-467X |
| language | English |
| last_indexed | 2024-04-24T13:11:00Z |
| publishDate | 2024-05-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Strategy Reviews |
| spelling | doaj.art-c7eb2e0ea8af4506a1fe843945dd2d852024-04-05T04:40:32ZengElsevierEnergy Strategy Reviews2211-467X2024-05-0153101374Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysisMustafa Tevfik Kartal0Ugur Korkut Pata1Cosimo Magazzino2Department of Finance and Banking, European University of Lefke, Lefke, Northern Cyprus, TR-10, Mersin, Turkey; Adnan Kassar School of Business, Lebanese American University Beirut, Lebanon; Department of Economics and Management, Khazar University, Baku, Azerbaijan; Clinic of Economics, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan; Corresponding author. Department of Political Science, Roma Tre University, Roma, Italy.Adnan Kassar School of Business, Lebanese American University Beirut, Lebanon; Clinic of Economics, Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan; Department of Economics, Hatay Mustafa Kemal University, Hatay, Turkey; Advance Research Centre, European University of Lefke, Lefke, Northern Cyprus, TR-10, Mersin, TurkeyDepartment of Political Science, Roma Tre University, Roma, ItalyConsidering increasing public interest in environment-related problems and the carbon-neutrality aims of countries, this study focuses on the effect of green bonds on enabling carbon neutrality and supporting clean electricity in China, which is the leading top carbon-emitting and energy-using country in the world. In this context, the study makes a disaggregated level empirical analysis by considering sectoral emissions and source-based electricity generation by using quantile-based approaches from January 2, 2019, to December 31, 2023. The outcomes show that (i) green bonds decrease mainly emissions in transport and international aviation sectors; (ii) green bonds have mixed effects on the remaining sectoral emissions; (iii) green bonds increase electricity generation from all sources at higher quantiles, whereas they decrease electricity generation at lower quantiles. Thus, the effect of green bonds varies across sectors, electricity generation sources, and quantiles. Accordingly, a set of policy endeavors, such as dealing with firstly such critical sectors as power and industry, supporting the allocated green bond issuance to specified sectors, and focusing on some clean electricity generation sources like solar and wind, are argued for China.http://www.sciencedirect.com/science/article/pii/S2211467X24000816Green bondSectoral emissionsClean electricity sourcesDaily dataChina |
| spellingShingle | Mustafa Tevfik Kartal Ugur Korkut Pata Cosimo Magazzino Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis Energy Strategy Reviews Green bond Sectoral emissions Clean electricity sources Daily data China |
| title | Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis |
| title_full | Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis |
| title_fullStr | Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis |
| title_full_unstemmed | Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis |
| title_short | Effectiveness of green bonds on carbon neutrality and clean electricity generation: Comprehensive evidence from the leading emitting country by disaggregated level analysis |
| title_sort | effectiveness of green bonds on carbon neutrality and clean electricity generation comprehensive evidence from the leading emitting country by disaggregated level analysis |
| topic | Green bond Sectoral emissions Clean electricity sources Daily data China |
| url | http://www.sciencedirect.com/science/article/pii/S2211467X24000816 |
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