Financial stability role on climate risks, and climate change mitigation: Implications for green economic recovery
2022
Sun, Licheng | Fang, Sui | Shaik̲h̲, Sājid Iqbāl | Bilal, Ahmad Raza
As a response to the topic of how financial stability might be used to effectively finance for the mitigation of climate change and climate risks, it is important to look at the carbon risk that is still present in G-5 nations. The goal of our research is to determine the impact of financial stability on climate risk in order to effectively manage climate mitigation efforts. A technique called GMM is used to achieve this goal. Climate change mitigation was found to be substantial at 18 percent, while financial stability and carbon hazards were found significant at 21 percent, according to the conclusions of the study. Furthermore, the G-5 countries’ 19.5% correlation between financial stability and emissions drift, which raises climate change concerns, is noteworthy. In order to implement green economic recovery methods, one of the most strongly regarded approaches to mitigating climate change and ensuring long-term financial potential at the national scale, a country’s financial stability is required. The research on green economic expansion also offers the associated stakeholders with detailed policy implications on this relevance.
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