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Characteristics of green loan users and the green policy mix

Author

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  • Sobiech, Anna L.
  • Uchida, Hirofumi

Abstract

We analyse the usage of government-sponsored green loans under a feed-in-tariffs scheme and document a positive link with borrower financial health. Green loan users have better credit ratings, higher sales growth, and lower leverage. The link remains stable in face of significantly changing conditions for green investments and heightened policy uncertainty. Green loan users exhibit better ex-post performance and lower default probability. Results are in line with the notion that the screening undertaken by the lender matters for efficient green loan provision and highlight the important role of public loan programs in the green policy mix.

Suggested Citation

  • Sobiech, Anna L. & Uchida, Hirofumi, 2025. "Characteristics of green loan users and the green policy mix," Energy Economics, Elsevier, vol. 143(C).
    • Handle: RePEc:eee:eneeco:v:143:y:2025:i:c:s0140988325000799
    DOI: 10.1016/j.eneco.2025.108256
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    Keywords

    Green loans; Public loan programs; Loan screening; Feed-in-tariffs;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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