Research on the Environmental Effects of International Climate Aid Funds

Zhang Jin, Zhu Xudong

Studies of International Finance ›› 2024, Vol. 0 ›› Issue (11) : 28-39.

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PDF(1174 KB)
Studies of International Finance ›› 2024, Vol. 0 ›› Issue (11) : 28-39.

Research on the Environmental Effects of International Climate Aid Funds

  • Zhang Jin, Zhu Xudong
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Abstract

In the context of the increasingly serious climate problem and the huge funding gap, exploring the emission reduction effects and impact mechanisms of international climate aid funds for developing countries not only urges developed countries to fulfill their funding commitments and mobilize more social capital, but also provide a basis for further improving the efficiency of climate fund use in the future, helping accelerate the realization of global environmental governance and sustainable development.
Based on the endogenous growth model, this paper introduces international climate aid funds and then demonstrates theoretically. Meanwhile, it uses relevant data from 126 recipient countries in the OECD-DAC database from 2000 to 2019 to carry out an empirical test. The research conclusions are as follows. International climate aid funds significantly reduce carbon dioxide emissions and enhance the environmental quality of recipient nations. However, this environmental effect is significant in higher-income recipient countries, but less pronounced in lower-income countries. The international climate aid funds help reduce carbon emissions by fostering technological innovation and optimizing the energy structure of the recipient nations. In addition, China's long-term commitment to providing climate finance assistance to countries participating in the“Belt and Road”has also significantly reduced carbon emissions in these countries.
The marginal contributions of this paper are threefold. Firstly, by incorporating climate finance into the endogenous growth model, this study provides a theoretical analysis, enriching the foundation of research on the subject. Secondly, this study focuses on international climate aid finance provided by developed countries to developing countries, while defining the measurement indicator as climate mitigation finance, which makes the study more targeted and closer to reality. Thirdly, this study explores the mechanism by which international climate aid finance affects carbon emission reduction moving from theory to empirical analysis, deepening research in the field of climate finance.

Key words

International Climate Aid Funds / Environmental Effect / Carbon Emission / Technology Innovation / Energy Structure

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Zhang Jin, Zhu Xudong. Research on the Environmental Effects of International Climate Aid Funds[J]. Studies of International Finance, 2024, 0(11): 28-39

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