Financial system development and climate goals: reducing carbon intensity through inclusion and regulation in BRICS
金融システムの発展と気候目標：BRICSにおける包摂と規制を通じた炭素強度の削減 (AI 翻訳)
MD T Islam, Atik Hasan, Mohammad Ridwan, Imran Hossain, Md. Emran Hossain, Foday Joof
🤖 gxceed AI 要約
日本語
この研究は、BRICS諸国における金融システムの各要素（銀行部門の発展、金融包摂、株式市場の資本化、貨幣供給の拡大、経済成長）が炭素強度に与える影響を、2000年から2022年のパネルデータを用いて分析しました。パネル分位回帰の結果、銀行部門の発展はほとんどの分位で炭素強度を有意に低下させる一方、株式市場の資本化は炭素強度を上昇させることが示されました。金融包摂は中央値以上の分位で炭素強度を低下させるが、低排出の文脈では初期の金融アクセスが排出を増加させる可能性があります。政策当局は、銀行部門の強化と金融包摂を優先し、株式市場の活動と金融政策を規制することで、持続可能な発展を促進すべきです。
English
This study examines the impact of financial system components—banking sector development, financial inclusion, stock market capitalization, monetary expansion, and economic growth—on carbon intensity in BRICS countries from 2000 to 2022. Using panel quantile regression, it finds that banking sector development significantly reduces carbon intensity across most quantiles, while stock market capitalization increases it. Financial inclusion lowers carbon intensity at median and higher quantiles, but early-stage access may raise emissions in low-emission contexts. Policymakers should prioritize banking sector enhancements and regulate stock market activities to mitigate carbon intensity.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
BRICSを対象とした研究だが、金融包摂や銀行部門の発展が炭素強度に与える影響は、日本のGX戦略における金融政策や地域金融機関の役割を考える上でも示唆に富む。特に、低排出段階での金融アクセスの影響は、日本の中小企業へのグリーンファイナンス普及にも注意を促す。
In the global GX context
This paper provides empirical evidence on how different financial system dimensions affect carbon intensity, relevant for global climate finance debates. It underscores the dual role of financial inclusion and banking sector development in decarbonization, offering insights for emerging economies adapting their financial regulations to meet climate goals.
👥 読者別の含意
🔬研究者:Researchers studying finance-climate nexus will find nuanced effects across carbon intensity quantiles, especially the contrasting impacts of banking sector and stock market.
🏢実務担当者:Corporate sustainability teams can use findings to advocate for green financing mechanisms via banking sector engagement, especially in emerging markets.
🏛政策担当者:Policymakers in BRICS and similar economies should note the need to regulate stock market financing and promote banking sector green lending to reduce carbon intensity.
📄 Abstract（原文）
Environmental sustainability poses a paramount policy imperative for emerging markets, especially the BRICS bloc, which commands a significant portion of worldwide production and greenhouse gas emissions. Leveraging data from 2000 to 2022, this research investigates the influence of key financial system facets, including overall financial development, banking sector development, financial inclusion, stock market capitalization, monetary expansion, and economic growth, on carbon intensity within these economies, with interpretations constrained to this timeframe. Employing panel quantile regression, the study elucidates varying impacts across the carbon intensity spectrum. Findings reveal that banking sector development significantly diminishes carbon intensity in most quantiles, emphasizing its capacity to bolster eco-friendly production and green financing initiatives. Financial inclusion also contributes to lower carbon intensity at the median and higher quantiles, although early-stage financial access can increase emissions in lower-emission contexts. Conversely, Stock market capitalization is associated with higher carbon intensity across all quantiles, underscoring the carbon-intensive nature of stock market-financed growth in the region. Monetary expansion exhibits a modest mitigating effect that is statistically significant only at the median quantile, indicating its efficacy hinges on specific conditions. Economic growth, meanwhile, amplifies carbon intensity at higher quantiles. Policymakers in BRICS nations should prioritize banking sector enhancements and financial inclusion while regulating stock market activities and monetary policies to mitigate carbon intensity and advance sustainable development.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1007/s43621-026-03385-5first seen 2026-06-05 04:58:09
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