The Dual Dividend: An Integrative Review of Climate Finance’s Environmental and Economic Effectiveness
摘要
This paper examines the performance of climate finance with regard to the achievement of its intended outcome environmental advancement, and in regard to achieving its beyond intended target, which is the creation of economic development. The study seeks to conduct a synthesis of the available literature, determine the thematic pattern, develop a conceptual framework and make a guide for future studies. The key methodological consideration taken was the use of an integrative approach to review in order to give a comprehensive understanding of the effectiveness of climate finance. The Scopus-indexed articles were systematically analysed in a 2-stage procedure on an article-by-article basis of 1020 papers, and 115 quality publications were reviewed. The literature was analysed through the use of bibliometric tools as well as thematic analysis to chart research trends, major themes, and interconnections. The analysis identifies five priority thematic areas: Carbon Metrics & Policy, Climate Finance and Governance, Corporate ESG and Investment, Development and Energy Transition, and Global Policy and Adaptation. It also recognises the transformative power of climate finance to support innovation and development of green jobs, minimising disparities, and contributing to the global conversion to sustainable growth. The findings of study points to the dominant approach to mitigation, an increased focus on adaptation and resilience, and the emergence of innovation and environment and social governance-related finance as strategic prospects. The current paper can make a contribution to the body of literature by providing highly detailed coverage of the issue of climate finance effectiveness, which is under research. It fills out some current knowledge gaps and offers practical information that policymakers and funding agencies, and researchers can use. The research is restricted to Scopus-indexed journals and not the other possible sources such as conference proceedings and trade publications. In future studies, additional bibliometric databases can be used and sector-specific comparisons performed. Findings can inform stakeholders in making more effective climate finance policies and mechanisms through attracting investments and cross-sectoral cooperation. The inclusion and resiliency should characterise climate finance because, given that a community is diverse, inclusive and resilient, climate finance can support community well-being and community access to sustainable resources.