2.3. Interdisciplinary approaches

Recent academic research in green finance has increasingly adopted an interdisciplinary approach, combining insights from finance, environmental science, economics, and policy studies. This trend reflects the recognition that environmental challenges are complex and multifaceted, requiring a comprehensive understanding that spans various disciplines.

A notable example of this interdisciplinary research is the work of W. Zhang, Zhu, Liu, and Cheng (2022), who analyzed the effectiveness of green bonds in reducing greenhouse gas emissions. Their study combined financial analysis with environmental impact assessment, providing a holistic view of how green bonds contribute to climate change mitigation. This research highlighted the importance of integrating environmental science into financial studies to assess the real-world impacts of green finance instruments.

Rasoulinezhad and Taghizadeh-Hesary (2022); D. Zhang et al. (2022) offered another significant interdisciplinary contribution, exploring the role of green finance in promoting sustainable economic growth in Asia. Their study merged economic theories with environmental policy considerations, examining how green finance can be leveraged to support economic development while ensuring environmental sustainability. This research underscored the need for policy frameworks that facilitate the growth of green finance, ensuring that financial markets contribute effectively to sustainable development.

The interdisciplinary nature of recent research has also extended to legal studies. Richardson (2002) examined the legal and policy frameworks supporting green finance, emphasizing the role of regulatory environments in shaping the development and effectiveness of green finance instruments. This research highlighted the need for laws and policies that facilitate the growth of green finance while ensuring that it contributes meaningfully to environmental goals.