GX & Decarbonization Research

Bronstering G.

This paper discusses how the European Central Bank (ECB) can leverage the EU's sustainable finance framework to build a coherent green macrofinancial regime that secures climate objectives and price stability. It explores policy tools and i…

Anna-Lena Herforth, Karolin Kirschenmann

This paper discusses transition finance as the financing of economic transformation, highlighting its emerging concept and the need for sharper contours. It promises new impulses for both research and practice.

Maurizio Pompella, Nicos Scordis

This paper conceptualizes decarbonization as a wicked problem, introducing a risk-based framework for transition risk. Using ESG data and Scope 1-3 emissions from eight global automotive firms (2017-2023), it develops a Decoupling Index to …

Xu A.

This study uses China's green finance reform and innovation pilot zones as a quasi-natural experiment to empirically analyze the impact of green finance policy on inclusive green growth. It evaluates the policy's effectiveness and considers…

Mertens D.

This paper analyzes the political dynamics of sustainable finance policy in the EU, examining regulatory-market interactions and stakeholder influences to reveal challenges and opportunities for achieving sustainable finance.

Dikau S.

This paper analyzes China's central bank use of window guidance to promote green lending. It examines the effectiveness and challenges of this monetary policy tool in steering sustainable investment.

Wang W.

This paper examines the impact of green finance reform on corporate green innovation using a quasi-natural experiment. It identifies causal effects and offers policy implications.

Wang Y.

This paper analyzes the role of policy integration between green bond markets and renewable energy development in achieving carbon neutrality. It examines how green bonds facilitate financing for renewables and evaluates the effectiveness o…

Lorenzo Mercuri, Andrea Perchiazzo, Edit Rroji +1

This paper introduces a new market-implied object, Time to Transition (TtT), extracted from the greenium term structure. It develops two stochastic frameworks: a deadline-constrained model and a switching extension, along with finite-sample…

A. Zaporozhets, V. Khaustova, M. Kyzym +1

This study proposes a conceptual model and multi-level governance framework for sustainable financing of energy system development toward decarbonization. Global clean energy investment reached about $2 trillion in 2024, but a 1.7x increase…

A. Dorado, Milton Gimenez Melero

This article provides a systematic comparative analysis of 49 national and three regional green and sustainable taxonomies as of July 2025. It finds convergence on climate mitigation and adaptation but divergence on biodiversity and social …

Byounguk Keum, Jihyung Joo, Taewoo Roh

This paper systematically reviews green taxonomy research using bibliometric analysis, identifying three thematic clusters and research gaps. It notes over-reliance on EU contexts and calls for more comparative and implementation-focused st…

Ruxia Lyu, Zhitang Li, Reza Zanjirani Farahani

This paper analyzes supplier financing mechanisms for green transformation under carbon regulation. It shows that when traditional trade credit fails, energy performance contracts (EPC) succeed. Provides new insights for corporate decarboni…

Akorede K. Oluwo

This paper systematically categorizes environmental finance instruments aimed at GHG abatement and transition risk management, including green bonds, transition bonds, and carbon credits. It analyzes their features and case studies from fir…

V. Zhelyazkova

This paper examines the integration of climate transition risk into EU banking supervision, reviewing ECB and EBA guidelines, stress testing practices, and strategic adaptations by banks. It highlights challenges in scenario design and risk…

Li Jia, Qingcai Meng

This paper explores how digitalization amplifies green finance, focusing on financing green innovation. It analyzes the role of digital technologies in enhancing green finance mechanisms and provides implications for policy and practice.

Nicholas S.P. Tay, Sun-Young Park

This study develops an integrated framework to reframe finance theory within planetary boundaries. It argues the neoclassical paradigm cannot price risks from breaching Earth-system thresholds, proposing an embedded firm model within biophy…

Chien-Chiang Lee, Liujun Wang, Jiangnan Li

This study analyzes the impact of green finance policy (GFP) on the new energy system (ES) using Chinese A-share listed firms from 2010-2023. Using DID, it finds GFP positively affects ES. Information disclosure strengthens this effect, whi…

Parmod Kumar, Padam Bhushan, Ercan Özen

This chapter examines the evolution of green bonds from multilateral issuances to widespread adoption, analyzing their use-of-proceeds model and regulatory frameworks. It identifies challenges such as fragmented standards, high certificatio…

Mladen Savić, Toma Marjanović

This paper analyzes the key role of banks in mobilizing capital for the green transition by integrating ESG criteria and managing sustainability risks. It shows that ESG integration changes credit risk management and enables banks to contri…