Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/340259 
Year of Publication: 
2022
Citation: 
[Journal:] Borsa İstanbul Review [ISSN:] 2214-8469 [Volume:] 22 [Issue:] 1 [Year:] 2022 [Pages:] 169-178
Publisher: 
Elsevier, Amsterdam
Abstract: 
This study examines the relationship between green finance and carbon dioxide (CO2) emissions in the top ten economies that support green finance (Canada, Denmark, Hong Kong, Japan, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States). This study uses quantile on quantile regression (QQR), introduced by Sim and Zhou (2015), to examine the dependence structure between different quantiles of green finance and CO2 emissions. Our overall findings confirm the negative impact of green finance on CO2 emissions; however, this relationship varies across the different quantiles of the two variables. This variation might be due to green finance market conditions (e.g., bearish or bullish) and country-specific market conditions. The findings in the study confirm that green finance is the best financial strategy for reducing CO2 emissions.
Subjects: 
CO2 emissions
Green bonds
Green finance
Quantile on quantile regression
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article
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