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<p>Environmental degradation, largely attributable to emissions of carbon dioxide and other greenhouse gases, represents the most significant concern for global policymakers. Therefore, investing in green technologies and renewable energy sources has become important. Consequently, transitioning toward green technologies and renewable energy is not just important but necessary for a sustainable future. Finance, particularly international finance, is considered the main source for funding the transition to a green economy. The primary objective of this study is to investigate the impact of financial globalization on green investment in the top 41 carbon-emitting economies from 1998 to 2021 using advanced econometric estimators such as the cross-sectionally augmented autoregressive distributed lag (CS-ARDL) model. Our results confirm that financial globalization positively fosters green investment in the short and long run. Particularly, the estimate suggests that a 1% increase in financial globalization leads to a 3.14% increase in green investment in the long run and a 2.81% increase in the short run. Likewise, the higher GDP also led to the promotion of green investment in the long run, and ICT also promotes green investment only in the long run. Global policymakers need to focus on pooling financial resources to foster investment in eco-friendly technologies and renewable energy sources.</p>

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Greening the future: the dynamics of green investment under financial globalization

  • 期刊论文

  • 发表日期：

    2026年7月14日

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  • Ilhan Ozturk,
  • Sidra Sohail,
  • Sana Ullah,
  • Muhammad Tariq Majeed,
  • Muhammad Tayyab Sohail

摘要

Environmental degradation, largely attributable to emissions of carbon dioxide and other greenhouse gases, represents the most significant concern for global policymakers. Therefore, investing in green technologies and renewable energy sources has become important. Consequently, transitioning toward green technologies and renewable energy is not just important but necessary for a sustainable future. Finance, particularly international finance, is considered the main source for funding the transition to a green economy. The primary objective of this study is to investigate the impact of financial globalization on green investment in the top 41 carbon-emitting economies from 1998 to 2021 using advanced econometric estimators such as the cross-sectionally augmented autoregressive distributed lag (CS-ARDL) model. Our results confirm that financial globalization positively fosters green investment in the short and long run. Particularly, the estimate suggests that a 1% increase in financial globalization leads to a 3.14% increase in green investment in the long run and a 2.81% increase in the short run. Likewise, the higher GDP also led to the promotion of green investment in the long run, and ICT also promotes green investment only in the long run. Global policymakers need to focus on pooling financial resources to foster investment in eco-friendly technologies and renewable energy sources.