Search Results (274)

Amid rapid urbanisation and the associated environmental challenges, such as increased flood risk, the urban heat island effect, and ecosystem degradation, Blue–Green Infrastructure (BGI) has emerged as a vital sustainable development strategy. Some countries have successfully implemented BGI projects, shaped by their unique geographical conditions, socioeconomic contexts, and governance structures. Although the BGI concept is highly relevant worldwide, strategies for integrating BGI into urban environments vary significantly across regions and countries due to their distinct urban structures and spatial planning systems. This study provides a comparative study of BGI implementation into spatial planning systems of Ljubljana (Slovenia) and Kraków (Poland), as Central European cities, and Shanghai and Guangzhou, as Chinese cities. Through a systematic analysis of semi-structured interviews with key stakeholders, the study evaluates how different enablers, i.e., (1) guidelines, strategies, and actions, (2) land-use strategy for BGI, and (3) potential of factors for BGI implementation, including planning scale, financial, technical, and spatial, facilitate BGI implementation. This comparative study reveals contrasting yet complementary BGI paradigms, most notably related to top-down versus bottom-up implementation and different prioritisation of BGI functions. These varying paradigms are shaped by specific urban challenges, governance, and spatial planning systems. Full article

With growing global concern over climate risk, high-carbon enterprises are assuming an increasingly critical role in strengthening climate resilience and fostering low-carbon development. However, how climate risk disclosure shapes their carbon performance—specifically through what mechanisms and pathways—remains a pivotal yet underexplored question. To address this gap, this study constructs a panel dataset comprising Chinese listed high-carbon companies over the period 2006–2022 and employs a two-way fixed-effects econometric model to assess how climate risk disclosure affects carbon performance while investigating the underlying mediating channel. The empirical results provide robust evidence that enhanced climate risk disclosure improves the carbon performance of high-carbon enterprises. Mechanism analysis indicates that this beneficial outcome is mainly achieved through promoting green technological innovation and easing corporate financial constraints. Heterogeneity analysis further shows that the effect is stronger among smaller companies, firms operating in less concentrated industries, and those headquartered in China’s eastern region. The policy implications derived from these findings include establishing and strengthening a mandatory climate risk disclosure framework, introducing targeted incentives for green innovation and transition finance and tailoring climate risk management strategies according to firm-specific characteristics. Overall, this study underscores climate risk disclosure as a crucial factor in supporting the shift toward low-carbon operations among high-carbon enterprises. Full article

Gold, as a critical material with both financial and industrial value, is widely used across numerous fields such as finance, aerospace and medical care. Under the global background of increasing geopolitical risks and the advancement of high-tech industries, the demand for gold continues to grow steadily. The main raw materials for extracting gold are mainly divided into ore and electronic waste. Currently, conventional cyanidation remains the dominant industrial method for gold recovery. However, issues such as pollution and high toxicity of cyanide tailings are driving global efforts to explore environmentally friendly alternatives. Therefore, the development of green and efficient gold extraction technology has become a global research hotspot. This article focuses on cyanide-free leaching technologies, providing a detailed review of their current developments, advantages, and limitations, and proposing future trends in gold extraction. The future development directions of gold extraction include the development of thiosulfate–glycine leaching systems, the combination of multi-technology collaborative processes such as ultrasonic assistance and biological treatment to enhance efficiency, the strengthening of microbial metallurgy technology, and the construction of a resource recycling system for electronic waste. This review provides new insights and development directions for extracting gold for sustainable development. Full article

To address the “greenwashing” trust crisis induced by information asymmetry in sustainable supply chains, this study develops a comprehensive game-theoretic model integrating Stackelberg and evolutionary game theories (EGT). We quantitatively investigate the dynamic interactions among multi-dimensional consumer preferences, blockchain implementation costs, and boundedly rational government interventions. Our analysis yields three core contributions. First, we analytically reveal the “double-edged sword effect” of blockchain adoption. While structural transparency unlocks a trust dividend, exorbitant technological costs trigger a “budget crowding-out effect.” Quantitative results demonstrate that breaching the absolute Feasibility Threshold completely cannibalizes the environmental budget, driving substantive green investments strictly to zero. Second, EGT analysis proves that isolated punitive carbon taxes trap supply chains in a suboptimal “shallow greening” equilibrium. A composite tax-subsidy policy is structurally required to expand the feasible cost space and hedge against technological risks. Finally, we formulate a dynamic policy exit mechanism. As blockchain infrastructure matures and the endogenous green premium effectively offsets implementation costs, regulators must systematically phase out subsidies and converge toward a single-taxation regime to prevent corporate policy arbitrage and alleviate long-term public financial burdens. Full article

Against the backdrop of the ongoing advancement of the “dual carbon” goals and the carbon emission trading system, green innovation in small and medium-sized manufacturing enterprises faces multiple practical constraints, including financing constraints, technological commercialization risk, and market recognition costs. To examine the mechanism through which government regulation affects firms’ green innovation behavior, this study develops a four-party evolutionary game model involving government, small and medium-sized manufacturing enterprises, consumers, and investment institutions, and analyzes the strategic interactions and dynamic evolution of these actors. The results show that regulatory intensity, consumer green preference, and financial support from investment institutions all exert significant effects on green innovation decisions in small and medium-sized manufacturing enterprises. Whether firms choose substantive green innovation depends primarily on such key factors as financing uncertainty, technological commercialization risk, the intensity of government penalties, and the level of policy incentives. Further stability analysis and numerical simulations indicate that stronger administrative penalties significantly increase the likelihood that firms adopt substantive green innovation and also promote green consumption among consumers. This effect becomes more pronounced when financing uncertainty declines. At the same time, stronger policy incentives for green investment enhance the willingness of investment institutions to participate in green projects, and this effect is further reinforced when technological commercialization risk is reduced. The findings suggest that green innovation in small and medium-sized manufacturing enterprises is characterized by strong multi-actor interdependence. Its evolutionary outcome is shaped not only by regulatory pressure, but also by green financial support, the conditions for technological commercialization, and market demand. Accordingly, sustained green innovation in small and medium-sized manufacturing enterprises requires coordinated efforts to improve regulatory arrangements, strengthen green finance support systems, reduce the cost of technological commercialization, and cultivate green consumer markets. Full article

The intersection of financial innovation and environmental sustainability offers important opportunities for low- and middle-income (LMI) countries. This study examines the association between FinTech investment, geopolitical-economic uncertainty, urbanization, economic development, and carbon dioxide (CO₂) emissions in LMI countries. CO₂ emissions per capita are used as an environmental outcome indicator rather than as a direct measure of green finance. Using a panel dataset covering 2010–2021, the study applies fixed-effects panel regressions as the main empirical approach and reports one-step difference the Generalized Method of Moments (GMM) estimates as exploratory dynamic evidence. The fixed-effects results indicate that GDP per capita is positively and significantly associated with CO₂ emissions, while FinTech investment and urbanization do not show consistent significant associations. Geopolitical risk is positively associated with CO₂ emissions in some static specifications, but this association becomes insignificant once gross domestic product (GDP) per capita is included. The exploratory GMM results, estimated with collapsed instruments and restricted lag depth, do not provide statistically significant evidence that FinTech investment is associated with lower CO₂ emissions. Overall, the findings suggest that FinTech investment may be relevant for environmental outcomes in LMI countries, but its role is neither automatic nor uniform and remains sensitive to model specification. Policy implications emphasize the need to strengthen digital financial infrastructure, regulatory transparency, institutional stability, urban planning, and climate-oriented investment channels to support FinTech-driven environmental performance. Full article

This study examines the dynamic impact of geopolitical risk (GPR) and renewable energy consumption (RENE) on energy security in Egypt from 2000 to 2023. Given the increasing regional instability and Egypt’s strategic pivot toward a green economy, this research employs the Autoregressive Distributed Lag (ARDL) bounds testing approach, which is robust for small sample sizes and mixed integration levels. The empirical results provide preliminary evidence of a long-run negative relationship between geopolitical risk and energy security (coefficient: −11.92), suggesting that external political shocks may act as a deterrent to energy stability. Conversely, renewable energy is found to exert an indicative positive influence (coefficient: +1.17) on the energy security index. Notably, these long-run coefficients are significant at the 10% level, implying that while these variables represent emerging structural trends, they remain sensitive to high regional volatility and the evolving nature of the Egyptian energy sector. Diagnostic tests, including Jarque–Bera (0.92) and Breusch–Pagan–Godfrey (0.94) tests, support the model’s reliability, while CUSUM and CUSUMSQ tests indicate general parameter stability. The study suggests that while renewable energy integration shows potential for enhancing resilience, its current scale may not yet be sufficient to fully counterbalance the potential pressures of geopolitical shocks. Policy implications point toward the strategic value of “geopolitical hedging” through continued green investment, the expansion of strategic reserves, and the adoption of de-risking financial instruments like Green Sukuk to support long-term energy sovereignty as a precautionary measure. Full article

Climate change is one of the major global challenges of modern times. It also poses a significant threat to price stability—the major objective of modern central banks. It creates the risk of stagflation, as it can lead to price increases (due to the increased frequency of extreme weather events, which will impact food production) and simultaneously weaken economic activity (due to lower productivity resulting from temperature changes). Climate change and political pressure have sparked a lively scientific debate on whether and how central banks should adapt their monetary policy frameworks to support efforts to stop climate change. Although the literature analyzes actions undertaken by monetary authorities in the areas of sustainable finance and climate risk analysis, this research still needs to be developed and disseminated. Therefore, the main aim of this article is to theoretically analyze the integration of climate issues with the monetary policy of modern central banks. This article provides a theoretical and integrative analysis of the role of modern central banks in addressing climate change, with a particular focus on implications for monetary policy. The study is based on a structured critical literature review and desk research, employing a transparent, multi-stage selection and analysis process, based on the PRISMA approach. The article contributes to the existing literature by offering a systematic synthesis of the main approaches to integrating climate-related considerations into central banking. The analysis organizes the literature into distinct analytical strands, including institutional and coordination-based initiatives, theoretical justifications for central bank involvement, debates on mandates and independence and the development of green monetary policy instruments. The findings suggest that the integration of climate considerations into monetary policy is feasible primarily within a risk-based and prudential framework, while more interventionist approaches may generate tensions with the primary objective of price stability. At the same time, the literature reveals persistent trade-offs between market neutrality and active policy intervention, as well as between institutional constraints and policy effectiveness. The study highlights that climate-related measures are often implemented through macroprudential, supervisory and financial stability functions, which complement rather than substitute monetary policy in the strictest sense. The article contributes to a more coherent understanding of the evolving role of central banks in the context of climate change by synthesizing a fragmented body of research and identifying key conceptual tensions that remain unresolved. Full article

The transition toward carbon-neutral cities and sustainable infrastructure requires massive capital mobilization, yet traditional static valuation models like discounted cash flow (DCF) systematically undervalue green projects due to high initial capital expenditures and long-term uncertainty. To address this critical gap in sustainable finance, this study proposes a novel Artificial Intelligence–Blockchain–Multiple Real Options (AI-MRO) integrated framework. This model aligns infrastructure profitability with Environmental, Social, and Governance (ESG) criteria and United Nations Sustainable Development Goals (SDGs), specifically SDG 11 (Sustainable Cities), SDG 13 (Climate Action), and SDG 9 (Industry, Innovation, and Infrastructure). The core approach integrates AI-based probabilistic forecasting for carbon footprint optimization and cash flow prediction, MRO-based operational flexibility assessment, and blockchain-based smart contracts (Security Token Offerings, STOs) to ensure transparent green finance governance and social inclusion. Through empirical validation at Singapore’s Punggol Digital District (PDD)—a flagship smart city project featuring a district-level smart grid reducing 1700 tonnes of CO₂ and generating 3000 MWh of solar energy annually—this model successfully captured investment resilience (Extended Net Present Value, ENPV > 0) even in crisis scenarios where conventional DCF models failed. The results demonstrate that integrating digital twins and AI-driven ESG metrics structurally reduces the risk premium and amplifies the strategic value of sustainable investments. This study represents a substantial methodological contribution toward data-driven, automated, and transparent governance, offering a scalable financial framework for global net-zero infrastructure development. Full article

The persistence of greenwashing as a strategic corporate behavior reflects a financial tradeoff between risk and return. Current literature lacks an integrative framework explaining how these risks and institutional arrangements vary across distinct contexts. This study maps the intellectual structure and contextual heterogeneity of corporate greenwashing research through a bibliometric analysis of 818 publications indexed in the Web of Science Core Collection from 2000 to 2025. The results indicate an evolutionary shift in research focus from early ethical and reputational debates toward empirical investigations of capital market consequences, ESG controversies, and the dark side of corporate sustainability. This transition is accompanied by thematic movement from voluntary disclosure and legitimacy concerns toward mandatory compliance, sustainable finance, green bond pricing, and digital detection using artificial intelligence and natural language processing. The analysis reveals substantial structural heterogeneity. Heavy-asset industries are closely associated with technological decoupling under physical and compliance constraints, whereas financial and service sectors rely heavily on information asymmetry, green label arbitrage, and greenhushing. These sectoral patterns intersect with regional governance trajectories shaped by market-driven, regulation-oriented, and state-led contexts, generating distinct incentive structures and risk conditions, while firm-level governance further moderates these behaviors. The findings position greenwashing as a context-dependent corporate strategy and provide a structured synthesis for future research and differentiated regulatory responses. Full article

Saudi Arabia has consistently had low insurance penetration (around 0.89% of GDP over the previous three decades), which is far lower than the worldwide average and the goals set by Vision 2030. This research examines the factors influencing insurance penetration (INSP) in Saudi Arabia from 1990 to 2024, primarily testing the demand-following hypothesis which posits that sustainable economic growth acts as a key determinant of insurance demand. The Kingdom intends to diversify its economy as part of Vision 2030 by lowering its dependence on oil, boosting the use of renewable energy, expanding financial markets, and strengthening resilience. The insurance industry is becoming more and more important for managing risk, making green investments, and allocating long-term capital. The analysis employs annual data and the Autoregressive Distributed Lag (ARDL) bounds testing methodology to investigate both short- and long-term relationships between insurance penetration and five critical variables: sustainable economic growth (SD, indicated by GDP per capita growth), financial development (FD, domestic credit to the private sector as a percentage of GDP), renewable energy consumption (REC, percentage of total final energy consumption), trade openness (TO), and urbanization (URB). The main results show that the insurance industry is very route dependent. In the long term, sustainable economic growth, financial development, and the use of renewable energy all have big beneficial effects on insurance penetration. This shows how important they are for extending the insurable base and supporting green investments. Urbanization has a little negative but statistically weak long-term impact (coefficient −0.0056, p < 0.10), while trade openness does not have any effect at all. In the near term, using renewable energy is the biggest positive driver (coefficient 0.096, p < 0.01). This shows how important insurance is in paying for and reducing the risk of energy transition. These findings are resilient to CUSUM and CUSUMSQ stability assessments. This study makes a unique contribution to the field by presenting the first single-country cointegration analysis of an oil-rich economy undergoing structural transformation, directly correlating the adoption of renewable energy with insurance demand, supported by data extending to 2024. The results show that making insurance markets work with the Saudi Green Initiative through green insurance products, mandated coverage for private finance, and digital/micro-insurance aimed at city dwellers can help Vision 2030 targets be reached faster. Policy suggestions stress the need to combine insurance with changes in the financial and renewable energy sectors in order to reach greater penetration goals (which have recently been raised to 3.6–4.5% levels) and build a more diverse, strong, and low-carbon economy. Full article

The present study provides a high-frequency empirical assessment of the financial performance, volatility, and market integration of thematic sustainability-oriented equity funds, focusing on clean energy and environmental innovation indices. Specifically, the study compares the financial performance of representative thematic green equity funds, such as ICLN and QCLN, and an emerging-market benchmark (ECON) with conventional developed-market indices (SPY, QQQ, GSPC, and XLE) using daily stock prices from 2010 to 2025. The analysis employs a transparent and replicable framework based on daily logarithmic and cumulative returns and incorporates the compound annual growth rate (CAGR), Sharpe and Sortino ratios, beta estimation, correlation analysis, and maximum drawdown. The research frequency is appropriate for a thorough analysis of short-term market structures and performance. The results indicate that sustainability-oriented equity indices exhibit higher volatility, deeper drawdowns, and greater sensitivity to broad market movements than conventional benchmarks. Sustainability-focused equity indices that emphasize clean energy exhibit higher market sensitivity (betas above 1) and strong correlations with traditional equity indices. Correlation and beta estimates suggest a high degree of integration with traditional equity markets, implying limited diversification benefits within an equity-only framework. Periods of relative outperformance appear to be associated with favorable policy conditions and energy market dynamics, but are not consistently sustained over the sample period. In addition, the overall results suggest that sustainability investments generate substantial environmental and social externalities. Risk-adjusted performance measures suggest weaker historical performance over the sample period relative to conventional benchmarks. These findings should be interpreted as a comparative historical assessment rather than a structural risk model. From a policy perspective, the findings suggest that stable and credible regulatory frameworks, including long-term climate policy support and investment-enabling institutions, may be important for improving the financial resilience and long-term viability of green equity instruments. From a sustainability transition perspective, the observed volatility and market dependence of sustainability-oriented equity indices may constrain their effectiveness as standalone market-based financing mechanisms without complementary institutional and policy support. Full article

The transition to a circular economy creates winners and losers, challenging the assumption that green growth is inherently inclusive. While environmental benefits are documented, the distributional consequences remain poorly understood. This study analyzes how socioeconomic and labor inequalities shape the effectiveness of circular economy policies. Using panel data from 90 countries (2019–2024) combined with global governance indicators, we employ fixed-effects models, instrumental variables, and configurational analysis (fsQCA) to identify causal mechanisms. The results reveal a critical institutional threshold: circular economy policies reduce inequality only in countries with high institutional quality (WGI > 1.39). In contexts with weak institutions or positive Skill Structure Balance (SSB), these policies are regressive. Social protection and digital financial inclusion moderate these effects, acting as buffers against distributional risks. These findings challenge the “automatic social benefits” narrative, suggesting that environmental ambition requires parallel investments in institutional capacity and human capital to achieve a just transition. Full article

This study explores the environmental justice issues associated with landfill compensation policies in Bantargebang, Indonesia. Although compensation programs have been implemented for many years, communities living near landfills continue to experience ongoing environmental damage and significant health concerns. Using a qualitative descriptive method, this research explores systemic barriers through in-depth interviews, observations, and water quality analysis. The findings indicate that labeling the program as “Social Assistance” within the Local Government Information System (SIPD) redefines ecological compensation as a fixed form of charity, rather than as a mechanism for genuine environmental restitution. Laboratory data show severe bacteriological contamination, with Total Coliform levels reaching 95%, forcing residents to bear substantial “hidden costs” for clean water, perpetuating a cycle of financial dependence. The growing normalization of health hazards is evident in over 5000 annual cases of acute respiratory infections, and the deadly landslide in March 2026, in which claimed seven lives and injured six others. These incidents underscore the failure of existing remediation approaches to safeguard human dignity and well-being. To address these shortcomings, this study proposes the adoption of an Integrated Compensation Model based on Green Social Work. This model emphasizes structural investment, spatial risk-based indices using quantitative data, and budget coding adjustments within the SIPD. This approach highlights the urgent need to move beyond temporary charitable assistance and instead pursue meaningful environmental justice, while positioning social workers as “Social-Ecological Brokers” who help restore dignity and well-being in communities often treated as “sacrifice zones.” Full article

Against the backdrop of accelerating low-carbon transformation in the global energy system and decarbonization in the transportation sector, the widespread adoption of electric vehicles has intensified grid load imbalances and highlighted challenges in integrating intermittent renewable energy generation. Vehicle-to-Grid (V2G) technology has emerged as a key solution to these challenges. This paper systematically traces the global evolution of V2G technology from conceptualization to large-scale deployment, focusing on localized practices in China’s scaled V2G applications. It dissects the logic behind policy evolution, identifies three distinct Chinese V2G models—centralized, distributed, and battery-swapping—and validates the practical outcomes of representative pilot projects. Research reveals three core constraints hindering China’s large-scale V2G adoption: the absence of battery capacity degradation management mechanisms, fragmented standardization systems, and rigid market mechanisms. Based on this, the paper proposes recommendations for scaling V2G in China across three dimensions: power battery second-life utilization, standardization system construction, and market mechanism optimization. Furthermore, aligning with the global demand for large-scale V2G implementation, this paper proactively proposes innovative market models. These include establishing a coordinated trading mechanism between green power and V2G, developing a digitally driven distributed trust and transaction system, and exploring financialization and risk hedging models for battery assets. These concepts provide theoretical foundations and decision-making references for achieving high-quality, large-scale V2G applications worldwide. Full article