Environmental Regulation as a Moderator in the Nexus Between Green-Sector Venture Capital and CO₂ Emissions
環境規制がグリーンセクターのベンチャーキャピタルとCO₂排出量の関係に与える調整効果 (AI 翻訳)
ZAATIR Syrine, Houssam BOUZGARROU
🤖 gxceed AI 要約
日本語
2007-2021年の欧州21カ国を対象に、環境規制の厳格さがグリーンセクターへのベンチャーキャピタル（VC）投資とCO₂排出量の関係に与える調整効果を分析。FGLS推定やGMM等の手法を用いた結果、VC投資はCO₂削減に寄与し、特に新興国で効果が大きい。また、厳しい環境規制はVCの脱炭素効果を高めることを示した。規制と民間資金の補完的役割を実証。
English
This study examines how environmental regulation moderates the effect of green-sector venture capital (VC) on CO₂ emissions in 21 European countries from 2007 to 2021. Using FGLS and GMM estimations, it finds that VC investments significantly reduce CO₂ emissions, with stronger effects in emerging economies. Stricter environmental regulations enhance VC's decarbonization impact, highlighting the complementary roles of policy and private finance.
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
本研究は欧州のデータに基づくが、日本のグリーン成長戦略において、ベンチャーキャピタルと環境規制の補完的役割を示唆する点で参考になる。日本でも新興企業への投資促進と規制強化のバランスが重要。
In the global GX context
This paper provides empirical evidence on how regulatory stringency amplifies the impact of green venture capital on decarbonization, relevant for global frameworks like TCFD/ISSB that emphasize transition finance. It underscores the importance of strong environmental policies to maximize the effectiveness of private investment in climate solutions.
👥 読者別の含意
🔬研究者:Provides robust empirical evidence on the moderating role of environmental regulation in the VC-emissions nexus, useful for sustainable finance and environmental economics scholars.
🏢実務担当者:Corporate sustainability teams can use these findings to advocate for stronger regulatory environments that amplify the impact of green investments.
🏛政策担当者:Highlights that stringent environmental regulations complement private VC, suggesting a policy mix of regulatory tightening and VC incentives for effective decarbonization.
📄 Abstract（原文）
Abstract Venture capital (VC) is increasingly important for advancing clean technologies, yet its direct impact on CO₂ emissions remains insufficiently understood, especially within Europe’s diverse regulatory landscape. This study examines how environmental regulation moderates the effect of Green-sector VC investment on CO₂ emissions in 21 European countries from 2007 to 2021. Using FGLS estimations, alternative emission indicators, dynamic GMM, and extensive robustness checks, including subgroup analyses of advanced versus emerging economies and a pre-pandemic sample, we provide comprehensive evidence. The results show that VC investments significantly reduce CO₂ emissions, with the strongest effects in emerging economies. Moreover, stricter environmental regulations enhance VC’s decarbonization impact, highlighting the complementary roles of policy and private finance. Findings remain robust when excluding the COVID-19 period, contributing to sustainable finance research by showing how regulatory quality strengthens the effectiveness of VC in supporting Europe’s low-carbon transition. JEL Codes Q54; Q58; G24; O32; Q56
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.21203/rs.3.rs-8612340/v1first seen 2026-05-14 21:38:14
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。