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The Role of Green Finance in Supporting Maritime Sustainable Development

In: Fintech and Sustainability

Author

Listed:
  • Massimo Arnone

    (University of Catania)

  • Tiziana Crovella

    (University of Bari Aldo Moro)

Abstract

This paper analyzes the role assumed by new forms of finance that are taking place within EU policies and in Italy, specifically through the National Plan for Recovery and Resilience (PNRR) (Social Impact Agenda for Italy, PNRR e Impact Investing, Sfide e opportunità, 2017; Gallucci in Green Finance - Finanza responsabile per la sostenibilità ambientale, Franco Angeli Edizioni, 2021) that falls under the scope of fintech. The goal of this research is to investigate the effects of certain financial measures envisaged by the EU Next Generation on the shipping industry. In particular, the study focuses on green bonds, which, within the European Union, from the very early stages of drafting the post-Covid-19 recovery plan, have been attributed a crucial role in achieving the objectives of the ecological transition. By conducting an empirical study, we suggest an application of green bonds in the maritime sector. Specifically, this study analyzes the effects of implementing the Cold Ironing Project, Green Ports’ innovative PNNR measure within the EU Next Generation. Considering that the reduction of emissions in ports is an issue of particular importance due to their proximity to human settlements, cold ironing provides a form of sustainable power for ships while they are docked in ports to provide electricity, lighting, cooling, heating, and other service auxiliaries.

Suggested Citation

  • Massimo Arnone & Tiziana Crovella, 2023. "The Role of Green Finance in Supporting Maritime Sustainable Development," Springer Books, in: Thomas Walker & Harry J. Turtle & Maher Kooli & Elaheh Nikbakht (ed.), Fintech and Sustainability, chapter 0, pages 53-87, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-40647-8_4
    DOI: 10.1007/978-3-031-40647-8_4
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