グリーンファイナンスと持続可能な投資が低炭素経済への移行を支える財務的・制度的経路
Financial and institutional pathways through which green finance and sustainable investment support the transition toward low-carbon economies (原題)
Youssef Khalil
🤖 gxceed AI 要約
日本語
本論文は、グリーンファイナンスと持続可能な投資が低炭素経済への移行にどう寄与するかを、近年の理論・実証研究のレビューを通じて検討する。グリーンボンドやESG投資、気候関連金融政策は資本配分に影響を与え得るが、その有効性は認証の信頼性、情報の透明性、リスク分担、制度的枠組みに強く依存する。気候リスクは資産価格やポートフォリオ判断に徐々に織り込まれ、再生可能エネルギー導入やグリーン技術投資、サプライチェーンの持続可能化を後押しする。結論として、金融発展が技術・組織・生産の具体的変化に結びつくとき、持続可能な金融は最も効果的に低炭素移行に貢献する。
English
This review examines how green finance and sustainable investment support the low-carbon transition, synthesizing recent theoretical and empirical work. Green bonds, ESG-oriented investment and climate-related financial policies can shift capital allocation, but effectiveness hinges on credible certification, transparency, risk-sharing and supportive institutions. Climate risk is increasingly priced into assets, and green finance can drive renewable deployment, green technology investment and sustainable supply chains. Sustainable finance contributes most when financial development translates into concrete technological and productive change.
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
SSBJ基準や有報でのサステナビリティ開示、移行金融の議論が進む日本にとって、グリーンファイナンスの有効性条件（認証・透明性・リスク分担）は政策的示唆が大きい。国内のGX経済移行債やトランジション・ファイナンスの設計にも参照可能。
In the global GX context
Amid TCFD/ISSB-aligned disclosure and the growth of transition finance, this review reinforces that green finance's impact depends on credible certification, transparency and institutional design—directly relevant to CSRD, SEC climate rules and global transition-finance frameworks.
👥 読者別の含意
🔬研究者:グリーンファイナンスと脱炭素の因果経路に関する既存研究の整理として、実証研究の出発点に有用。
🏢実務担当者:グリーンボンドやESG投資の効果を最大化するには認証・情報開示・リスク分担の整備が鍵となると示唆。
🏛政策担当者:気候関連金融政策や移行金融の制度設計において、透明性と認証の信頼性確保が有効性を左右する点を考慮すべき。
📄 Abstract（原文）
This paper examines the relationship between green finance, sustainable investment and the transition toward low-carbon economies by reviewing the main theoretical and empirical contributions developed in recent literature. The analysis focuses on three complementary dimensions: the institutional and financial foundations of green finance, the integration of sustainability and climate risk into investment and asset-pricing decisions, and the capacity of sustainable finance to generate measurable changes in production, technological adoption and economic decarbonization. The reviewed studies show that green bonds, green loans, ESG-oriented investment and climate-related financial policies can influence capital allocation, but their effectiveness depends strongly on credible certification, transparent information, appropriate risk-sharing mechanisms and supportive institutional frameworks. The literature also indicates that carbon exposure and climate risk are progressively incorporated into asset prices and portfolio decisions, while investor preferences increasingly affect demand for environmentally responsible securities. Beyond financial markets, the evidence suggests that green finance can support renewable-energy deployment, green technological investment, sustainable supply-chain practices and improvements in green total factor productivity. The overall conclusion is that sustainable finance contributes most effectively to low-carbon transition when financial development is translated into concrete technological, organizational and productive changes capable of reducing the environmental intensity of economic activity.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.5281/zenodo.22773653first seen 2026-09-17 04:47:25 · last seen 2026-09-17 04:47:27
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