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role of green and transition finance in achieving carbon neutrality and sustainable energy
The Role of Green and Transition Finance in Achieving Carbon Neutrality and Sustainable Energy offers a thorough yet accessible exploration of a vital, often overlooked aspect of the energy transition. Authored by leading experts, this book is organized into three sections: fundamentals of green and transition finance, their role in achieving carbon neutrality and ESG goals, and the policies that drive the energy transition. Readers will gain insights into financial instruments and mechanisms influencing global financial markets and the energy sector, focusing on ESG factors. This book covers strategies that support sustainable, green, and net-zero innovations and includes diverse tools, case studies, and global perspectives to help readers design policies, model outcomes, and track progress. From foundational theory to complex, country-level case studies, this book is an essential guide for students, policymakers, and researchers in energy and financial markets. Written in clear, policy-oriented language, it suits readers from diverse backgrounds.
Front Cover -- The Role of Green and Transition Finance in Achieving Carbon Neutrality and Sustainable Energy -- The Role of Green and Transition Finance in Achieving Carbon Neutrality and Sustainable Energy -- Copyright -- Contents -- Contributors -- Introduction -- I -- Overview of green and transition finance -- 1 -- The state of transition finance in Korea: Framework and practice -- 1. Introduction -- 2. Path to net-zero and policy initiatives -- 2.1 Challenges facing the Korean economy -- 2.2 Energy mix roadmap -- 2.3 Policy initiatives -- 2.3.1 The Korean Green New Deal (2020) -- 2.3.2 Carbon neutrality and Green Growth Act (2021) -- 3. Significant transition risk -- 3.1 Transition sector taxonomy in Korea -- 3.1.1 Greenhouse gas reduction by SMEs -- 3.1.2 LNG and blended gas energy production -- 3.1.3 Nuclear energy production -- 3.1.4 Blue hydrogen production -- 3.1.5 Eco-friendly ship construction and introduction -- 3.2 Enhancing the effectiveness of K-taxonomy for carbon neutrality -- 4. Current state of transition finance in Korea -- References -- Further reading -- 2 -- Japan's Green Transformation Policy challenges and ESG investments -- 1. Introduction -- 2. Current status of ESG investment in Japan -- 3. Overview of green transformation policy -- 4. Challenges for green transformation policy: ESG investments and carbon pricing -- 4.1 ESG investments -- 4.2 Carbon pricing -- 5. Challenges for green transformation policy: Energy -- 5.1 Renewable energy -- 5.2 Nuclear energy -- 5.3 Fossil fuel energy -- 6. Challenges for green transformation policy: Industry -- 6.1 R&amp -- D industry -- 6.2 Manufacturing industries -- 6.2.1 Iron and steel industry -- 6.2.2 Automobile industry -- 6.3 Small- and medium-sized enterprises -- 7. Impacts of green transformation policy on Japan's companies and economy -- 8. Concluding remarks.
Acknowledgments -- References -- 3 -- Role of banks and nonbanking financial institutions in accelerating ESG investments: Perspectives from ASEAN -- 1. Introduction -- 2. ESG investment: Current practices -- 2.1 Market dynamics -- 2.2 ESG investment strategies -- 2.3 ESG investment approaches -- 3. ASEAN ESG scenario -- 3.1 ASEAN economy -- 3.2 Sustainable development practices in ASEAN member countries -- 3.2.1 Environmental challenges -- 3.2.2 Social and governance challenges -- 3.2.3 Implementation of ESG practices -- 4. Proposed ecosystem for boosting ESG investment -- 4.1 The ecosystem -- 4.2 Ensuring effectiveness of the of ecosystem -- 4.2.1 Ensuring regulatory requirements -- 4.2.2 ESG system integration -- 4.2.3 Rating the ESG projects -- 4.2.4 Customized portfolio development -- 5. Conclusion and policy recommendations -- References -- 4 -- State-backed structured finance: Mobilizing capital for a net-zero society through blended finance, securitizat ... -- 1. Introduction -- 1.1 Background -- 1.2 Literature review -- 2. Blended finance -- 2.1 Need for blended finance -- 2.2 Role of public sector capital -- 2.3 Role of philanthropic capital -- 2.4 Limits and barriers -- 2.5 Recommendations -- 3. Securitization -- 3.1 Need for securitization -- 3.2 Role of securitization -- 3.3 Limits and barriers -- 3.4 Policywise solutions and recommendations -- 4. Financial incentives -- 4.1 Need for VCM -- 4.2 Role of VCM -- 4.3 Limits and barriers -- 4.4 Policywise solutions and recommendations -- 5. Holistic Approach-Structured Transition Finance -- 6. Conclusion -- AI disclosure -- References -- II -- Green and transition finance for meeting carbon neutrality and ESG goals -- 5 -- Unveiling the potential and perspectives of ESG investments in Vietnam -- 1. Introduction -- 2. Literature review -- 2.1 ESG investing: Definitions and impact.
2.2 Green and transition finance: A tool to promote ESG investment -- 2.3 ESG investments in East and Southeast Asia -- 3. Analysis of ESG investments in Vietnam -- 3.1 Potential for ESG investment in Vietnam -- 3.1.1 Environmental factors -- 3.1.2 Social factors -- 3.1.3 Governance factors -- 3.1.4 Green and transition finance -- 3.1.4.1 Green bonds and green credit -- 3.1.4.2 Carbon credit market -- 3.1.4.3 Just Energy Transition Partnership -- 3.2 Technology helps promote ESG investment in Vietnam -- 3.3 The impacts of the pandemic on ESG investment in Vietnam -- 3.4 Challenges for ESG investment in Vietnam -- 3.5 What can be done to improve ESG investment in Vietnam? -- 3.5.1 The role of government -- 3.5.2 The role of international efforts and collaborations -- 3.5.3 Potential areas for ESG investments in Vietnam -- 3.5.4 Learning from international experiences -- 4. Concluding remarks -- References -- 6 -- What spurs ESG performance?: Evidence from Chinese capital market liberalization -- 1. Introduction -- 2. Literature review -- 3. Institutional background -- 4. Data -- 4.1 Sample -- 4.2 Main outcome variable -- 4.3 Empirical strategy -- 5. Results -- 5.1 Baseline results -- 5.2 Mechanisms -- 5.2.1 Advanced institutional investors -- 5.2.2 Availability of low-cost capital -- 5.3 Heterogeneity -- 5.3.1 Financial constraints -- 5.3.2 Ownership -- 5.3.3 Market attention -- 5.4 Business sustainability -- 5.5 Robustness -- 5.5.1 Parallel trend -- 5.5.2 Placebo test -- 5.5.3 PSM test -- 5.5.4 Corporate ESG practice -- 5.5.5 Exclude sample from SZKC -- 5.5.6 Employing ESG proxy developed by SSI -- 6. Conclusion and policy recommendations -- References -- 7 -- Can venture capital coinvestments address cleantech underfunding? -- 1. Introduction -- 2. The energy transition and the financing of cleantech.
3. VC investments in the cleantech sector: Some evidence -- 4. Research hypothesis, data, and methodology -- 4.1 Research hypothesis -- 4.2 Data and methodology -- 4.2.1 Dependent variables -- 4.2.2 Independent variables -- 4.2.3 Control variables -- 4.2.4 Descriptive statistics -- 5. Empirical results: Fund-level analysis -- 5.1 Empirical results: Company-level analysis -- 6. Conclusions and policy recommendations -- References -- 8 -- Bridging the climate finance gap in China: Information challenges -- 1. Introduction -- 2. Understanding climate finance -- 3. State of green and transition finance in China -- 4. Theories of finance and investment -- 5. Importance of information -- 6. Information issues for China -- 6.1 Definitions and standards -- 6.2 Disclosure and reporting -- 6.3 Evaluation issues -- 7. Private risk reduction and blended finance -- 8. Conclusion and policy recommendations -- References -- III -- Policies for facilitating the energy transition -- 9 -- Role of the inflation reduction acts in financing hydrogen energy projects: Opportunities and challenges -- 1. Introduction -- 2. Literature review and hypothesis -- 2.1 What is green hydrogen: The fuel of the future -- 2.2 Green finance on environment investment in three countries -- 2.2.1 Case 1: The IRA's clean hydrogen production tax credits in the United States: What is driving the high level of interest in ... -- 2.2.2 Robustness analysis: IRA scenario analysis -- 2.2.3 Case 2: EU green deal industrial plan -- 2.2.4 Case 3: India green hydrogen policy -- 3. Effectiveness of the inflation reduction actions in promoting the energy transition -- 3.1 Financial incentives and market signals -- 3.2 Technological advancement and industrial decarbonization -- 3.3 Economic and environmental impacts -- 3.4 Case studies and empirical evidence -- 3.5 Conclusion.
4. Methodology and empirical results -- 5. Conclusion and policy recommendations -- 5.1 Policy recommendations for green hydrogen and transition finance -- 5.2 Conclusion -- References -- 10 -- The role of governments in unlocking private investments in green energy projects -- 1. Introduction -- 2. Barriers to private investment in green projects -- 2.1 Financial barriers -- 2.1.1 Lack of access to long-term investment -- 2.1.2 Risk of default -- 2.1.3 Low return on investment -- 2.2 Nonfinancial barriers -- 3. How can the government unlock private investment in green energy projects? -- 3.1 Overarching policy support -- 3.1.1 Renewable energy targets -- 3.1.2 Feed-in tariffs -- 3.1.3 Tax incentives -- 3.1.4 Standards -- 3.2 Public financing instruments -- 3.2.1 Lending (debt) -- 3.2.2 Green bonds -- 3.2.3 Subsidies and grants -- 3.2.4 Equity investment -- 3.2.5 Insurance and loan guarantees -- 3.2.6 Public-private partnerships -- 4. Capacity building and skill development -- 5. Supportive policies to unlock private investment for green projects in Iran -- 6. Conclusion and policy recommendations -- References -- Further reading -- 11 -- A progress of renewable energy transition finance in ASEAN -- 1. Introduction -- 2. Literature review: Transition finance within renewable energy transition policy design and financing system -- 3. Methodology -- 4. Financing renewable energy transition in ASEAN -- 4.1 Regulation and political commitment of AMS toward renewable energy transition -- 4.2 Implementation of renewable energy financing -- 5. Discussions -- 5.1 The presence of green taxonomies and sustainable finance roadmap in ASEAN -- 5.2 Attractiveness of ASEAN financing landscape -- 5.2.1 Financing instrument -- 5.2.2 Financing environment -- 5.2.3 Financing channel -- 6. Conclusion -- References.
12 -- Green finance for energy transition, energy poverty alleviation, and energy security.
edited by Suk Hyun, Farhad Taghizadeh-Hesary, Inhyung Lee, Bing Xu.