Speaker
Description
As global efforts to tackle climate change accelerate, harmonising financial regulation with sustainability objectives has emerged as a crucial yet inconsistent endeavour across different economies. This study examines the global landscape of green finance regulation by identifying critical gaps and structural disparities in policy coherence, implementation, and effectiveness between developed and emerging economies. To achieve this, the research utilises network analysis and content analysis applied to a dataset comprising over 100 national plans from 32 economies and country groupings. This approach will help to map the structure and interconnections of green finance policies while extracting dominant themes and strategic focuses at both the global and national levels. The analysis reveals that developed economies possess relatively comprehensive policy networks, characterised by strong connections between financing arrangements and climate transition strategies. An analysis of the frameworks employed by developed economies reveals a frequent use of terms such as "climate," "finance," "sustainable," and "net zero," which indicates a sophisticated integration of sustainability principles. In contrast, emerging economies tend to have denser and more fragmented policies that prioritise external financial support and economic growth over regulatory coherence. A critical challenge affecting all regions is the absence of established methods for assessing sustainability metrics. This gap significantly increases the risk of greenwashing and ultimately undermines the credibility of green finance initiatives. The findings also suggest that the institutional capacity of financial actors to serve as key centres for policy implementation is directly linked to the maturity of green finance regulation. The study emphasises the crucial need for more integrated regulatory frameworks, enhanced government support, cross-sectoral collaboration, and technological advancements to strengthen transparency, risk assessment, and the longevity of green finance initiatives. The study also improves the overall understanding of the dynamics of green finance regulation, providing a strategic framework for policymakers and stakeholders seeking to strengthen financial sustainability and resilience in diverse economic contexts.
Acknowledgement. "This work was supported by a grant from the Romanian Ministry of Research, Innovation and Digitalization, the project with the title "Economics and Policy Options for Climate Change Risk and Global Environmental Governance" (CF 193/28.11.2022, Funding Contract no. 760078/23.05.2023), within Romania's National Recovery and Resilience Plan (PNRR) - Pillar III, Component C9, Investment I8 (PNRR/2022/C9/MCID/I8) - Development of a program to attract highly specialised human resources from abroad in research, development and innovation activities."
