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Is green finance a prerequisite for green growth of G-20 economies

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  • CİTİL, Mucahit

Abstract

This review considers the impact of various indicators, especially green finance, on green growth within the G-20 framework. Quantile regression results used as the analysis method showed that green growth was statistically significantly and positively affected by green finance. In addition to emphasizing the importance of sustainable investments, this result indicates that environmental taxes and strict ecological regulation policies contribute to the development of green finance and support sustainable economic goals. In addition to the basic results, this study reveals the importance of directing capital to areas with low carbon intensity and clean energy production sources. Allocating and encouraging funds necessary for technological developments to protect the environment will play important a role in achieving sustainable growth goals. In addition, it was determined that the level of human development to be reached with the increase in the level of education will also support green growth. As a result, strong policies that will support green finance, environmental taxes, stringent regulations, strategic investments, environmental technologies, renewable energy, and education are needed to promote sustainable economic growth in G-20 countries. These policies will help accelerate green growth by ensuring both economic growth and environmental sustainability.

Suggested Citation

  • CİTİL, Mucahit, 2024. "Is green finance a prerequisite for green growth of G-20 economies," Innovation and Green Development, Elsevier, vol. 3(4).
    • Handle: RePEc:eee:ingrde:v:3:y:2024:i:4:s294975312400047x
    DOI: 10.1016/j.igd.2024.100170
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