research topics in green economics

Environmental Economics Research Paper Topics

This comprehensive guide to environmental economics research paper topics is designed to assist students and researchers in selecting a subject for their study. Environmental economics, a field at the intersection of economics and environmental science, offers a wide array of topics that explore the economic aspects of environmental issues. From policy and natural resource economics to sustainability and climate change, this guide provides a diverse list of topics to inspire your research journey. Additionally, it offers expert advice on choosing a topic and writing a research paper in environmental economics. The guide also introduces iResearchNet’s writing services, which offer custom research papers on any topic in environmental economics, ensuring high-quality, in-depth research, and timely delivery.

Environmental economics is a fascinating field that combines the principles of economics with the study of environmental issues. It seeks to understand the economic impacts of environmental policies and to develop solutions that can balance economic growth with environmental sustainability. Here is a comprehensive list of environmental economics research paper topics that you can explore:

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Environmental Policies and Economic Growth

• The impact of environmental regulations on economic growth.
• The role of green taxes in promoting sustainable development.
• The economic benefits of renewable energy policies.
• The cost-effectiveness of carbon pricing mechanisms.
• The impact of environmental policies on job creation.
• The role of government subsidies in promoting green technologies.
• The economic implications of the Paris Agreement.
• The effect of environmental policies on industrial competitiveness.
• The role of environmental policies in shaping market behavior.
• The economic feasibility of transitioning to a circular economy.

Natural Resource Economics

• The economic valuation of natural resources.
• The role of property rights in natural resource management.
• The economic implications of overfishing.
• The impact of mineral extraction on local economies.
• The economics of water scarcity.
• The role of economic incentives in promoting sustainable forestry.
• The impact of climate change on agricultural economics.
• The economic costs and benefits of biodiversity conservation.
• The role of natural resources in economic development.
• The economic implications of soil degradation.

Environmental Cost-Benefit Analysis

• The use of cost-benefit analysis in environmental decision making.
• The challenges of monetizing environmental benefits.
• The role of discount rates in environmental cost-benefit analysis.
• The use of cost-effectiveness analysis in environmental policy.
• The limitations of cost-benefit analysis in addressing environmental justice issues.
• The role of cost-benefit analysis in climate change mitigation strategies.
• The use of multi-criteria analysis in environmental decision making.
• The role of risk analysis in environmental cost-benefit analysis.
• The impact of uncertainty on environmental cost-benefit analysis.
• The use of cost-benefit analysis in ecosystem service valuation.

Economics of Climate Change

• The economic impacts of climate change.
• The role of carbon markets in mitigating climate change.
• The economic feasibility of climate change adaptation strategies.
• The impact of climate change on global trade.
• The role of climate finance in promoting low-carbon development.
• The economic implications of sea level rise.
• The impact of climate change on agricultural productivity.
• The role of economic modeling in climate change projections.
• The economic costs and benefits of geoengineering.
• The impact of climate change on energy economics.

Environmental Justice and Economics

• The economic dimensions of environmental justice.
• The role of economic inequality in environmental degradation.
• The impact of environmental policies on marginalized communities.
• The role of green jobs in promoting environmental justice.
• The economic implications of environmental racism.
• The impact of environmental displacement on economic wellbeing.
• The role of economic empowerment in promoting environmental justice.
• The economic costs of environmental health disparities.
• The impact of environmental gentrification on urban economies.
• The role of economic policy in addressing environmental justice issues.

Green Economy and Sustainable Development

• The economic benefits of transitioning to a green economy.
• The role of green jobs in sustainable development.
• The economic implications of sustainable consumption and production.
• The impact of green growth strategies on economic competitiveness.
• The role of green finance in promoting sustainable development.
• The economic implications of the circular economy.
• The impact of green innovation on economic growth.
• The role of sustainable tourism in the green economy.
• The economic feasibility of green infrastructure projects.

Environmental Economics and Policy

• The economic impacts of environmental regulations.
• The role of economic incentives in environmental policy.
• The impact of environmental taxes on economic behavior.
• The role of trade policy in environmental protection.
• The economic implications of the polluter pays principle.
• The impact of environmental subsidies on market behavior.
• The role of economic instruments in biodiversity conservation.
• The economic feasibility of ecosystem service payments.
• The impact of environmental policy on economic competitiveness.
• The role of economic analysis in environmental policy making.

Economics of Energy and Environment

• The economic impacts of renewable energy policies.
• The role of energy economics in environmental sustainability.
• The impact of fossil fuel subsidies on the environment.
• The role of energy efficiency in economic growth.
• The economic implications of the energy transition.
• The impact of energy prices on environmental quality.
• The role of energy policy in climate change mitigation.
• The economic feasibility of carbon capture and storage.
• The impact of energy security on environmental sustainability.
• The role of energy markets in environmental protection.

Environmental Economics and Agriculture

• The economic impacts of agricultural pollution.
• The role of agricultural economics in environmental sustainability.
• The impact of agricultural subsidies on the environment.
• The role of sustainable agriculture in economic development.
• The economic implications of organic farming.
• The impact of agricultural trade on the environment.
• The role of agricultural policy in environmental protection.
• The economic feasibility of agroecology.
• The impact of agricultural innovation on environmental sustainability.
• The role of agricultural markets in environmental protection.

Environmental Economics and Urbanization

• The economic impacts of urban pollution.
• The role of urban economics in environmental sustainability.
• The impact of urban sprawl on the environment.
• The role of sustainable urban development in economic growth.
• The economic implications of urban green spaces.
• The impact of urban transportation on environmental quality.
• The role of urban planning in environmental protection.
• The economic feasibility of green buildings.
• The impact of urbanization on biodiversity.
• The role of urban infrastructure in environmental protection.

These environmental economics research paper topics cover a wide range of issues in the field of environmental economics, from policy and law to energy and agriculture. They provide a starting point for your research and can be tailored to fit your specific interests and the requirements of your assignment. Remember, choosing the right topic is the first step in writing a successful research paper. So take your time, explore these topics, and choose one that you find interesting and meaningful.

Environmental Economics Research Guide

Environmental economics is a vital field that examines the interplay between economic systems and the environment. As our world faces increasingly complex environmental challenges, understanding the economic dimensions of these issues becomes crucial for developing effective solutions. This page aims to provide a comprehensive resource for students studying environmental science and seeking research paper topics in the field of environmental economics.

Environmental economics focuses on analyzing the costs and benefits associated with environmental policies, natural resource management, pollution control, and sustainable development. It explores the ways in which economic activities impact the environment and how environmental factors influence economic decision-making. By studying environmental economics, students gain insights into the intricate relationship between human activities and the natural world, enabling them to propose informed strategies for sustainable development.

For students pursuing a degree in environmental science, conducting research in environmental economics offers a unique perspective on addressing environmental challenges. It provides a framework to assess the economic implications of environmental issues and develop innovative solutions that balance ecological sustainability and economic prosperity. Research papers in environmental economics not only contribute to the academic discourse but also equip students with the knowledge and skills necessary to effect positive change in their future careers.

The purpose of this page is to serve as a valuable resource for students seeking inspiration and guidance for their research papers in environmental economics. We aim to provide a curated list of diverse research paper topics, expert advice on topic selection, and practical tips on writing an effective environmental economics research paper. Additionally, we introduce the writing services offered by iResearchNet, providing students the opportunity to order custom research papers tailored to their specific needs.

By exploring the topics and advice presented on this page, students will be equipped with the tools and insights necessary to delve into the fascinating field of environmental economics. Whether you are interested in studying the economic impact of climate change, analyzing environmental policies, or exploring sustainable development strategies, this page will help you navigate the vast landscape of environmental economics research.

We invite you to embark on this exciting journey of exploring environmental economics research paper topics and discovering the potential to make a meaningful impact on the environmental challenges of our time.

Choosing an Environmental Economics Topic

Choosing the right research paper topic is a crucial step in the process of writing an impactful and successful environmental economics research paper. With the vast scope of environmental economics, it is essential to select a topic that is not only interesting but also relevant, feasible, and has the potential to contribute to the field. Here are ten expert tips to help you navigate the process of choosing environmental economics research paper topics:

• Identify your Interests : Start by identifying your personal interests within the field of environmental economics. Think about the environmental issues that resonate with you, such as climate change, natural resource management, pollution control, or sustainable development. Choosing a topic that genuinely interests you will make the research process more enjoyable and motivating.
• Stay Updated with Current Issues : Keep yourself informed about the latest environmental issues and developments in environmental economics. Follow reputable news sources, academic journals, and research publications to stay abreast of emerging trends, debates, and areas of active research. This will enable you to select topics that are timely and relevant.
• Conduct Preliminary Research : Before finalizing a research topic, conduct preliminary research to gain a broad understanding of the existing literature in the field. Review academic papers, books, and reports related to environmental economics to identify gaps in knowledge and potential research areas that warrant further exploration.
• Narrow Down the Scope : Environmental economics is a vast field, and it is essential to narrow down the scope of your research topic. Focus on a specific aspect, problem, or geographic region that you can realistically address within the scope of your research paper. Narrowing down the topic will allow you to delve deeper and provide a more comprehensive analysis.
• Consult with Your Advisor : Seek guidance from your academic advisor or faculty members specializing in environmental economics. They can provide valuable insights, suggest potential research topics, and offer guidance on selecting a topic that aligns with your academic goals and interests.
• Consider the Research Gap : Look for areas in environmental economics where there is a research gap or limited literature available. Identifying gaps in the existing body of knowledge will allow you to contribute to the field by conducting original research and generating new insights.
• Balance Practicality and Significance : When choosing a research topic, consider the practicality of data collection and analysis. Ensure that you have access to relevant data sources and research methods required to investigate the topic effectively. Additionally, evaluate the potential significance of the research topic in addressing real-world environmental challenges.
• Engage in Discussions and Seminars : Participate in discussions, seminars, and conferences related to environmental economics. Engaging with peers and experts in the field will expose you to diverse perspectives and help you discover potential research topics and areas of interest that you may not have considered before.
• Seek Interdisciplinary Approaches : Environmental economics often intersects with other disciplines such as ecology, policy studies, sociology, and public health. Consider incorporating interdisciplinary approaches into your research topic to explore the interconnectedness between environmental and social factors, which can provide a more holistic understanding of the issues at hand.
• Reflect on Practical Applications : Reflect on the practical applications of your research topic. Consider how your findings and analysis can contribute to policy development, inform decision-making processes, or propose sustainable solutions. Topics that have practical implications and can make a positive impact in real-world contexts tend to be more compelling and meaningful.

By following these expert tips, you will be well-equipped to choose a compelling and relevant environmental economics research paper topic that aligns with your interests, addresses knowledge gaps, and has the potential to contribute to the field. Remember to consult with your academic advisor throughout the process to ensure that your chosen topic aligns with the requirements and objectives of your research paper.

How to Write an Environmental Economics Research Paper

Writing an environmental economics research paper requires a systematic and well-structured approach to effectively communicate your research findings and contribute to the field. Here are ten essential tips to help you navigate the process of writing an impactful environmental economics research paper:

• Understand the Research Question : Start by clearly understanding the research question or objective of your paper. Identify the specific problem or issue you aim to address and formulate a concise and focused research question. This will serve as the guiding principle throughout your research and writing process.
• Conduct In-depth Literature Review : Before delving into your own research, conduct a comprehensive literature review to familiarize yourself with the existing body of knowledge. Identify key theories, concepts, methodologies, and empirical studies relevant to your research question. This will help you establish the context for your research and identify research gaps to address.
• Develop a Solid Research Methodology : Choose an appropriate research methodology that aligns with your research question and objectives. Whether it’s quantitative, qualitative, or a combination of both, ensure that your chosen methodology allows you to collect and analyze data effectively to answer your research question.
• Collect and Analyze Data : Depending on your research question, collect relevant data from credible sources. This may include primary data collected through surveys, interviews, or experiments, or secondary data from academic journals, government reports, or databases. Analyze the data using appropriate statistical or qualitative analysis techniques to derive meaningful insights.
• Organize Your Paper : Structure your research paper in a logical and coherent manner. Start with an introduction that provides background information, states the research question, and outlines the paper’s structure. Follow this with a literature review, methodology section, presentation and analysis of findings, discussion of results, and a conclusion that summarizes your key findings and their implications.
• Provide Clear and Concise Writing : Ensure that your writing is clear, concise, and accessible to your target audience. Use plain language and avoid unnecessary jargon. Clearly articulate your arguments, provide sufficient evidence, and use appropriate citations to support your claims. Use subheadings, bullet points, and paragraph breaks to improve readability.
• Support Your Arguments with Evidence : Back up your claims and arguments with reliable evidence. Use empirical data, case studies, academic research, and real-world examples to support your analysis. Be critical of your sources and ensure they are reputable and peer-reviewed.
• Engage in Critical Analysis : Demonstrate critical thinking skills by analyzing and interpreting your findings in the context of existing literature and theories. Identify strengths, limitations, and potential biases in your research. Discuss alternative explanations and consider counterarguments to strengthen the validity of your research.
• Discuss Policy Implications : Environmental economics research often has policy implications. Discuss the implications of your research findings for environmental policies, regulations, or economic decision-making. Highlight the potential benefits and challenges of implementing your research outcomes in real-world scenarios.
• Revise and Edit : Revise and edit your research paper thoroughly before final submission. Pay attention to clarity, grammar, spelling, and formatting. Read your paper multiple times, seek feedback from peers or advisors, and make necessary revisions to improve the overall quality and coherence of your work.

By following these tips, you can effectively write an environmental economics research paper that is well-structured, evidence-based, and contributes to the understanding of environmental issues from an economic perspective. Remember to maintain a systematic approach, stay focused on your research question, and continuously refine your writing through feedback and revisions.

Custom Research Paper Writing Services

When it comes to writing a custom environmental economics research paper, iResearchNet is here to assist you. Our writing services offer a range of features that ensure the highest quality and professionalism in delivering customized research papers. By ordering a custom paper from us, you can benefit from the following:

• Expert Degree-Holding Writers : We have a team of experienced writers with advanced degrees in environmental economics and related fields. They possess the expertise and knowledge to write high-quality research papers tailored to your specific requirements.
• Custom Written Works : Each research paper we deliver is 100% original and tailored to your unique needs. Our writers follow your instructions and conduct thorough research to provide you with a custom-written paper that meets your academic standards.
• In-depth Research : Our writers are skilled in conducting in-depth research on environmental economics topics. They access reputable academic sources, scholarly journals, and up-to-date research databases to ensure your paper is well-informed and based on the latest findings in the field.
• Custom Formatting : We understand the importance of adhering to specific formatting styles. Whether it’s APA, MLA, Chicago/Turabian, Harvard, or any other style, we ensure that your research paper is formatted correctly, including citations, references, and bibliography.
• Top Quality : Our commitment to quality is unwavering. We strive to deliver research papers that meet the highest standards of excellence. Our rigorous quality control measures ensure that your paper is well-written, well-structured, and free from errors.
• Customized Solutions : We recognize that every research paper is unique. Our writers work closely with you to understand your specific requirements and tailor the paper accordingly. We take into account your research question, objectives, and any specific guidelines provided by your institution.
• Flexible Pricing : We offer competitive and flexible pricing options to accommodate your budget. Our pricing structure considers factors such as the complexity of the research paper, deadline, and additional services required. We strive to provide affordable solutions without compromising on quality.
• Short Deadlines : We understand that deadlines can be tight. That’s why we offer short deadlines of up to 3 hours for urgent research paper requests. Our dedicated team works efficiently to ensure timely delivery, even for tight schedules.
• Timely Delivery : We value your time and strive to deliver your research paper within the agreed-upon deadline. Our writers and support team work collaboratively to ensure your paper is completed and delivered to you on time.
• 24/7 Support : Our customer support team is available round-the-clock to assist you with any queries or concerns you may have. Whether it’s assistance with placing an order, tracking your paper’s progress, or addressing any post-delivery concerns, we are here to support you.
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• Money Back Guarantee : We stand behind the quality of our work. If, for any reason, you are not satisfied with the final research paper, we offer a money back guarantee. Your satisfaction is our top priority, and we are committed to ensuring your academic success.

By choosing our writing services, you can rest assured that your environmental economics research paper will be handled by professionals who are dedicated to delivering customized and high-quality work. Our extensive features and commitment to excellence make us the ideal choice for students seeking reliable and professional assistance in their research paper endeavors.

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20 Dissertation Topics on Sustainability and Green Technology

Published by Carmen Troy at January 9th, 2023 , Revised On May 17, 2024

Introduction

Looking for interesting and manageable topics on sustainability and green technology for your dissertation or thesis? Well, you have come to the right place.

The subject of sustainability, green technology, and environmental friendliness has gained tremendous importance over the last few years – thanks to the ever-increasing pollution, climate change, and high production costs throughout the world.

Without wasting any more of your time, here are the 20+ dissertation topic ideas in this trendy field so you can choose the one that is not only intriguing but also manageable for you.

These topics have been developed by PhD writers of our team , so you can trust to use these topics for drafting your dissertation.

You may also want to start your dissertation by requesting a brief research proposal from our writers on any of these topics, which includes an introduction to the topic, research question, aim and objectives, literature review, and the proposed methodology of research to be conducted. Let us know  if you need any help in getting started.

Check our  dissertation examples  to get an idea of  how to structure your dissertation .

Review the full list of  dissertation topics here.

Latest Research Topics on Sustainability and Green Technology

Topic 1: the role of artificial intelligence (ai) and green technology in the develpment of smart and sustainable towns.

Research Aim: This study intends to find the role of artificial intelligence (AI) and green technology in developing smart and sustainable towns. It will review the concepts of smart and sustainable towns to show their importance in the modern era to reduce global warming. Then it will assess the role of AI by analysing various machine learning and deep learning models to show how these models can help develop smart and sustainable towns. Lastly, it will review what work has already been done in this area and what should be done.

Topic 2: Impact of Research and Development (R&D) Expenditure in Green Technology on the Sustainability Outcomes of the Construction Industry- A Case of Malaysian Construction Industry

Research Aim: This study intends to analyse the impact of research and revelopment (R&D) expenditure on green technology on the sustainability outcomes of the construction industry in Malaysia. It will review the current green technology used in the Malaysian construction industry and its development. Moreover, it will show how the construction industry is spending to develop new green technology and how much it requires to make it completely sustainable. It will also identify various national and international sources which can invest in this industry to make it more sustainable.

Topic 3: What are the Motivating and Demotivating Factors for Green Supply Chain Practices? An Exploratory Study Finding the Factors Affecting Green Supply Chain Practices in the UK

Research Aim: This research will identify various motivating and demotivating factors (return on green investment, production output, local and global competitiveness, political support, international support, investor support, etc.) for green supply chain practices. It will study various industries in the UK, such as construction, hotel industry, retail industry, etc., find out how the abovementioned factors affected their interest in green technology and green supply chain practices. Moreover, it will assess the work done in this area and how various institutions can motivate these industries.

Topic 4: Influence of Green Advertising on the Consumer View of Green Technology and Sustainability in the US

Research Aim: This study shows the impact of green advertising on the consumer perception of green technology and sustainability. It will assess how various components of green advertising work and how they affect the consumer perception of the need for green technology. Moreover, it will analyse different green advertising strategies used by companies in the US to influence consumer perception and how these strategies can be improved to make US consumers more interested in the products, which are products of an environment-friendly production process.

Topic 5: Green Economy a Necessity? Impact of Green Technology on Sustainable Economic Growth and Development- A Case of ASEAN Economies

Research Aim: It proposes a framework to analyse the impact of green technology on sustainable economic growth and development. It will show whether the green economy is essential for growth and development or not. It will assess various effects of green technology on the economy and ecology. And show how improving ecology can benefit human development, which can be good for long-term economic growth in the ASEAN countries. Lastly, it will analyse the current progress of these countries in creating a green economy.

Topic 6: The Potential of Biomimicry in Green Technology Innovation

Research Aim: This research explores and evaluates the potential applications of biomimicry principles in driving innovation within green technology. The purpose of the study is to enhance sustainability, resource efficiency, and environmental conservation.

Topic 7: Circular Economy and its Application in Achieving Sustainability Targets

Research Aim: This study investigates the concept of the circular economy and its practical implementation strategies. It focuses on the effectiveness of the circular economy in facilitating the achievement of sustainability targets across various industries and sectors.

Topic 8: Sustainable Water Management in the Era of Climate Change

Research Aim: This research examines the challenges and opportunities associated with sustainable water management in the context of climate change. The study identifies effective strategies, technologies, and policies to ensure resilient and equitable access to clean water resources while mitigating the impacts of climate variability and extreme events.

Topic 9: The Role of Information Technology in Advancing Sustainability Initiatives

Research Aim: This study investigates the multifaceted role of information technology (IT) in advancing sustainability initiatives across various sectors. It explores how IT innovations, such as big data analytics, IoT (Internet of Things), blockchain, and AI (Artificial Intelligence), can contribute to enhancing resource efficiency and promoting sustainable development goals.

Topic 10: Corporate Social Responsibility and Green Technology Adoption: A Case Study Analysis

Research Aim: This study aims to conduct a comprehensive case study analysis to examine the relationship between corporate social responsibility (CSR) practices and the adoption of green technologies within organisations. It examines understanding the motivations and outcomes associated with integrating sustainability initiatives into corporate strategies and operations.

Topic 11: Impact of Smart Grid Technologies for Sustainable Energy Management

Research Aim: This research assesses the impact of smart grid technologies on sustainable energy management. The study focuses on understanding how the integration of advanced grid infrastructure, renewable energy sources, energy storage systems, and demand-side management techniques contributes to increasing energy efficiency, grid reliability, and environmental sustainability.

COVID-19 Sustainability and Green Technology Research Topics

Topic 1: covid-19 and the need to expand sustainable energy.

Research Aim: It’s high time to expand sustainable energy during COVID-19.

Topic 2: COVID-19 and the environment

Research Aim: This study will focus on the positive and negative impacts of COVID-19 on the environment.

Topic 3: Economic expenditure on the green environment during COVID-19

Research Aim: This study will review the economic expenditure and plans for the green environment during COVID-19.

Topic 4: The green economy after COVID-19

Research Aim: This study will analyse the current issues related to green technology and predict the future of a green environment after COVID-19.

Dissertation Topics Ideas on Sustainability and Green Technology on Global Impact

Topic 1: research on sustainable gardens.

Research Aim: This research aims to conduct research on creating sustainable gardens and identify their benefits.

Topic 2: Sustainable outdoor designs using recycled materials

Research Aim: This research aims to identify various methods of creating sustainable outdoor designs using recycled materials and identify their benefits.

Topic 3: Pollution-free disposal and recycling of trash

Research Aim: This research aims to identify various methods to ensure pollution-free disposal and recycling of trash

Topic 4: Importance of gardening- awareness and ideas for the city, terrace/roof gardening

Research Aim: This research aims to address the importance of gardening and its awareness among the public. It will also focus on identifying cost-effective and innovative ideas for the city, as well as terrace/roof gardening.

Topic 5: Examining the economic impacts of green technology

Research Aim: The research will involve comparing the costs incurred in developing green energy and the economic benefits. The services will be saved once alternative forms of materials and energy sources are used. It will be relevant in identifying whether it is worth investing in green technology from an economic perspective. It will also help in developing supportive policies that guide green technology.

Topic 6: How do national and regional politics affect environmental sustainability?

Research Aim: This research study will analyse the role of politics in the environment. It will explore the positive or negative impacts of individual political inclinations.

Topic 7: How sustainable is the environment in the current and forthcoming eras?

Research Aim: This research will analyse global trends and their impacts on environmental trends. Developments such as increasing population, climate change, and using various materials affect the people. It will inform about how sustainability measures can be structured to align with the trends.

Topic 8: Adoption of green energy by low-end users

Research Aim: The research will be based on realising a market niche that cannot afford or are not willing to spend on an expensive product. Additionally, the embrace of some advanced technologies varies across classes, mainly based on exposure. There is also the notion that green technology can be expensive, making the stated users reluctant to use it. Accordingly, the research will focus on the factors that give users their respective levels of green technology use.

Topic 9: How green technology can affect organisational processes

Research Aim: This research will analyse how processes that can include procuring and sourcing, producing, sales, marketing, and delivering products, among others, can be impacted once green technology is introduced. It will help analyse cost and time effectiveness and the satisfaction of the organisation’s stakeholders. It can help recommend structural changes when an organisation is considering green technology.

Topic 10: To what extent does green technology contribute to environmental sustainability?

Research Aim: notably, several factors are contributing to environmental degradation and pollution. While green technology has been identified in previous research to ensure sustainability, its contribution can be compared with other factors. Accordingly, recommendations can be made about whether it is the absolute solution to sustainability.

Topic 11: Green technology and global environmental sustainability frameworks

Research Aim: The study will assess how the frameworks affect the use of green technology. Various global environmental practices are commonly developed. The research will suggest any amendments to the frameworks to positively correlate them with green technology. Also, the topic will evaluate how the frameworks are implemented in various regions.

Topic 12: Green technology practices in developing countries

Research Aim: The research will explore the extent to which developing countries use and promote green technology. They are characterised by having a lower economy. The priority they have on sustainability will be established.

Topic 13: How do policies affect the use of green technology in a country?

Research Aim: The research acknowledges that regulatory bodies devise policies to guide various industries. The guidelines can be supportive or suppressive in the development and use of green technology. For instance, the bodies’ incentives can encourage green technology, while factors like high taxation can discourage it. Therefore, focusing on a particular country’s policies can be insightful into the level at which the technology is incorporated.

Topic 14: Incentives for green technology and environmental sustainability

Research Aim: The purpose of this study is to determine how green technology can be promoted among users and manufacturers. It will first identify the challenges that users can face when using and applying the technology. It will also evaluate the level of sensitisation about green technology that people in a region have. The various stakeholders can execute the incentives for environmental sustainability.

How Can ResearchProspect Help?

ResearchProspect writers can send several custom topic ideas to your email address. Once you have chosen a topic that suits your needs and interests, you can order for our dissertation outline service , which will include a brief introduction to the topic, research questions , literature review , methodology , expected results , and conclusion . The dissertation outline will enable you to review the quality of our work before placing the order for our full dissertation writing service !

More Research Titles on Sustainability and Green Technology

Topic 1: what roles do ngos have in environmental sustainability and green technology.

Research Aim: The research will establish how NGOs can be incorporated into sustainability. NGOs have distinct objectives. While some are specific to environmental conservation, others focus on aspects that indirectly affect the environment positively or negatively. The study will then suggest how the NGOs can be motivated to advance their operations and promote green technology.

Topic 2: Impactful green thinking to achieve sustainability

Research Aim: The research analyses human behaviour and issues that can promote sustainability. It explores how people can change their perspective on the environment and take measures at individual and collective levels. It will recommend some habitual changes that can positively impact the environment.

Topic 3: A holistic approach to environmental sustainability

Research Aim: Sustainability comprises various factors, ranging from behavioural, resources, technological, and procedural. Most studies have focused on particular sets of characteristics. However, it can be intriguing how integrating sustainability factors can be achieved. Also, it will be realised if implementing some measures of sustainability has any correlation to others.

Topic 4: Can there be a balance between lifestyle and green technology?

Research Aim: the study will assess the relationship between current lifestyle and green technology. It will be relevant in identifying the personal understanding of green technology’s contribution and how people are ready to adjust their lifestyle to technology. It will further show how green technology affects lifestyles.

Topic 5: How do businesses perceive green energy and environmental sustainability?

Research Aim: The research aims to identify how profit-making organisations approach green technology. It will focus on whether they find it less costly and useful. Also, it will establish whether they find products that involve green technology are usually marketable. Further, it will identify the organisation’s preference for the working environment, whether in regions that promote environmental sustainability or those that do not.

Topic 6: Examining sustainability policies in developed and developing countries

Research Aim: The research will compare regulations instituted in the two sets of countries. It will also assess the extent of implementation of the policies in the countries.

Topic 7: Challenges facing green technology as one of the drivers towards sustainability

Research Aim: The research will be based on green technology recognition as a crucial attribute of environmental sustainability. Despite the assertion, the technology has not attained universal coverage as it would be more impactful. The challenges can vary in economic, social, geographical, and regulatory aspects, and it is recommended that the research focus on a particular region. The results can also be analysed if there is a conflict of to identify any general challenges in the areas.

Topic 8: What is the consumer perspective towards green production?

Research Aim: Businesses target to satisfy the needs of consumers. The study will assess whether the consumer has a force towards producers that can make the latter inclined towards using green technology. This research study will essentially focus on the consumables industry.

Topic 9: Stakeholders’ contribution to green technology

Research Aim: The research will establish all the stakeholders in green energy. It will reveal their interests and drivers towards green technology. There will be an insight into whether there is a conflict of interest between the stakeholders and how it can be resolved. It will also help identify how the stakeholders can collaborate and integrate their resources and ideas.

Topic 10: Current trends in green technology and the future of technology

Research Aim: the research will aim to overview how green energy has been advancing over time. The trend will then help in predicting the future of green technology. Besides, it will be informative about the contribution green energy has had on environmental sustainability at various levels. It will then make recommendations about the optimum technology based on the available information and developments.

Also Read: Dissertation Topics in Engineering Management

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Important Notes:

As a student of sustainability and green technology looking to get good grades, it is essential to develop new ideas and experiment with existing sustainability and green technology theories – i.e., to add value and interest to your research topic.

Sustainability and green technology are vast and interrelated to many other academic disciplines like environmental engineering . That is why it is imperative to create a sustainability and green technology dissertation topic that is particular, sound, and solves a practical problem that may be rampant in the field.

We can’t stress how important it is to develop a logical research topic based on your fundamental research. There are several significant downfalls to getting your issue wrong; your supervisor may not be interested in working on it, the topic has no academic creditability, the research may not make logical sense, and there is a possibility that the study is not viable.

This impacts your time and efforts in writing your dissertation , as you may end up in a cycle of rejection at the initial stage of the dissertation. That is why we recommend reviewing existing research to develop a topic, taking advice from your supervisor, and even asking for help in this particular stage of your dissertation.

While developing a research topic, keeping our advice in mind will allow you to pick one of the best sustainability and green technology dissertation topics that fulfil your requirement of writing a research paper and add to the body of knowledge.

Therefore, it is recommended that when finalising your dissertation topic, you read recently published literature to identify gaps in the research that you may help fill.

Remember- dissertation topics need to be unique, solve an identified problem, be logical, and be practically implemented. Please look at some of our sample sustainability and green technology dissertation topics to get an idea for your dissertation.

How to Structure Your Dissertation on Sustainability & Green Technology

A well-structured dissertation can help students to achieve a high overall academic grade.

• A Title Page
• Acknowledgments
• Declaration
• Abstract: A summary of the research completed
• Table of Contents
• Introduction : This chapter includes the project rationale, research background, key research aims and objectives, and the research problems. An outline of the structure of a dissertation can also be added to this chapter.
• Literature Review : This chapter presents relevant theories and frameworks by analysing published and unpublished literature on the chosen research topic to address research questions . The purpose is to highlight and discuss the selected research area’s relative weaknesses and strengths whilst identifying any research gaps. Break down the topic and binding terms, which can positively impact your dissertation and your tutor.
• Methodology : The data collection and analysis methods and techniques employed by the researcher are presented in the Methodology chapter, which usually includes research design , research philosophy, research limitations, code of conduct, ethical consideration, data collection methods, and data analysis strategy .
• Findings and Analysis : The findings of the research are analysed in detail in the Findings and Analysis chapter. All key findings/results are outlined in this chapter without interpreting the data or drawing any conclusions. It can be useful to include graphs, charts, and tables in this chapter to identify meaningful trends and relationships.
• Discussion and Conclusion : The researcher presents his interpretation of results in this chapter and states whether the research hypothesis has been verified or not. An essential aspect of this section of the paper is to link the results and evidence from the literature. Recommendations with regard to the implications of the findings and directions for the future may also be provided. Finally, a summary of the overall research, along with final judgments, opinions, and comments, must be included in the form of suggestions for improvement.
• References : This should be completed following your University’s requirements
• Bibliography
• Appendices : Any additional information, diagrams, and graphs used to complete the dissertation but not part of the dissertation should be included in the Appendices chapter. Essentially, the purpose is to expand the information/data.

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List of suggested topics for thesis

for RESD students

• Invia ad un amico

List of suggested topics

Elettra Agliardi

§ Financial Derivatives and climate change

§ Evolutions of institutions and ambiguity in the context of climate change

§  Climate finance 

§ Green bonds​

§  Facilitating transition: real option valuation for green growth, energy and technology transition.

Thanasis Stengos

§  Empirical approaches to the effect of emissions on growth

§  The Environmental Kuznets Curve: different methods of estimation analysis

§ Empirical investigation of the trade off between clean and conventional energy sources in affecting growth.

Rainer Andergassen

§  Economic growth and sustainability

§  Technological change and innovation incentives: green vs dirty technologies

§  Natural disasters and risk management

Anastasios Xepapadeas

§  Cost Benefit Analysis in General Infrastructure, or Renewable Energy using the EU Guidelines.

§  Climate Change Impacts on Output Growth and/or Total Factor Productivity.

§  Spatial Aspects in the Management of Resources and the Environment.

§ Coalition Formation and International Agreements under Climate Change: The Role of Adaptation, Geoengineering, and Solar Radiation Management.

§ The UN Sustainable Development Goals in the Context of Sustainability Measurement through Genuine Savings or Comprehensive Wealth

Konstantinos Chalvatzis

§ Regulating Energy Innovation: Comparative policies for energy storage and smart grid technologies in EU countries (particular focus on the UK, Sweden, Germany, France, Spain, Italy, Greece) 

§ The EU single energy market and the role of the EU policies in enabling innovation in the energy sector (focus on energy storage and smart-grid technologies)

§ From energy consumer to energy prosumer: transforming the EU citizens

Melania D’Angelosante

§  The EU Emission Trading System (EU ETS)

§  Waste (management) as a resource

§  The environmental liability directive

Roberto Dieci

§  Agent-Based models for resource economics and management

§  Dynamic models in agricultural and resource economics

§  Mathematical modeling of emission markets

§ Mathematical modeling of agricultural price fluctuations

§ Mathematical models of tipping points and application to environmental economics and policy

Luca Fanelli

§ The econometrics of climate change (review level)

§ Shocks identification in applied macroeconomics (intermediate/advanced level)

§ The identification and measurement of oil shocks (advanced level).

Anna Montini

§  The economic cost of environmental impacts on human health

§  Appraisal of total economic value of environmental goods (specific case study to be defined)

§  Cost-benefit analysis of new municipal solid waste collection methods (or other case study to be detailed)

Roberto Patuelli

§  Regional social capital and environmental concerns

§  Balancing transport accessibility and the environment

§  The double dividend hypothesis in developing countries

§ Impact of speed limits on air pollution in Bologna

Corrado Benassi

§  Income polarization and political polarization

§  Income distribution and the working of markets

§  Income distribution and macroeconomic performance

§  Foundations of inequality and poverty measurement; measurement theory

§  Optimal population and sustainability

§  Mixed oligopolies and welfare

§  Ethical foundations of welfare theories 

Alessandro Tavoni

§ Media coverage, public awareness and climate tweets (Empirical)

§  Identifying drivers of cooperation in the laboratory (Experimental Economics)

§  Identifying drivers of cooperation in the field (Experimental Economics)

§  Eliciting climate change views with surveys (Empirical)

§  The political economy of international environmental agreements (IEA): the interplay between domenstic politics and IEA in coalition formation models (Game Theory)

§  Evolution of cooperation and common pool resource management (Game Theory)

Maria Gabrielli Baldarelli

§ Eco-justice and gambling: the role of accountability

§ Women, accounting and SDG

§ Social, environmental Accounting and poverty

§ Social , environmental and sustainable Accounting and accountability in Economy of communion entities 

Federica Farneti

§ Social Reports/sustainability reports of Italian provincial governments (international organisations): A Longitudinal Analysis. § Insights on non-financial disclosure in major corporations and reflections on SMEs, before and after the directive 95/2014: the path towards greater transparency? § Integrated reporting: Losing legitimacy when reporting talk is not supported by actions. § Social and environmental auditing

• Open access
• Published: 22 June 2020

The green economy transition: the challenges of technological change for sustainability

• Patrik Söderholm   ORCID: orcid.org/0000-0003-2264-7043 1  

Sustainable Earth volume  3 , Article number:  6 ( 2020 ) Cite this article

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The Green Economy is an alternative vision for growth and development; one that can generate economic development and improvements in people’s lives in ways consistent with advancing also environmental and social well-being. One significant component of a green economy strategy is to promote the development and adoption of sustainable technologies. The overall objective of this article is to discuss a number of challenges encountered when pursuing sustainable technological change, and that need to be properly understood by policy makers and professionals at different levels in society. We also identify some avenues for future research. The discussions center on five challenges: (a) dealing with diffuse – and ever more global – environmental risks; (b) achieving radical and not just incremental sustainable technological change; (c) green capitalism and the uncertain business-as-usual scenario; (d) the role of the state and designing appropriate policy mixes; and (e) dealing with distributional concerns and impacts. The article argues that sustainable technological change will require a re-assessment of the roles of the private industry and the state, respectively, and that future research should increasingly address the challenges of identifying and implementing novel policy instrument combinations in various institutional contexts.

The green economy transition and sustainable technological change

Over the last decade, a frequent claim has been that the traditional economic models need to be reformed in order to address climate change, biodiversity losses, water scarcity, etc., while at the same time addressing key social and economic challenges. The global financial crisis in 2008–2009 spurred this debate [ 4 ], and these concerns have been translated into the vision of a ‘green economy’ (e.g., [ 31 , 33 , 48 , 54 , 55 ]). Furthermore, in 2015, countries world-wide adopted the so-called 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals. These goals recognize that ending world poverty must go hand-in-hand with strategies that build economic growth but also address a range of various social needs including education, health, social protection, and job creation, while at the same time tackling environmental pollution and climate change. The sustainable development goals thus also establish a real link between the ecological system and the economic system. They also reinforce the need for a transition to a green economy, i.e., a fundamental transformation towards more sustainable modes of production and consumption.

In this article, we focus on a particularly important component of such a transition, namely the development of sustainable technological change, i.e., production and consumption patterns implying profoundly less negative impacts on the natural environment, including the global climate. Specifically, the article addresses a number of key challenges in supporting – and overcoming barriers to – sustainable technological change. These challenges are presented with the ambition to communicate important lessons from academic research to policy makers and professionals as well as the general public.

Addressing climate and environmental challenges, clearly requires natural scientific knowledge as well as engineering expertise concerning the various technical solutions that can be adopted to mitigate the negative impacts (e.g., carbon-free energy technologies). However, pursuing sustainable technological change is also a societal, organizational, political, and economic endeavor that involves several non-technical challenges. For instance, the so-called transitions literature recognizes that many sectors, such as energy generation, water supply etc., can be conceptualized as socio-technical systems and/or innovation systems [ 24 , 40 ]. These systems consist of networks of actors (individuals, private firms, research institutes, government authorities, etc.), the knowledge that these actors possess as well as the relevant institutions (legal rules, codes of conduct, etc.). In other words, the development of, for instance, new carbon-free technologies may often require the establishment of new value chains hosting actors that have not necessarily interacted in the past; this necessitates a relatively long process that can alter society in several ways, e.g., through legal amendments, changed consumer behavior, distributional effects, infrastructure development and novel business models.

In other words, beyond technological progress, economic and societal adjustment is necessary to achieve sustainable technological change. In fact, history is full of examples that illustrate the need to address the organizational and institutional challenges associated with technological change and innovation. In hindsight, the societal impacts of electricity in terms of productivity gains were tremendous during the twentieth century. Still, while electrical energy was discovered in the late 1870s, in the year 1900, less than 5% of mechanical power in American factories was supplied by electric motors and it took yet another 20 years before their productivity soared [ 14 ]. An important reason for the slow diffusion of electric power was that in order to take full advantage of the new technology, existing factories had to change the entire systems of operation, i.e., the production process, the architecture, the logistics as well as the ways in which workers were recruited, trained and paid. Footnote 1 A similar story emerges when considering the impact of computers on total productivity during the second half of the twentieth century. For long, many companies invested in computers for little or no reward. Also in this case, however, the new technology required systemic changes in order for companies to be able to take advantage of the computer. This meant, for instance, decentralizing, outsourcing, and streamlining supply chains as well as offering more choices to consumers [ 9 ].

This key argument that the adoption of new technology has to be accompanied by systemic changes, applies both to the company as well as the societal level. Any novel solutions being developed must take into account the complexity of the interdependencies between different types of actors with various backgrounds, overall market dynamics, as well as the need for knowledge development and institutional reforms. In fact, the need for systemic changes may be particularly relevant in the case of green technologies, such as zero-carbon processes in the energy-intensive industries (see further below).

Against this background, the issue of how to promote sustainable technological change has received increasing attention in the policy arena and in academic research. The main objective of this article is therefore to discuss some of the most significant societal challenges in pursuing such change, and outline key insights for policy makers as well as important avenues for future research. In doing this, we draw on several strands of the academic literature. The article centers on the following five overall challenges:

Dealing with diffuse – and ever more global – environmental risks

Achieving radical – and not just incremental – sustainable technological change;

The advent of green capitalism: the uncertain business-as-usual scenario

The role of the state: designing appropriate policy mixes, dealing with distributional concerns and impacts.

The first two challenges address the various types of structural tasks that are required to pursue sustainable technological change, and the barriers that have to be overcome when pursuing these tasks. The remaining points concern the role and the responsibility of different key actors in the transition process, not least private firms and government authorities. Each of these five challenges in turn involves more specific challenges, and these are identified and elaborated under each heading. We also provide hints about how to address and manage these challenges, but specific solutions will likely differ depending on the national or regional contexts. The paper concludes by briefly outlining some key avenues for future research, and with an emphasis on research that can assist a green socio-technical transition. Footnote 2

With the advent of modern environmental policy in the 1960s, stringent regulations were imposed on emissions into air and water. However, the focus was more or less exclusively on stationary pollution sources (i.e., industrial plants), which were relatively easy to monitor and regulate, e.g., through plant-specific emission standards. In addition, during this early era there was a strong emphasis on local environmental impacts, e.g., emissions into nearby river basins causing negative effects on other industries and/or on households in the same community.

Over the years, though, the environmental challenges have increasingly been about targeting various types of diffuse emissions. These stem from scattered sources such as road transport, shipping, aviation, and agriculture. Pollution from diffuse sources takes place over large areas and individually they may not be of concern, but in combination with other diffuse sources they can cause serious overall impacts. The growing importance of global environmental challenges such as climate change in combination with globalization and more international trade in consumer products, adds to this challenge. Managing these issues often requires international negotiations and burden-sharing, which in itself have proved difficult [ 12 ]. The difficulties in reaching a stringent-enough global climate agreement illustrate this difficulty.

Diffuse emissions are typically difficult to monitor and therefore also to regulate. For instance, environmental authorities may wish to penalize improper disposal of a waste product since this would help reduce various chemical risks, but such behavior is typically clandestine and difficult to detect. Plastic waste is an apt example; it stems from millions of consumer products, is carried around the world by the currents and winds, and builds up microplastics, particularly in the sea. Many dangerous substances, including chemicals such as solvents and phthalates, are embedded in consumer products, out of which many are imported. Monitoring the potential spread of these substances to humans and the natural environment remains difficult as well. Technological innovation that permits better tracing and tracking of materials should therefore be a priority (see also [ 21 ]).

In order to address these diffuse environmental impacts, society has to find alternative – yet more indirect – ways of monitoring and regulating them. This could translate into attempts to close material cycles and promote a circular economy, i.e., an economy in which the value of products, materials and resources are maintained as long as possible [ 19 ]. In practice, this implies an increased focus on reduction, recycling and re-use of virgin materials [ 30 ], material and energy efficiency, as well as sharing of resources (often with the help of various digital platforms such as Uber and Airbnb). In other words, rather than regulating emissions as close to damage done as possible, the authorities may instead support specific activities (e.g., material recycling) and/or technologies (e.g., low-carbon production processes) that can be assumed to correlate with reduced environmental load.

Addressing diffuse emissions in such indirect ways, though, is not straightforward. In several countries, national waste management strategies adhere to the so-called waste hierarchy (see also the EU Waste Framework Directive). This sets priorities for which types of action should be taken, and postulates that waste prevention should be given the highest priority followed by re-use of waste, material recycling, recovery of waste and landfill (in that order). Even though research has shown that this hierarchy is a reasonable rule of thumb from an environmental point of view [ 42 ], it is only a rule of thumb! Deviations from the hierarchy can be motivated in several cases and must therefore be considered (e.g., [ 58 ]). Footnote 3

One important way of encouraging recycling and reuse of products is to support product designs that factor in the reparability and reusability of products. Improved recyclability can also benefit from a modular product structure (e.g., [ 20 ]). However, this also comes with challenges. Often companies manufacture products in such ways that increase the costs of recycling for downstream processors, but for institutional reasons, there may be no means by which the waste recovery facility can provide the manufacturer with any incentives to change the product design [ 11 , 46 ]. One example is the use of multi-layer plastics for food packaging, which could often be incompatible with mechanical recycling.

While the promotion of material and energy efficiency measures also can be used to address the problem of diffuse environmental impacts, it may be a mixed blessing. Such measures imply that the economy can produce the same amount of goods and services but with less material and energy inputs, but they also lead to a so-called rebound effect [ 27 ]. Along with productivity improvements, resources are freed and can be used to increase the production and consumption of other goods. In other words, the efficiency gains may at least partially be cancelled out by increased consumption elsewhere in the economy. For instance, if consumers choose to buy fuel-efficient cars, they are able to travel more or spend the money saved by lower fuel use on other products, which in turn will exploit resources and lead to emissions.

Finally, an increased focus on circular economy solutions will imply that the different sectors of the economy need to become more interdependent. This interdependency is indeed what makes the sought-after efficiency gains possible in the first place. This in turn requires new forms of collaborative models among companies, including novel business models. In some cases, though, this may be difficult to achieve. One example is the use of excess heat from various process industries; it can be employed for supplying energy to residential heating or greenhouses. Such bilateral energy cooperation is already quite common (e.g., in Sweden), but pushing this even further may be hard and/or too costly. Investments in such cooperation are relation-specific [ 60 ], i.e., their returns will depend on the continuation of the relationships. The involved companies may be too heterogeneous in terms of goals, business practices, planning horizons etc., therefore making long-term commitment difficult. Moreover, the excess heat is in an economic sense a byproduct, implying that its supply will be constrained by the production of the main product. Of course, this is valid for many other types of waste products as well, e.g., manure digested to generate biogas, secondary aluminum from scrapped cars.

In brief, the growing importance of addressing diffuse emissions into the natural environment implies that environmental protection has to build on indirect pollution abatement strategies. Pursuing each of these strategies (e.g., promoting recycling and material efficiency), though, imply challenges; they may face important barriers (e.g., for product design, and byproduct use) and could have negative side-effects (e.g., rebound effects). Moreover, a focus on recycling and resource efficiency must not distract from the need to improve the tracing and tracking of hazardous substances and materials as well as provide stronger incentives for product design. Both technological and organizational innovations are needed.

Achieving radical – and not just incremental – sustainable technological change

Incremental innovations, e.g., increased material and energy efficiency in existing production processes, are key elements for the transition to a green economy. However, more profound – and even radical – technological innovation is also needed. For instance, replacing fossil fuels in the transport sector as well as in iron and steel production requires fundamental technological shifts and not just incremental efficiency improvements (e.g., [ 1 ]). There are, however, a number of factors that will make radical innovation inherently difficult. Below, we highlight three important obstacles.

First , one obstacle is the risk facing firms that invest in technological development (e.g., basic R&D, pilot tests etc.) in combination with the limited ability of the capital market to handle the issue of long-term risk-taking. These markets may fail to provide risk management instruments for immature technology due to a lack of historical data to assess risks. There are also concerns that the deregulation of the global financial markets has implied that private financial investors take a more short-term view [ 44 ]. In fact, research also suggests that due to agency problems within private firms, their decision-making may be biased towards short-term payoffs, thus resulting in myopic behavior also in the presence of fully efficient capital markets [ 53 ].

Second , private investors may often have weak incentives to pursue investments in long-term technological development. The economics literature has noted the risks for the under-provision of public goods such as the knowledge generated from R&D efforts and learning-by-doing (e.g., [ 38 ]). Thus, private companies will be able to appropriate only a fraction of the total rate-of-return on such investment, this since large benefits will also accrue to other companies (e.g., through reverse engineering). Due to the presence of such knowledge spillovers, investments in long-term technological development will become inefficient and too modest.

Third , new green technologies often face unfair competition with incumbent technologies. The incumbents, which may be close substitutes to their greener competitors, will be at a relative competitive advantage since they have been allowed to expand during periods of less stringent environmental policies as well as more or less tailor-made institutions and infrastructures. This creates path-dependencies, i.e. where the economy tends to be locked-in to certain technological pathways [ 2 ]. In general, companies typically employ accumulated technology-specific knowledge when developing new products and processes, and technology choices tend to be particularly self-reinforcing if the investments are characterized by high upfront costs and increasing returns from adoption (such as scale, learning and network economies). Existing institutions, e.g., laws, codes of conduct, etc., could also contribute to path dependence since these often favor the incumbent (e.g., fossil-fuel based) technologies [ 57 ].

The above three factors tend to inhibit all sorts of long-run technological development in the private sector, but there is reason to believe that they could be particularly troublesome in the case of green technologies. First, empirical research suggests that green technologies (e.g., in energy and transport) generate large knowledge spillovers than the dirtier technologies they replace [ 15 , 49 ]. Moreover, while the protection of property rights represents one way to limit such spillovers, the patenting system is subject to limitations. For instance, Neuhoff [ 43 ] remarks that many sustainable technologies:

“consist of a large set of components and require the expertise of several firms to improve the system. A consortium will face difficulties in sharing the costs of ‘learning investment’, as it is difficult to negotiate and fix the allocation of future profits,” (p. 98).

These are generally not favorable conditions for effective patenting. Process innovations, e.g., in industry, are particularly important for sustainable technology development, but firms are often more likely to employ patents to protect new products rather than new processes [ 39 ]. Footnote 4

Furthermore, one of the key socio-technical systems in the green economy transition, the energy system, is still today dominated by incumbent technologies such as nuclear energy and fossil-fueled power, and exhibits several characteristics that will lead to path dependent behavior. Investments are often large-scale and exhibit increasing returns. Path dependencies are also aggravated by the fact that the outputs from different energy sources – and regardless of environmental performance – are more or less perfect substitutes. In other words, the emerging and carbon-free technologies can only compete on price with the incumbents, and they therefore offer little scope for product differentiation. In addition, the energy sectors are typically highly regulated, thus implying that existing technological patterns are embedded in and enforced by a complex set of institutions as well as infrastructure.

In brief, technological change for sustainability requires more radical technological shifts, and such shifts are characterized by long and risky development periods during which new systemic structures – i.e., actor networks, value chains, knowledge, and institutions – need to be put in place and aligned with the emerging technologies. Overall, the private sector cannot alone be expected to generate these structures, and for this reason, some kind of policy support is needed. Nevertheless, in order for any policy instrument or policy mix to be efficient, it has to build on a proper understanding of the underlying obstacles for long-run technological development. As different technologies tend to face context-specific learning processes, patenting prospects, risk profiles etc., technology-specific support may be needed (see also below).

At least since the advent of the modern environmental debate during the 1960s, economic and environmental goals have been perceived to be in conflict with each other. Business decisions, it has been argued, build on pursuing profit-maximization; attempts to address environmental concerns simultaneously will therefore imply lower profits and reduced productivity. However, along with increased concerns about the environmental footprints of the global economy and the growth of organic products and labels, material waste recycling, climate compensation schemes etc., sustainability issues have begun to move into the mainstream business activities. In fact, many large companies often no longer distinguish between environmental innovation and innovation in general; the environmental footprints of the business operations are almost always taken into consideration during the innovation process (e.g., [ 47 ]).

Some even puts this in Schumpeterian terms, and argues that sustainable technological change implies a “new wave of creative destruction with the potential to change fundamentally the competitive dynamics in many markets and industries,” ([ 37 ], p. 315). The literature has recognized the potentially important roles that so-called sustainability entrepreneurs can play in bringing about a shift to a green economy; these types of entrepreneurs seek to combine traditional business practices with sustainable development initiatives (e.g., [ 25 ]). They could disrupt established business models, cultures and consumer preferences, as well as help reshape existing institutions. Just as conventional entrepreneurs, they are agents of change and offer lessons for policy makers. However, the research in this field has also been criticized for providing a too strong focus on individual success stories, while, for instance, the institutional and political factors that are deemed to also shape the priorities made by these individuals tend to be neglected (e.g., [ 13 ]).

Ultimately, it remains very difficult to anticipate how far voluntary, market-driven initiatives will take us along the long and winding road to the green economy. In addition to a range of incremental developments, such as increased energy and material efficiency following the adoption of increased digitalization, industrial firms and sustainability entrepreneurs are likely to help develop new and/or refined business models (e.g., to allow for increased sharing and recycling of resources) as well as adopt innovations commercially. In the future, businesses are also likely to devote greater attention to avoiding future environmental liabilities, such as the potential costs of contaminated land clean-up or flood risks following climate change. Far from surprising, large insurance companies were among the first to view climate change as a risk to their viability. One response was the development of new financial instruments such as ‘weather derivatives’ and ‘catastrophe bonds’ [ 35 ].

In other words, there is an increasing demand for businesses that work across two logics that in the past have been perceived as incompatible: the commercial and the environmental. There are however huge uncertainties about the scope and the depth of green capitalism in this respect. Moreover, the answer to the question of how far the market-driven sustainability transition will take us, will probably vary depending on business sector and on factors such as the availability of funding in these sectors. Footnote 5

As indicated above, there are reasons to assume that in the absence of direct policy support, businesses will not be well-equipped to invest in long-term green technology development. Green product innovations may often be easier to develop and nurture since firms then may charge price premiums to consumers. In fact, many high-profile sustainability entrepreneurs in the world (e.g., Anita Roddick of The Body Shop) have been product innovators. In contrast, green process innovation is more difficult to pursue. It is hard to get consumers to pay premiums for such innovations. For instance, major efforts are needed to develop a carbon-free blast furnace process in modern iron and steel plants (e.g., [ 1 ]). And even if this is achieved, it remains unclear whether the consumers will be willing to pay a price premium on their car purchases purely based on the knowledge that the underlying production process is less carbon-intense than it used to be. Moreover, taking results from basic R&D, which appear promising on the laboratory scale, through “the valley of death” into commercial application is a long and risky journey. Process innovations typically require gradual up-scaling and optimization of the production technologies (e.g., [ 29 ]). For small- and medium-sized firms in particular, this may be a major hurdle.

In brief, the above suggests that it is difficult to anticipate what a baseline scenario of the global economy – i.e., a scenario involving no new policies – would look like from a sustainability perspective. Still, overall it is likely that green capitalism and sustainability entrepreneurship alone may have problems delivering the green economy transition in (at least) two respects. First, due to the presence of knowledge spillovers and the need for long-term risk-taking, the baseline scenario may involve too few radical technology shifts (e.g., in process industries). Second, the baseline scenario is very likely to involve plenty of digitalization and automation, in turn considerably increasing the potential for material and energy efficiency increases. Nevertheless, due to rebound effects, the efficiency gains resulting from new technologies alone may likely not be enough to address the sustainability challenge. This therefore also opens up the field for additional policy support, and – potentially – a rethinking of the role of the state in promoting sustainable technological change.

An important task for government policy is to set the appropriate “framework conditions” for the economy. This refers primarily to the legal framework, e.g., immaterial rights, licensing procedures, as well as contract law, which need to be predictable and transparent. Traditional environmental policy that regulates emissions either through taxes or performance standards will remain important, as will the removal of environmentally harmful subsidies (where such exist). The role of such policies is to make sure that the external costs of environmental pollution are internalized in firms’ and households’ decision-making (e.g., [ 7 ]). Still, in the light of the challenges discussed above – i.e., controlling diffuse emissions, the need for more fundamental sustainable technological change, as well as the private sector’s inability to adequately tackle these two challenges – the role of the state must often go beyond providing such framework conditions. In fact, there are several arguments for implementing a broader mix of policy instruments in the green economy.

In the waste management field, policy mixes may be needed for several reasons. For instance, previous research shows that in cases where diffuse emissions cannot be directly controlled and monitored, a combined output tax and recycling subsidy (equivalent to a deposit-refund system) can be an efficient second-best policy instrument mix (e.g., [ 59 ]). This would reduce the amount of materials entering the waste stream, while the subsidy encourages substitution of recycled materials for virgin materials. Footnote 6 An extended waste management policy mix could also be motivated by the limited incentives for manufacturers of products to consider product design and recyclability, which would decrease the costs of downstream recycling by other firms. This is, though, an issue that often cannot be addressed by traditional policies such as taxes and standards; it should benefit from technological and organizational innovation. Finally, the establishment of efficient markets for recycled materials can also be hampered by different types of information-related obstacles, including byers’ inability to assess the quality of mixed waste streams. In such a case, information-based policies based on, for instance, screening requirements at the waste sites could be implemented (e.g., [ 46 ]).

At a general level, fostering green technological development, not least radical innovation, must also build on a mix of policies. The literature has proposed an innovation policy mix based on three broad categories of instruments (see also [ 36 , 51 , 52 ]):

Technology-push instruments that support the provision of basic and applied knowledge inputs, e.g., through R&D grants, patent protection, tax breaks etc.

Demand-pull instruments that encourage the formation of new markets, e.g., through deployment policies such as public procurement, feed-in tariffs, quotas, etc.

Systemic instruments that support various functions operating at the innovation system level, such as providing infrastructure, facilitating alignment among stakeholders, and stimulating the development of goals and various organizational solutions.

A key role for a green innovation policy is to support the development of generic technologies that entrepreneurial firms can build upon [ 50 ]. Public R&D support and co-funding of pilot and demonstration plants help create variation and permit new inventions to be verified, optimized and up-scaled. As noted above, there is empirical support for public R&D funding of green technology development, as underinvestment due to knowledge spillovers might be particularly high for these technologies.

As the technology matures, though, it must be tested in a (niche) market with real customers, and the state will often have to create the conditions for private firms to raise long-term funding in areas where established financial organizations are not yet willing to provide sufficient funds. For instance, in the renewable energy field, this has been achieved by introducing feed-in tariffs or quota schemes for, for instance, wind power and solar PV technology (e.g., [ 16 ]). Finally, well-designed systemic instruments will have positive impacts on the functioning of the other instruments in the policy mix; while technology-push and demand-pull instruments are the engines of the innovation policy mix, the systemic instruments will help that engine run faster and more efficiently.

The implementation of the above policy mixes will be associated with several challenges, such as gaining political acceptability, identifying the specific designs of the policy instruments, and determining how these instruments can be evaluated. All these issues deserve attention in future research. Still, here we highlight in particular the need for policies that are technology-specific; i.e., in contrast to, for instance, pollution taxes or generic R&D subsidies they promote selected technological fields and/or sectors. Based on the above discussions one can point out two motives for relying on technology-specific instruments in promoting sustainable technological change: (a) the regulations of diffuse emissions can often not target diffuse emissions directly – at least not without incurring excessively high monitoring costs; and (b) the need to promote more radical environmental innovations.

The innovation systems surrounding green energy technology tend to be technology-specific. Different technologies are exposed to unique and multi-dimensional growth processes, e.g., in terms of bottlenecks, learning processes, and the dynamics of the capital goods industries [ 34 ]. The nature of the knowledge spillovers and the long-term risks will also differ as will the likelihood that green technologies suffer from technological lock-in associated with incumbent technology (e.g., [ 38 ]). For instance, the technological development process for wind power has been driven by turbine manufacturers and strong home markets, while equipment suppliers and manufacturers that own their own equipment have dominated solar PV development [ 32 ].

Clearly, technology-specific policies are difficult to design and implement; regulators typically face significant information constraints and their decisions may also be influenced by politico-economic considerations such as bureaucratic motives, and lobby group interests. Moreover, the prospects for efficient green technology-specific policies may likely also differ across jurisdictions; some countries will be more likely to be able to implement policies that can live up to key governing principles such as accountability, discipline and building on arms-length interactions with the private sector. As noted by Rodrik [ 50 ], “government agencies need to be embedded in, but not in bed with, business,” (p. 485).

The above begs the question whether the governance processes at the national and the supra-national levels (e.g., the EU) are in place to live up to a more proactive and transformative role for the state. Newell and Paterson [ 45 ] argue that such a state needs to balance two principles that have for long been seen as opposed to one another. These are, one the one hand, the empowerment of the state to actively determine priorities and, on the other, “providing citizens with more extensive opportunities to have a voice, to get more involved in decision-making processes, and to take on a more active role in politics,” (p. 209). The latter issue is further addressed also in the next section.

In brief, the climate and environmental challenges facing society today require a mix of policy instruments, not least because the barriers facing new sustainable technology are multi-faceted and often heterogeneous across technologies. Supporting green innovation should build on the use of technology-specific policies as complements to traditional environmental policies. This in itself poses a challenge to policy-making, and requires in-depth understanding of how various policy instruments interact as well as increased knowledge about the institutional contexts in which these instruments are implemented.

The transition to a green economy, including technological change, affects the whole of society. It is therefore necessary to not only optimize the performance of the new technologies and identify efficient policies; the most significant distributional impacts of technological change must also be understood and addressed. All societal changes involve winners and losers, and unless this is recognized and dealt with, the sought-after green transition may lack in legitimacy across various key groups in society. Bek et al. [ 6 ] provide an example of a green economy initiative in South Africa – the so-called Working for Water (WfW) program – that has failed to fully recognize the social aspects of the program goals.

This challenge concerns different dimensions of distributional impacts. One such dimension is how households with different income levels are affected. Economics research has shown that environmental policies in developed countries, not least taxes on pollution and energy use, tend to have regressive effects [ 22 ], thus implying that the lowest-income households are generally most negatively affected in relative terms. Such outcomes may in fact prevail also in the presence of policies that build on direct support to certain technological pathways. For instance, high-income households are likely to benefit the most from subsidies to solar cells and electric cars, this since these households are more likely to own their own house as well as to be more frequent car buyers. Of course, technological change (e.g., digitalization, automation etc.), including that taking place in green technology, may also have profound distributional impacts in more indirect ways, not the least through its impacts on the labor market (e.g., wages. Work conditions) (e.g., [ 3 ]).

The regional dimension of sustainable development is also important (e.g., [ 26 ]). One challenge in this case is that people increasingly expect that any green investments taking place in their own community (e.g., in wind power) should promote regional growth, employment and various social goals. The increased emphasis on the distributional effects at the regional level can also be attributed to the growing assertion of the rights of people (e.g., indigenous rights), and increased demands for direct participation in the relevant decision-making processes. However, new green technology may fail to generate substantial positive income and employment impacts at the local and regional level. For instance, one factor altering the renewable energy sector’s relationship with the economy has been technological change. A combination of scale economies and increased capital intensity has profoundly increased the investment capital requirements of facilities such as wind mill parks and biofuel production facilities. The inputs into modern green energy projects increasingly also have to satisfy high standards in terms of know-how, and these can therefore not always be supplied by local firms (e.g., [ 18 ]). Indeed, with the implementation of digital technology, the monitoring of, say, entire wind farms can today be done by skilled labor residing in other parts of the country (or even abroad).

Ignoring the distributional effects of sustainable technological change creates social tensions, thereby increasing the business risks for companies and sustainability entrepreneurs. Such risks may come in many forms. For instance, reliability in supply has become increasingly important, and customers will generally not be very forgiving in the presence of disruptions following the emergence of tense community relations. Furthermore, customers, fund managers, banks and prospective employees do not only care about the industry’s output, but increasingly also about how the products have been produced.

In fact, while the economies of the world are becoming more integrated, political trends are pointing towards a stronger focus on the nation state and even on regional independence. If anything, this will further complicate the green economy transition. Specifically, it will need to recognize the difficult trade-offs between efficiency, which typically do require international coordination (e.g., in terms of policy design, and R&D cooperation), and a fair distribution of benefits and costs, which instead tends to demand a stronger regional and local perspective.

In brief, the various distributional effects of sustainable technological change deserve increased attention in both scholarly research and the policy domain in order to ensure that this change emerges in ways that can help reduce poverty and ensure equity. These effects may call for an even broader palette of policies (e.g., benefit-sharing instruments, such as regional or local natural resource funds, compensation schemes, or earmarked tax revenues), but they also call for difficult compromises between efficiency and fairness.

Conclusions and avenues for future research

The scope and the nature the societal challenges that arise as a consequence of the climate and environmental hazards are complex and multi-faceted, and in this article we have focused on five important challenges to sustainable technological change. These challenges are generic, and should be a concern for most countries and regions, even though the specific solutions may differ depending on context. In this final section, we conclude by briefly discussing a number of implications and avenues for future research endeavors. Footnote 7 These knowledge gaps may provide important insights for both the research community as well as for policy makers and officials.

It should be clear that understanding the nature of – as well as managing – socio-technical transitions represents a multi-disciplinary research undertaking. Collaborations between natural scientists and engineers on the one hand and social scientists on the other are of course needed to translate environmental and technical challenges into societal challenges and action. In such collaborative efforts, however, it needs to be recognized that technological change is not a linear process; it entails phases such as concept development, pilot and demonstration projects, market formation and diffusion of technology, but also with important iterations (i.e., feedback loops) among all of these phases. It should be considered how bridges between different technical and social science disciplines can be built, this in order to gain a more in-depth understanding of how technology-specific engineering inventions can be commercialized in various institutional contexts. Transition studies, innovation and environmental economics, as well the innovation system and the innovation management literatures, among others, could help provide such bridges. Other types of systems studies, e.g., energy system optimization modeling, will also be important.

In addition to the above, there should also be an expanded role for cross-fertilization among different social sciences, e.g., between the economics, management and political science fields and between the research on sustainability entrepreneurs and transition studies (see also [ 26 ]). This could help improve the micro-foundations of, for instance, innovation system studies, i.e., better understanding of companies’ incentives, drivers etc., but also stress the need for considering socio-technical systems in the management research. For instance, the focus on individual heroes that pervades much of the entrepreneurship literature may lead to a neglect of the multiple factors at work and the role of framework conditions such as institutions (e.g., legal rules, norms) and infrastructure at the national and local scales. Better integration of various conceptual perspectives on green business and innovation could generate less uncertain business-as-usual scenarios.

The discussions in this article also suggest that green innovation in the public sector should be devoted more attention in future research. This could, of course, focus on various institutional and organizational innovations in the form of new and/or revised policy instrument design. The challenges involved in designing and implementing technology-specific sustainability policies, typically referred to as green industrial policies [ 50 ], tend to require such innovation (e.g., to increase transparency, and avoid regulatory capture). These policies are essentially processes of discovery, both by the state and the industry, rather than a list of specific policy instruments. This implies learning continuously about where the constraints and opportunities lie, and then responding to these.

The risk associated with regulatory capture is one issue that deserves increased attention in future research, including how to overcome such risks. Comparisons of green industrial policies across countries and technological fields – as well as historical comparative studies – could prove useful (e.g., [ 8 ]). How different policies interact as well as what the appropriate level of decision-making power is, are also important questions to be addressed. Of course, given the context-specificity of these types of policies, such research must also address the issue of how transferable innovation and sustainable practices are from one socio-technical and political context to another.

Moreover, the growing importance of diffuse emissions also requires green innovation in the public sector. Specifically, implementing environmental regulations that are close to damages demand specific monitoring technologies that can measure pollution levels. The development of new technologies – which, for instance, facilitates cheap monitoring of emissions – ought to be promoted, but it is quite unclear who has the incentive to promote and undertake such R&D activities. Similar concerns can be raised about the innovations that permit consumers to better assess the environmental footprints of different products and services (e.g., [ 21 ]). Private firms cannot be expected to pursue these types of green innovations intensively. Nevertheless, governments often spend substantial amounts on funding R&D on pollution abatement technology, but less frequently we view government programs funding research on technologies that can facilitate policy enforcement and environmental monitoring.

Finally, the green economy transition should also benefit from research that involves various impact evaluations, including methodological innovation in evaluation studies. This concerns evaluations of the impacts of important baseline trends, e.g., digitalization and automation, globalization versus nationalization, etc., on environmental and distributional outcomes but also on the prospects for green innovation collaborations and various circular economy-inspired business models. Such evaluations could be particularly relevant for understanding possible future pathways for the greening – and de-carbonization – of key process industries. Clearly, there is also need for improved evaluations of policy instruments and combinations of policies. With an increased emphasis on the role of technology-specific policies, such evaluations are far from straightforward. They must consider the different policies’ roles in the innovation systems, and address important interaction effects; any evaluation must also acknowledge the policy learning taking place over time.

Availability of data and materials

Not applicable.

For instance, in the new system, workers had more autonomy and flexibility (e.g., [ 28 ]).

Clearly, given the focus on sustainable technological change, this article does not address all dimensions of the transition to a green economy. Heshmati [ 31 ] provides a recent review of the green economy concept, its theoretical foundations, political background and developmental strategies towards sustainable development. See also Megwai et al. [ 41 ] for an account of various green economy initiatives with a specific focus on developing countries, and Bartelmus [ 5 ] for a critical discussion of the link between the green economy and sustainable development.

For instance, it is typically less negative for the environment to landfill a substantial share of mining waste such as hard rock compared to recycling. Hard rock typically causes little environmental damage, except aesthetically, unless such waste interacts with surface or ground water [ 17 ].

In fact, patents protecting intellectual property rights could even slow down the diffusion of green technologies offering deep emission reductions by creating a bias towards development of close-to-commercial technologies. For instance, Budish et al. [ 10 ] shows that while patents award innovating companies a certain period of market exclusivity, the effective time period may be much shorter since some companies choose to file patents at the time of discovery rather than at first sale. One consequence of this is that the patent system may provide weak incentives for companies to engage in knowledge generation and learning about technologies that face a long time between invention and commercialization.

The UNFCCC [ 56 ] reports substantial increases in climate-related global finance flows, but these flows are still relatively small in the context of wider trends in global investment. They are even judged to be insufficient to meet the additional financing needs required for adaptation to the climate change that cannot be avoided.

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Acknowledgements

Financial support from Nordforsk (the NOWAGG project) is gratefully acknowledged, as are valuable comments on earlier versions of the manuscript from Åsa Ericson, Johan Frishammar, Jamil Khan, Annica Kronsell, one anonymous reviewer and the Editor. Any remaining errors, however, reside solely with the author.

Financial support from Nordforsk and the NOWAGG project on Nordic green growth strategies is gratefully acknowledged. Open access funding provided by Lulea University of Technology.

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Topics & Ideas: Oceanography

• The impact of ocean acidification on kelp forests and biogeochemical cycles
• The role of ocean currents in distributing heat and regulating desert rain
• The impact of carbon monoxide pollution on ocean chemistry and biogeochemical cycles
• Investigating the role of ocean mixing in regulating coastal climates
• The impact of sea level rise on the resource availability of low-income coastal communities
• The impact of ocean warming on the distribution and migration patterns of marine mammals
• The impact of ocean deoxygenation on biogeochemical cycles in the arctic
• The role of ocean-atmosphere interactions in regulating rainfall in arid regions
• The impact of ocean eddies on global ocean circulation and plankton distribution
• The role of ocean-ice interactions in regulating the Earth’s climate and sea level

Tops & Ideas: Hydrology

• The impact of agricultural land-use change on water resources and hydrologic cycles in temperate regions
• The impact of agricultural groundwater availability on irrigation practices in the global south
• The impact of rising sea-surface temperatures on global precipitation patterns and water availability
• Investigating the role of wetlands in regulating water resources for riparian forests
• The impact of tropical ranches on river and stream ecosystems and water quality
• The impact of urbanisation on regional and local hydrologic cycles and water resources for agriculture
• The role of snow cover and mountain hydrology in regulating regional agricultural water resources
• The impact of drought on food security in arid and semi-arid regions
• The role of groundwater recharge in sustaining water resources in arid and semi-arid environments
• The impact of sea level rise on coastal hydrology and the quality of water resources

Topics & Ideas: Geology

• The impact of tectonic activity on the East African rift valley
• The role of mineral deposits in shaping ancient human societies
• The impact of sea-level rise on coastal geomorphology and shoreline evolution
• Investigating the role of erosion in shaping the landscape and impacting desertification
• The impact of mining on soil stability and landslide potential
• The impact of volcanic activity on incoming solar radiation and climate
• The role of geothermal energy in decarbonising the energy mix of megacities
• The impact of Earth’s magnetic field on geological processes and solar wind
• The impact of plate tectonics on the evolution of mammals
• The role of the distribution of mineral resources in shaping human societies and economies, with emphasis on sustainability

Topics & Ideas: Soil Science

• The impact of dam building on soil quality and fertility
• The role of soil organic matter in regulating nutrient cycles in agricultural land
• The impact of climate change on soil erosion and soil organic carbon storage in peatlands
• Investigating the role of above-below-ground interactions in nutrient cycling and soil health
• The impact of deforestation on soil degradation and soil fertility
• The role of soil texture and structure in regulating water and nutrient availability in boreal forests
• The impact of sustainable land management practices on soil health and soil organic matter
• The impact of wetland modification on soil structure and function
• The role of soil-atmosphere exchange and carbon sequestration in regulating regional and global climate
• The impact of salinization on soil health and crop productivity in coastal communities

Topics & Ideas: Environmental Chemistry

• The impact of cobalt mining on water quality and the fate of contaminants in the environment
• The role of atmospheric chemistry in shaping air quality and climate change
• The impact of soil chemistry on nutrient availability and plant growth in wheat monoculture
• Investigating the fate and transport of heavy metal contaminants in the environment
• The impact of climate change on biochemical cycling in tropical rainforests
• The impact of various types of land-use change on biochemical cycling
• The role of soil microbes in mediating contaminant degradation in the environment
• The impact of chemical and oil spills on freshwater and soil chemistry
• The role of atmospheric nitrogen deposition in shaping water and soil chemistry
• The impact of over-irrigation on the cycling and fate of persistent organic pollutants in the environment

Topics & Ideas: Environmental Economics

• The impact of climate change on the economies of developing nations
• The role of market-based mechanisms in promoting sustainable use of forest resources
• The impact of environmental regulations on economic growth and competitiveness
• Investigating the economic benefits and costs of ecosystem services for African countries
• The impact of renewable energy policies on regional and global energy markets
• The role of water markets in promoting sustainable water use in southern Africa
• The impact of land-use change in rural areas on regional and global economies
• The impact of environmental disasters on local and national economies
• The role of green technologies and innovation in shaping the zero-carbon transition and the knock-on effects for local economies
• The impact of environmental and natural resource policies on income distribution and poverty of rural communities

Topics & Ideas: Environmental Ethics

• The ethical foundations of environmentalism and the environmental movement regarding renewable energy
• The role of values and ethics in shaping environmental policy and decision-making in the mining industry
• The impact of cultural and religious beliefs on environmental attitudes and behaviours in first world countries
• Investigating the ethics of biodiversity conservation and the protection of endangered species in palm oil plantations
• The ethical implications of sea-level rise for future generations and vulnerable coastal populations
• The role of ethical considerations in shaping sustainable use of natural forest resources
• The impact of environmental justice on marginalized communities and environmental policies in Asia
• The ethical implications of environmental risks and decision-making under uncertainty
• The role of ethics in shaping the transition to a low-carbon, sustainable future for the construction industry
• The impact of environmental values on consumer behaviour and the marketplace: a case study of the ‘bring your own shopping bag’ policy

Examples: Real Dissertation & Thesis Topics

While the ideas we’ve presented above are a decent starting point for finding a research topic, they are fairly generic and non-specific. So, it helps to look at actual dissertations and theses to see how this all comes together.

Below, we’ve included a selection of research projects from various environmental science-related degree programs to help refine your thinking. These are actual dissertations and theses, written as part of Master’s and PhD-level programs, so they can provide some useful insight as to what a research topic looks like in practice.

• The physiology of microorganisms in enhanced biological phosphorous removal (Saunders, 2014)
• The influence of the coastal front on heavy rainfall events along the east coast (Henson, 2019)
• Forage production and diversification for climate-smart tropical and temperate silvopastures (Dibala, 2019)
• Advancing spectral induced polarization for near surface geophysical characterization (Wang, 2021)
• Assessment of Chromophoric Dissolved Organic Matter and Thamnocephalus platyurus as Tools to Monitor Cyanobacterial Bloom Development and Toxicity (Hipsher, 2019)
• Evaluating the Removal of Microcystin Variants with Powdered Activated Carbon (Juang, 2020)
• The effect of hydrological restoration on nutrient concentrations, macroinvertebrate communities, and amphibian populations in Lake Erie coastal wetlands (Berg, 2019)
• Utilizing hydrologic soil grouping to estimate corn nitrogen rate recommendations (Bean, 2019)
• Fungal Function in House Dust and Dust from the International Space Station (Bope, 2021)
• Assessing Vulnerability and the Potential for Ecosystem-based Adaptation (EbA) in Sudan’s Blue Nile Basin (Mohamed, 2022)
• A Microbial Water Quality Analysis of the Recreational Zones in the Los Angeles River of Elysian Valley, CA (Nguyen, 2019)
• Dry Season Water Quality Study on Three Recreational Sites in the San Gabriel Mountains (Vallejo, 2019)
• Wastewater Treatment Plan for Unix Packaging Adjustment of the Potential Hydrogen (PH) Evaluation of Enzymatic Activity After the Addition of Cycle Disgestase Enzyme (Miessi, 2020)
• Laying the Genetic Foundation for the Conservation of Longhorn Fairy Shrimp (Kyle, 2021).

Looking at these titles, you can probably pick up that the research topics here are quite specific and narrowly-focused , compared to the generic ones presented earlier. To create a top-notch research topic, you will need to be precise and target a specific context with specific variables of interest . In other words, you’ll need to identify a clear, well-justified research gap.

Need more help?

If you’re still feeling a bit unsure about how to find a research topic for your environmental science dissertation or research project, be sure to check out our private coaching services below, as well as our Research Topic Kickstarter .

Need a helping hand?

12 Comments

research topics on climate change and environment

Researched PhD topics on environmental chemistry involving dust and water

I wish to learn things in a more advanced but simple way and with the hopes that I am in the right place.

Thank so much for the research topics. It really helped

the guides were really helpful

Research topics on environmental geology

Thanks for the research topics….I need a research topic on Geography

hi I need research questions ideas

Implications of climate variability on wildlife conservation on the west coast of Cameroon

I want the research on environmental planning and management

I want a topic on environmental sustainability

It good coaching

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Green finance research around the world: a review of literature

• International Journal of Green Economics 16(1)

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Green economy and related concepts: An overview

• Sustainable Soil Use

Research output : Contribution to journal › Article › Academic › peer-review

For the last ten years, the notion of a green economy has become increasingly attractive to policy makers. However, green economy covers a lot of diverse concepts and its links with sustainability are not always clear. In this article, we focus on definitions of green economy and related concepts and an evaluation of these concepts against the criterion of strong and weak sustainability. The article serves three purposes: Firstly, we identify and describe diverse theories, concepts, approaches and tools related to a “green economy”. Among these are the theories of environmental economics and ecological economics, the concepts and approaches of cleaner production, waste hierarchy, bio-economy, industrial ecology, circular economy, nature-based solutions, and dematerialization through product-servicizing, and tools like life cycle assessment, and cost-benefit analysis. Secondly, we develop a framework that shows the capacity of the green economy concepts, approaches and tools to support the transition towards sustainability. Such a framework can serve as a heuristic to embed diverse concepts and approaches into a green economy framework. Thirdly, we briefly discuss green economy concepts with respect to their impact on strong and weak sustainability. Depending on the different concepts, approaches and tools identified in the green economy framework, different degrees of substitutability and trade-offs between environmental and economic benefits are allowed, and more or less structural changes of our modes of living are required. By discussing the notion of green economy and related concepts, approaches and tools we seek to make a contribution to their definitions and relationships as a prerequisite for operationalizing green economy.

• Ecological economics
• Environmental economics
• Green economy (GE)
• Substitutability
• Sustainability

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

• 10.1016/j.jclepro.2016.08.024

Fingerprint

• Green Economy Earth and Planetary Sciences 100%
• Alternative Economy Economics, Econometrics and Finance 100%
• Environmental Impact Assessment Earth and Planetary Sciences 36%
• Environmental Economics Economics, Econometrics and Finance 18%
• Ecological Economics Earth and Planetary Sciences 9%
• Structural Change Earth and Planetary Sciences 9%
• Life Cycle Assessment Earth and Planetary Sciences 9%
• Cleaner Production Earth and Planetary Sciences 9%

T1 - Green economy and related concepts

T2 - An overview

AU - Loiseau, Eleonore

AU - Saikku, Laura

AU - Antikainen, Riina

AU - Droste, Nils

AU - Hansjürgens, Bernd

AU - Pitkänen, Kati

AU - Leskinen, Pekka

AU - Kuikman, Peter

AU - Thomsen, Marianne

N2 - For the last ten years, the notion of a green economy has become increasingly attractive to policy makers. However, green economy covers a lot of diverse concepts and its links with sustainability are not always clear. In this article, we focus on definitions of green economy and related concepts and an evaluation of these concepts against the criterion of strong and weak sustainability. The article serves three purposes: Firstly, we identify and describe diverse theories, concepts, approaches and tools related to a “green economy”. Among these are the theories of environmental economics and ecological economics, the concepts and approaches of cleaner production, waste hierarchy, bio-economy, industrial ecology, circular economy, nature-based solutions, and dematerialization through product-servicizing, and tools like life cycle assessment, and cost-benefit analysis. Secondly, we develop a framework that shows the capacity of the green economy concepts, approaches and tools to support the transition towards sustainability. Such a framework can serve as a heuristic to embed diverse concepts and approaches into a green economy framework. Thirdly, we briefly discuss green economy concepts with respect to their impact on strong and weak sustainability. Depending on the different concepts, approaches and tools identified in the green economy framework, different degrees of substitutability and trade-offs between environmental and economic benefits are allowed, and more or less structural changes of our modes of living are required. By discussing the notion of green economy and related concepts, approaches and tools we seek to make a contribution to their definitions and relationships as a prerequisite for operationalizing green economy.

AB - For the last ten years, the notion of a green economy has become increasingly attractive to policy makers. However, green economy covers a lot of diverse concepts and its links with sustainability are not always clear. In this article, we focus on definitions of green economy and related concepts and an evaluation of these concepts against the criterion of strong and weak sustainability. The article serves three purposes: Firstly, we identify and describe diverse theories, concepts, approaches and tools related to a “green economy”. Among these are the theories of environmental economics and ecological economics, the concepts and approaches of cleaner production, waste hierarchy, bio-economy, industrial ecology, circular economy, nature-based solutions, and dematerialization through product-servicizing, and tools like life cycle assessment, and cost-benefit analysis. Secondly, we develop a framework that shows the capacity of the green economy concepts, approaches and tools to support the transition towards sustainability. Such a framework can serve as a heuristic to embed diverse concepts and approaches into a green economy framework. Thirdly, we briefly discuss green economy concepts with respect to their impact on strong and weak sustainability. Depending on the different concepts, approaches and tools identified in the green economy framework, different degrees of substitutability and trade-offs between environmental and economic benefits are allowed, and more or less structural changes of our modes of living are required. By discussing the notion of green economy and related concepts, approaches and tools we seek to make a contribution to their definitions and relationships as a prerequisite for operationalizing green economy.

KW - Ecological economics

KW - Environmental economics

KW - Green economy (GE)

KW - Substitutability

KW - Sustainability

KW - Trade-offs

U2 - 10.1016/j.jclepro.2016.08.024

DO - 10.1016/j.jclepro.2016.08.024

M3 - Article

AN - SCOPUS:84995579572

SN - 0959-6526

JO - Journal of Cleaner Production

JF - Journal of Cleaner Production

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12 Green Economy: Reframing Ecology, Economics, and Equity

• Published: September 2017
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The real and perceived conflicts among economic growth and ecological protection define one of the central tensions in environmental policy. The premise of the concept of a green economy is that it is possible at some level to transform this assumed, traditional zero-sum into a positive relationship. Although its intellectual origins may be traced to the fields of ecological economics, business greening, and ecological modernization, the green economy concept gained particular visibility in the wake of the 2009 financial crisis. This chapter argues that the green economy concept may be influential both in policy framing and as a framework for guiding and carrying out economic and political change. Three modifications in treatments of the concept would make it more acceptable and relevant for future policy debates: rethinking the purpose of growth as well as how it is achieved; shedding more light on economic inequality and its ecological consequences; and emphasizing the intrinsic as well as the utilitarian value of ecological assets and services.

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Green Economics

EPI’s research in this arena focuses on the role that public investment, regulation, and tax policy play in making the economy more sustainable and equitable.

Featured work

How to improve infrastructure project selection : account for positive regional spillovers, environmental impacts, and job creation benefits, what is the ideal mix of federal, state, and local government investment in infrastructure, testimony prepared for the subcommittee on highways and transit, transportation and infrastructure committee, u.s. house of representatives : for a hearing on “building a 21st century infrastructure for america—long-term funding for highways and transit programs”, by content:, the inflation reduction act finally gave the u.s. a real climate change policy, the industrial policy revolution has begun, but another is still needed : industrial policy and policies to rebalance labor market power are complements, not substitutes, the fed and a smooth macroeconomic transition to a cleaner u.s. economy, inflation is no excuse for inaction on needed tax reforms and investments, botched policy responses to globalization have decimated manufacturing employment with often overlooked costs for black, brown, and other workers of color : investing in infrastructure and rebalancing trade can create good jobs for all, president biden’s budget shows what true ‘fiscal responsibility’ means : pushing the economy closer to full employment, reducing inequality, and measuring the debt burden more accurately, the biden-harris administration’s first 100 days : how to assess progress for workers, rebuilding american manufacturing—potential job gains by state and industry : analysis of trade, infrastructure, and clean energy/energy efficiency proposals, epi’s model federal budget and tax plan : how we can raise the revenue needed to provide universal health care, strengthen safety nets, and shore up public investment, how to think about the job-creation potential of green investments: a boost to labor demand that will create some jobs, shift some others—and increase job-quality overall, what we read today, with friends like these : the carbon tax edition, green ‘sequester’ is already costing u.s. jobs : job losses from ongoing clean-tech cuts will rival those from defense cuts, counting up to green : assessing the green economy and its implications for growth and equity, green jobs are good jobs for african americans, climate change policy—border adjustment key to u.s. trade and manufacturing jobs, clunkers program drives economic, environmental gains, why this earth day is different than all others, green investments and the labor market : how many jobs could be generated and what type, employment impacts of clean edge act proposals, the employment impact of environmental investment : a conceptual framework, the impact of proposed greenhouse gas control policies on coal mining and railroad employment.

• Open access
• Published: 20 December 2023

Emerging new themes in green finance: a systematic literature review

• H. M. N. K. Mudalige   ORCID: orcid.org/0000-0002-4497-4750 1  

Future Business Journal volume  9 , Article number:  108 ( 2023 ) Cite this article

5713 Accesses

Metrics details

There is a need for an extensive understanding of the emerging themes and trends within the domain of green finance, which is still evolving. By conducting a systematic literature review on green finance, the purpose of this study is to identify the emerging themes that have garnered significant attention over the past 12 years. In order to identify the emerging themes in green finance, bibliometric analysis was performed on 978 publications that were published between 2011 and 2023 and were taken from the databases of Scopus and Web of Science. The author examined annual scientific production, journal distribution, countries scientific production, most relevant authors, most frequent words, areas where empirical research is lacking, words' frequency over time, trend topics, and themes of green finance. The outcome of the review identified the following seven themes: (i) green finance and environmental sustainability; (ii) green finance and investments; (iii) green finance and innovation; (iv) green finance policy/green credit guidelines; (v) green finance and economy; (vi) green finance and corporate social responsibility; (vii)trends/challenges/barriers/awareness of green finance. The analysis of these emerging themes will contribute to the existing corpus of knowledge and provide valuable insights into the landscape of green finance as it evolves.

Introduction

Cities will face their greatest challenges ever during the next 30 years, and three-quarters of the world's population will reside in urban areas by 2050 due to the unparalleled rate of urbanization as a result of population growth, resource scarcity, such as peak oil, water shortages, and food security [ 100 ].

One of the main challenges in building and maintaining sustainable cities is discovering the sources required to fund vital infrastructure, development, and maintenance activities that have a sustainable future. To achieve the creation of sustainable cities, there is a need for green projects via green financial bonds, green banks, carbon market tools, other new financial instruments, new policies, fiscal policy, a green central bank, fintech, community-based green funds, and expanding the financing of investments that provide environmental benefits [ 26 , 78 ].

It is evident that green financing plays a crucial role in promoting sustainable initiatives. Thus, a transition from a rising economy to a green economy necessitates that a country's leadership offers green financing [ 112 ]. To assure green economic growth, nations around the world have invested in green projects to promote, invent, and employ environmentally friendly technologies to safeguard the environment and maximize environmental performance [ 55 ]. Because of new stakeholders' and institutions' understanding of environmental issues, regulatory authorities are likely to seek out extra ecologically acceptable financial resources. In an effort to establish environmental legitimacy, this type of environmental proactivity will be required when new methods of providing financial resources and green financing arise.

In numerous ways, the impact of adopting green financing is proven. First, green finance provides financial support for firms engaged in green innovation, including the purchase of green equipment, the introduction of new environmentally efficient technologies, and the training of their personnel. Second, green funding from various projects can assist stakeholders (organizations, governments, and regulators) in spending R&D funds on environmental challenges and minimize the associated risk with green legislation. Lastly, green policies have higher costs than conventional practices, and green finance can assist an organization in covering these expenses without encountering significant financial obstacles. As a result, green finance-driven economic growth can significantly support green policies, lessen environmental pollution, and build sustainable cities [ 128 ].

There have previously been systematic literature reviews conducted in the green finance area. However, a study's reliance on one database can exclude some recent developments in green finance from its analysis [ 93 ]. Findings from several databases could be compared and contrasted to create a more all-encompassing view of the area. Therefore, this study focuses on using Scopus and WoS databases.

Though additional methods, such as systematic literature reviews (SLR) and more complex network analyses such as co-occurrence of index terms, citations, co-citations, and bibliometric coupling, are available, previously conducted studies used a fundamental bibliometric technique [ 23 ]. A more detailed picture of the green finance study setting may emerge from an examination of the identification of various themes.

As part of a systematic review of the literature concerning emerging trends in green finance, it is critical to ascertain the dominant themes that are present in the field. By adopting this methodology, an intentional emphasis is placed on maintaining the review's relevance and excluding any studies that are obsolete. In addition, by identifying and classifying these themes, one can gain significant knowledge regarding the ever-changing characteristics of green finance, thereby illuminating the latest advancements and patterns. A study conducted by Pasupuleti and Ayyagari [ 99 ] identified different themes in green finance, but the researchers were only focused on polluting companies. By amalgamating insights from the literature review, one can attain a holistic comprehension of the current state of research in the field of green finance. Additionally, this process identifies areas where additional inquiry is necessary. Engaging in such an undertaking provides advantages not only to the scholarly community but also carries practical implications for policymakers, practitioners, and investors, assisting them in formulating effective policies and investment strategies and making well-informed decisions.

Green finance research is growing rapidly. However, the rising themes and trends in green finance literature must be comprehended. A comprehensive literature review can summarize current knowledge, identify research gaps, and identify the field's most relevant topics. This study seeks to uncover green finance's emerging themes through a rigorous literature review. This research aims to advance green finance knowledge by synthesizing and analyzing a wide range of scholarly articles.

Methods and methodology

Study selection process and methods.

In this study, a systematic literature review (SLR) was applied. It used inclusion criteria, analysis techniques, and a more objective method of article selection. As recommended for SLRs [ 65 ] with regard to the article selection process, the PRISMA article selection steps were adhered to. The steps are "identification," "screening," and "included". The steps that were taken in this study are shown in Fig.  1 .

PRISMA article selection flow diagram. Note : Search algorithm; “green finance” . Sources (s) Authors Construct, 2023

In the identification phase, the search terms, search criteria, databases, and data extraction technique are chosen. The keyword to use in the search was "green finance" as the study is aimed at identifying emerging themes in green finance.

The identified articles need to be screened in accordance with the PRISMA guidelines. The tasks carried out at the screening were the screening, retrieval, and evaluation of each article's eligibility. According to Priyashantha et al. in [ 103 ], articles in each task that did not meet the inclusion criteria were removed. The "empirical studies" published in "Journals" from "2011–2023" in "English" were the inclusion criteria for screening the articles. In 2023, up to May, the journal articles were chosen.

This screening was carried out both manually and automatically. Utilizing Scopus' and Web of Science's (WoS) automatic article screening features by study type, language, report type, and publication date, articles achieving the inclusion criteria "empirical studies" published in "English" "journals" from "2011–2023″ were included. The other publication types such as conference papers, book chapters, reviews, research notes, editor's comments, short surveys, and unpublished data, as well as non-English articles and articles published within the considered year range, were excluded. The full versions of the screened articles were then retrieved for the eligibility assessment, the next stage of screening. The author manually evaluated each article's eligibility.

Study risk of bias assessment

Researcher bias in article selection and analysis lowers the quality of reviews [ 8 , 102 ]. Avoiding bias in article selection and analysis requires using a review protocol, adhering to a systematic, objective article selection procedure, using objective analysis methods [ 8 , 102 ], and performing a parallel independent quality assessment of articles by two or more researchers [ 8 ]. By adhering to all of these requirements, the risk of bias in the articles was removed.

Methods of analysis

Biblioshiny and VOSviewer were used for bibliometric analysis. Green finance literature was captured by Scopus and WoS. These databases were used exclusively to get a representative sample of journal articles to study green finance articles. The data were collected and analyzed using Biblioshiny. Select databases can be systematically extracted and analyzed with the software. It collects year-by-year article distribution, journal distribution, country-specific scientific production, most relevant authors, most frequent words, word frequency over time, trend topics, density visualization, etc.

Trends and patterns were found by analyzing green finance paper distribution by year. This analysis shows green finance research's growth. By analyzing article distribution by year, we may also establish green financing and rising theme trends. To identify green finance research publications, article distribution was studied. Academic journal distribution can indicate green finance's prominence in various academic journals. Analyzing scientific production by region reveals regional green finance research tendencies. Scientific production across nations identifies knowledge-producing regions.

Analyzing influential green finance authors helps identify their contributions. This strategy acknowledges influential scholars. The research's most frequently used words reveal the fundamental questions and ideas of environmentally responsible economics. This analysis reveals the discipline's primary topics and studies. By counting words, it may focus on green finance's most important and widely used components. Word frequency can show how green finance's focus has shifted. By tracking word usage, it can identify trending topics. This analysis reveals changing green finance research priorities. Biblioshiny explores green financial trends. This study reveals new topics, research gaps, and subject interests. The trend themes allow us to evaluate green finance studies.

Results and findings

Study selection.

The PRISMA flow diagram illustrates that during the identification step, 528 articles from the WoS database and 1183 articles from the Scopus database that include the term "green finance" were identified. There were 402 duplicates, which were removed. The overall number of articles remained at 1302 at that point. Further attempts were made to include papers on empirical investigations in the final versions that were published in English. 34 non-English articles were thus disregarded. In addition, 295 papers from conferences, book chapters, reviews, news articles, notes, letters, abstracts, and brief surveys were not included. Two articles were disqualified because they were published before 2011. The next step was to retrieve the remaining 978 articles and transfer their pertinent data to an MS Excel file, including the article's title, abstract, keywords, authors' names and affiliations, journal name, citation counts, and year of publication. After that, each article was examined by a third party to determine whether it met the requirements for its eligibility.

Study characteristics

Main information.

This study examined 978 studies by 1830 authors from 59 countries. They've been published in 281 publications. The average number of citations each article received was 12.37. There were a total of 2206 keywords and 44,712 references. This information is detailed in Table  1 .

Annual scientific production

The fluctuations in green financing for scientific production are depicted in Fig.  2 . In 2011, two articles were published that demonstrated interest in this research. No publications were released in 2012, indicating a paucity of research or interest. The trend persisted in 2013 with two articles. One publication appeared in 2014, indicating a halt in research. Since 2015, scientific output has gradually increased. In 2015, three articles contributed to the development of green finance research. Two articles survived in 2016. With eleven articles published in 2017, green finance has become a significant area of study. In 2018, 23 articles were published; in 2019, there will be 42. With 45 publications in 2020, green finance research remains robust. Green finance research increased to 132 publications in 2021. This significant increase in articles on the subject indicates a growing interest in the matter. The publication of 403 research articles in 2022 represents a notable increase. This increase reflects the expanding literature on green finance and its academic significance.

Year-wise research article distribution. Source (s): Author created, 2023

Journal distribution

Table 2 consists of a list of journals that were included in the sample and had more than six relevant papers published inside the journals. The majority of the journals that publish articles relating to green finance are, unsurprisingly, those that focus on environmental science, renewable energy, and sustainability. This is despite the fact that finance is considered an essential component of green financing. Not a single journal in the field of finance was able to attract more than 10 papers.

Based on the number of papers, Environmental Science and Pollution Research emerges as the top journal, demonstrating a strong focus on comprehending the intersection between environmental science, pollution, and financial aspects. The prevalence of journals focused on renewable energy and sustainability, each of which publishes 50 papers, demonstrates the growing interest in examining the financial aspects of sustainable development and renewable energy sources. The fact that Resources Policy was included in the list of 49 papers indicates that a significant emphasis was placed on understanding the financial implications of resource management and extraction.

Green finance is interdisciplinary in nature, exploring the connections between finance and various environmental issues, as evidenced by the existence of interdisciplinary journals like Frontiers in Environmental Science. The existence of journals like Finance Research Letters and Economic Research-Ekonomska Istrazivanja highlights the importance of economic and financial analysis in the context of green finance.

Countries scientific production

The analysis of region frequencies in the provided data in Fig.  3 reveals intriguing patterns and highlights the varying levels of research focus in various countries. The analysis is focused on the top ten countries for scientific production on green finance.

China is the part of the world most frequently mentioned, with a striking frequency of 993. This suggests a significant research interest in comprehending and analyzing diverse aspects of China's economy, policies, and development. Given China's status as the world's most populous nation and its growing global influence, it is unsurprising that researchers have devoted considerable effort to examining China's position in various fields, including finance, sustainability, and innovation.

Pakistan follows with a frequency of 79, indicating a notable but relatively lower research emphasis. Researchers may have investigated particular Pakistan-related topics, such as its economy, governance, or social issues. Pakistan may be of particular interest to a subset of researchers, or there may be a paucity of relevant literature in the analyzed dataset.

With a frequency of 60, the UK is the third-most-mentioned region. This demonstrates a sustained interest in researching various aspects of the UK, such as its economy, financial sector, and policies. It is possible that the historical significance of the UK, particularly in terms of finance and international relations, contributed to its prominence in literature.

Most relevant authors

The prominent and active contributors to the discipline are shown in Fig.  4 . Wang Y has significantly added to the body of literature. The top authors have a constant record of publishing, which shows a dedication to knowledge advancement and suggests a high level of expertise in their field of study.

In this section, the findings that conform to the aims of the research are reported. The conclusions were generated through the use of trend themes, keyword co-occurrence analysis, "most frequent words," and "word frequency over time." During the course of the investigation, both the "keyword co-occurrence; network visualization" and the "density visualization" methods were applied.

Most frequent words

The analysis of the most frequent words sheds light on the emerging themes in the field of green finance, as illustrated in Table  3 and Fig.  5 . A significant emphasis on China, which appears 253 times in the literature, is one of the important observations. This indicates that China's initiatives and role in the context of sustainable finance and green investment are gaining increasing recognition. China's approach to green finance and its potential implications for global sustainability initiatives are likely the primary focus of researchers and policymakers.

The term "finance" appears 122 times, emphasizing the importance of financial mechanisms and instruments to the advancement of green initiatives. This emphasizes the significance of financial institutions, policies, and frameworks that support environmental protection and sustainable development. The frequency of the term "investment" (103) emphasizes the significance of allocating financial resources to environmentally friendly businesses and initiatives.

The 105 occurrences of "sustainable development" indicate the close relationship between green finance and broader sustainability goals. This indicates that researchers and practitioners recognize the need to align financial decisions with environmental, social, and governance (ESG) factors in order to achieve long-term sustainable development objectives.

The terms "green economy" (75) and "environmental economics" (57) refer to the integration of environmental considerations into economic systems and decision-making procedures. This emphasizes the importance of transitioning to environmentally sustainable economic models and policies.

The frequency of terms such as "carbon," "carbon emissions," and "carbon dioxide" (55, 55, and 51 times, respectively) indicates a focus on mitigating greenhouse gas emissions and addressing climate change via financial mechanisms. This is consistent with the worldwide drive for decarbonization and the transition to low-carbon economies.

In addition, the terms "innovation" (71), "impact" (67), and "efficiency" (49) emphasize the significance of technological advancements, measurable outcomes, and resource optimization in green finance. These ideas illustrate the ongoing pursuit of innovative strategies and solutions to promote positive environmental impact while maximizing resource utilization.

The terms "sustainability" (44), "policy" (49), and "financial system" (41) highlight the need for policy frameworks and a robust financial system to facilitate the incorporation of sustainability considerations into mainstream finance. These themes emphasize the critical role that regulations, incentives, and institutional arrangements play in promoting green finance practices and nurturing a sustainable economy.

In addition, the terms "climate change" (50) and "alternative energy" (42) suggest an emphasis on addressing climate-related issues and investigating renewable and sustainable energy sources. This demonstrates an acknowledgment of the role of green finance in the transition to a low-carbon, resilient future.

The relationships between the keywords depicted as nodes are displayed in Fig.  6 's keyword co-occurrence network visualization. The link shows how each keyword relates to the others. In particular, the thickness of the line indicates how strong the relationship is. As a result, Fig.  8 illustrates how China and green finance are connected by a thicker line, showing that the majority of green finance research is carried out in China. Additionally, the connection between finance, sustainable development, and investments in green finance shows their connection to green finance. In Fig.  6 , the nodes are grouped into the red, green, and blue clusters. These clusters contain the keywords listed in Table  3 for each one. The various clusters in Fig.  6 demonstrate how different areas of research had distinct effects on green financing. When keywords are grouped together, it indicates that the topics they refer to are quite likely to be the same. As a result, the red, green, and blue clusters in Fig.  6 highlight common themes, while Table  4 provides explanations for the clusters.

The keyword co-occurrence network visualization

Areas where empirical research is lacking

Figure  7 displays the density visualization map that the VOSviewer generated. The VoSviewer manual states that a node with a red background denotes sufficient research for established knowledge and that it is evident that more study on green finance is still needed. On the other hand, keyword nodes with a green background show that there hasn't been much research on those particular keywords. Other than finance and China, the other keywords in the figure are therefore in the green background, which denotes insufficient research.

The keyword co-occurrence density visualization

Word’s frequency over time

The analysis of words' frequency over time in Fig.  8 reveals a number of significant trends. Beginning in 2018, the frequency of the term "China" increases considerably, with a significant rise in 2022 and a peak of 253 occurrences in 2023. This indicates a growing emphasis on China's role in green finance and its expanding prominence in the academic literature.

The persistent occurrence of the term "finance" over the years indicates the sustained significance of financial mechanisms and instruments in the context of green finance research. Its increasing frequency over time demonstrates the continued emphasis placed on financial aspects of the field.

The consistent growth of the term "sustainable development" from 2016 to 2019 indicates a growing recognition of the connection between green finance and broader sustainability objectives. However, after 2019, its occurrence remains comparatively stable, indicating that sustainable development has become a well-established and consistent theme in the literature.

Similarly, the term "investment" has maintained a consistent presence throughout the years, indicating a continued emphasis on allocating financial resources to green and sustainable initiatives. Its frequency fluctuates but remains relatively high throughout the period under consideration.

The frequency of the term "economic development” increased gradually until 2021, after which it remained relatively stable. This indicates that researchers have acknowledged the need to incorporate economic development and sustainable practices, resulting in a continued emphasis on this topic.

Similar to the term "investments," it has maintained a consistent presence throughout the years. This demonstrates a persistent desire to investigate investment opportunities and strategies within the context of green finance.

The frequency of the term "green economy” increased until 2020, after which it stabilized. This demonstrates an ongoing commitment to transitioning to a greener and more sustainable economy.

The terms "innovation" and "impact" have exhibited a general upward trend over the years. This suggests that innovative approaches to measuring the impact of green finance initiatives and projects are gaining importance.

The term "green finance" has been used significantly more frequently, particularly after 2021. This demonstrates the increasing interest and focus on the specific discipline of green finance, reflecting its emergence as a distinct research area within the context of sustainable finance as a whole.

Trend topics

Insights into novel areas and their developments over time can be gained from an analysis of trend themes using author keywords in the bibliometric data, as shown in Fig.  9 .

Trend Topics

There are nine times where the "Paris Agreement" is mentioned as a subject. It was consistently present from 2019 to 2022, demonstrating a strong interest in comprehending the ramifications and execution of this global climate agreement. The Paris Agreement's effects on environmental regulations and attempts to slow down climate change were probably among the topics on which researchers concentrated.

Seven uses of the word "environment" show that it is a recurring subject. This implies maintaining a focus on environmental concerns and the interactions between human actions and the environment as a whole. It's likely that academics and researchers have examined numerous environmental concerns and their effects on various industries and regulations.

Six occurrences of "regional economy" are found in the literature. This shows a rise in interest in learning about the dynamics and growth of regional economies and how they relate to sustainable practices. The emphasis on regional economies indicates that scholars are looking at the regional and context-specific elements affecting sustainable development and economic progress.

Another subject with five mentions per topic is "crowdfunding". This shows that crowdsourcing is becoming more and more popular as a method of finance, especially for sustainable projects. Crowdfunding's ability to assist green projects, as well as the opportunities and challenges that come with it, has probably been studied by researchers.

With 631 occurrences, the topic "green finance" stands out due to its very high frequency and demonstrates its rising importance in the literature. This demonstrates a rise in interest in the nexus between finance and environmental sustainability. The methods, laws, and procedures that encourage financial investments in green projects and companies have probably been studied by academics and policymakers.

With 92 mentions, "China" stands out as being quite popular. In the context of green finance and sustainable development, this suggests a strong focus on China's participation. Researchers are probably looking at China's policies and initiatives and how they may affect international sustainability efforts.

The phrase "sustainable development" also comes up 70 times, demonstrating a steadfast interest in learning and implementing sustainable practices in a variety of fields. There is a good chance that academics have looked into the frameworks, policies, and tactics that help achieve long-term sustainable development goals.

Seventeen times are mentioned when the term "carbon neutrality" is brought up, which shows that efforts to achieve it are becoming more and more of a priority. To minimize greenhouse gas emissions and combat climate change, researchers have probably looked into a variety of strategies and regulations.

ESG (environmental, social, and governance) is a term with a frequency of ten references, which reflects the growing understanding of the significance of ESG aspects in investment choices and company practices. The incorporation of ESG factors into financial analysis and decision-making processes has probably been researched by researchers and practitioners.

Last but not least, the phrase "green finance policy" is used nine times, showing that policies that support and oversee green finance efforts are a particular emphasis of the study. It's likely that academics and policymakers have looked at how well these policies work and how they affect the growth of sustainable practices and investments.

In conclusion, study subjects that have attracted interest over time are shown by an analysis of trend topics in the bibliometric data. These themes show the continued attempts to understand and manage environmental concerns through research, policy, and finance, from global agreements like the Paris Agreement to specific topics like green finance and sustainable development.

Themes of green finance

This study uncovered a variety of topics relating to green finance as well as potential areas for further research. The descriptions of the themes are presented in Fig.  10 . Different themes related to green finance, along with significant studies that contributed significantly, are discussed below.

Green finance and environmental sustainability

In recent years, there has been a growing emphasis on the significance of green finance and environmental sustainability, leading to increased attention and focus in both academic research and practical applications. The world is currently experiencing an unparalleled environmental crisis, with issues like resource depletion, biodiversity loss, and climate change becoming more pressing. Green finance, which falls under the umbrella of sustainable finance, centers its attention on investments and financial methods that not only yield economic profits but also contribute to favorable environmental consequences.

Existing research mostly focuses on green finance and environmental sustainability in Asian countries, with specific focus on China. Green finance's function in low-carbon development has been thoroughly studied in relation to carbon emissions [ 13 , 147 ]. Green financing and renewable energy growth have also received attention, aiding China's clean energy revolution [ 4 , 12 , 20 , 21 , 40 , 49 , 51 , 56 , 61 , 67 , 72 , 75 , 76 , 80 , 85 , 89 , 97 , 104 , 105 , 107 , 109 , 110 , 119 , 121 , 129 , 135 , 144 , 145 , 149 , 169 , 172 ]. Environmental rules and green finance have also been studied to determine how well they promote sustainable financing [ 19 , 22 , 62 , 114 , 123 , 145 , 159 ].

When it comes to the study of regions outside of Asia, such as Africa, South America, and parts of Europe, there is a significant knowledge gap. It may be helpful to gain useful insights into regional variances and strategies if one is able to comprehend the various ways in which these various regions approach green financing and environmental sustainability initiatives.

Green finance and investments

Following a global shift toward sustainable and ecologically responsible economic practices, green finance and investments have developed dramatically.

Green bond quality and effectiveness, notably in China, is a major study topic. Green bonds finance ecologically friendly projects, therefore verifying their quality is crucial to green financial markets. To help green bonds meet sustainability goals, researchers have studied their quality procedures and standards [ 3 , 6 , 9 , 10 , 33 , 34 , 35 , 38 , 79 , 92 , 95 , 108 , 115 , 164 ]. The relationship between green and non-green investments is another frequent research topic. Researchers have studied the hedging or diversification impacts of these two assets. This study examines how green and non-green investments affect portfolio strategies, risk management, and the financial environment [ 1 , 116 ]. Another interesting relationship is natural resource richness, FDI, and regional eco-efficiency. Given global agreements like COP26, scholars are studying how natural resources and FDI effect regional ecological efficiency as states attempt to combine economic growth with environmental sustainability [ 15 , 36 , 42 , 143 , 157 ].

A key feature of green finance study is how financial institutions, integrate green investment and financing teams. The green finance agenda requires understanding how bank’s structure and behave to encourage sustainable investment. Green financial instrument creation and effect are another study topic. Researchers have examined green finance products including green bonds and minibonds to determine their performance and impact on environmental and sustainability goals. This field helps design policies and strategies to optimize industrial structures and promote sustainable development.

Green finance research examines how it affects industrial structures. Studies have examined how green finance initiatives including loans and investments optimize and shift industrial sectors toward sustainability. These findings are crucial for governments and business stakeholders seeking financial incentives for eco-friendly operations [ 12 , 31 , 46 , 57 , 85 , 96 , 124 , 130 , 139 ].

Green finance market interactions with financial variables must also be assessed for sustainable financial development. Researchers examine the relationship between green financial indices and other financial indicators to better understand how green finance affects the financial landscape [ 27 , 32 , 48 , 68 , 137 ].

Green finance and investments have many unexplored areas, presenting research opportunities. The behavioral dimensions of green investment focus on the psychological drivers and biases that influence investment choices; subnational and local initiatives, which are frequently ignored despite their crucial role in ecological action; cross-country comparisons to provide a more holistic view of effective green finance practices; the role and impact of green finance in emerging economies; and innovative green financial instruments like blockchain. Examining these lesser-known aspects could improve our understanding of sustainability in the financial sector and offer insightful information to investors, financial institutions, and legislators that want to make a positive impact on a more sustainable and environmentally friendly future.

Green finance and innovation

The convergence of green finance and innovation is a crucial topic that addresses the pressing global concerns of environmental sustainability and financial stability. Much study has been done on green finance and innovation, yet various themes and gaps emerge, demonstrating its complexity.

Green financing policies and instruments promote innovation, especially in environmental technologies and renewable energy. Many studies have studied how green funding affects green innovation and if it promotes sustainable technology. They've studied green bonds, green banking, and green finance reform laws, offering empirical evidence that financial incentives combined with green practices can stimulate environmental innovation [ 16 , 41 , 44 , 47 , 52 , 64 , 70 , 81 , 87 , 107 , 133 , 152 , 162 ].

The role of environmental legislation in green financing and innovation is another common theme. Researchers have studied how these restrictions affect green finance's impact on technology. Studying how financial policies and regulatory frameworks interact has helped explain the complex dynamics affecting innovation in environmentally sensitive industries [ 11 , 29 , 54 , 84 , 120 , 126 , 132 , 151 , 152 , 174 ].

Nevertheless, there are obvious gaps in the existing knowledge within the field. The effects of green finance on innovation have been extensively studied, but a better knowledge of the factors driving innovation in other areas is needed. Further study may reveal how green funding might boost innovation in non-environmental industries. How can financial mechanisms support sustainable transportation, agricultural, and urban planning innovation.

Further research is needed on education and the human element in green innovation. How green finance, educational investments, and innovation interact can help individuals, businesses, and societies develop a sustainable future. Green finance and innovation's impact on environmental adaptation and resilience also understudied. More research is needed to determine how financial mechanisms and new solutions may help communities and organizations adapt to climate change.

Green finance policy/green credit guidelines

Climate change and environmental degradation are major worldwide issues. Green finance, which promotes environmentally and socially responsible investments, is a key instrument in this battle. Research and discussion have focused on how green finance policies affect the economy and environment.

The switch to renewable energy is crucial to fighting climate change globally. This transition relies on green financing initiatives. Researchers are investigating how well such regulations promote renewable energy. They examined how green finance regulations affect renewable energy output, investment, and job development in this growing sector. Understanding these implications helps improve green finance initiatives for sustainability [ 18 , 98 , 118 ].

China and other nations have implemented green finance pilot programs to test the waters and stimulate innovation. This research evaluates pilot policy implementation and impacts. Scholars use synthetic control and other tools to study how these initiatives affect green innovation. The results help determine the real-world implications of such experiments and their potential for wider use [ 48 , 113 , 121 , 131 , 146 , 162 ].

Green financing policies vary worldwide. Comparative research of green financing rules can highlight policy differences among jurisdictions. Researchers compared the EU and Russia's green financing laws. These studies emphasize differences, similarities, and the potential influence of these policies on green finance development, promoting cross-border cooperation and knowledge exchange [ 60 , 125 ].

Monitoring and measuring green finance progress is essential for future development. Researchers are developing green finance indices to assess green finance in a country or region. These indices help policymakers, investors, and the public understand green finance's growth and potential [ 141 ].

Despite significant and informative research on green finance policies and their effects on the economy and environment, several research gaps and opportunities for additional investigation remain. First, a thorough evaluation of the durability and long-term sustainability of green finance policies is lacking in the literature. Many studies focus on short-term outcomes, but long-term planning and implementation need understanding these policies' long-term implications. Second, green finance policies' cross-border effects need greater study. As the global economy grows more interconnected, it's important to understand how regional policies affect others and the possibility for international collaboration. Green finance and social effects as creating employment and community development are understudied. Such studies could illuminate these policies' overall impact. Finally, additional multidisciplinary research combining economics, environmental science, and social science are needed to comprehend green finance policies' complex implications. Scholars can fill these gaps to improve our understanding of this crucial topic and inform sustainable policymaking.

Green finance and economy

The relationship between carbon intensity and economic development is a growing topic in green finance research. How nations may shift to low-carbon economies while maintaining economic growth has been studied. Several studies have quantified how green finance policies reduce carbon emissions and boost economic growth [ 63 , 71 , 122 , 155 , 175 ].

The study of the impact of green financing on agriculture, particularly in China, is gaining attention. Green financing impacts agricultural trade, sustainability, and food security, according to researchers [ 37 , 140 ]. Given its connection with economics, food production, and sustainability, this type of researches is crucial.

Efficient utilization of natural resources in Asian countries has gained attention for promoting green economic growth. Researchers have studied how nations might maximize economic gains from natural resources while reducing environmental harm. Addressing sustainable economic development concerns requires this area [ 86 , 101 , 146 , 166 ].

The significance of judicial quality in reducing emissions without hindering economic growth is a common issue in green finance research. Researchers examine how strong legal systems can enforce environmental laws and promote green practices while boosting the economy [ 154 ].

Even while the previously stated research topics have unquestionably enhanced our understanding of the intricacies of green finance, there are still a number of uncharted territories and research gaps that need to be investigated further. Currently, research on green finance mostly focuses on economic and environmental concerns. Integrated research combining economic, environmental, and social science is needed. It can provide a holistic view of green finance policy' many implications. The globalization of green finance policy has significant implications and cross-border effects. These policies' worldwide spillover effects and country collaboration are rarely studied. Research is lacking on how regional policies affect others and international cooperation.

Green finance and corporate social responsibility

Fostering CSR requires understanding how environmental regulations affect companies' sustainable strategies. Researchers should examine how CSR goals can be better aligned with regulations to improve environmental and social outcomes. Researchers have studied green finance-CSR approaches to promote sustainability. This research seeks to understand how green finance initiatives like green bonds and sustainable investment practices affect CSR performance [ 173 ]. Businesses and investors looking to maximize their environmental and social impact must understand these mechanisms.

One intriguing research topic is empirical evidence from heavily polluting enterprises, especially in China. This study shows how green finance can reduce environmental harm and promote CSR in industries with a high environmental impact [ 45 , 66 ]. Researchers can find ways to help heavily polluting companies become more sustainable by studying their experiences.

Bangladesh banks' CSR and green finance practices have also been studied [ 168 ]. This study studies how green financing affects financial institution CSR and environmental performance. Financial organizations can use these results to incorporate environmental responsibility while being profitable. Another relevant research topic is post-pandemic CSR practices as a business strategy to combat volatility and drive energy and environmental transition [ 53 ]. Understanding how CSR and green finance can help companies whether economic downturns and pandemics are crucial. This research can help businesses adapt to changing business conditions.

Further studies can explore socially responsible mutual funds and low-carbon economies. The impact of the investment industry on sustainability and environmental responsibility can be better understood by scholars by examining how these funds affect company behavior and investment decisions. Investors and businesses pursuing sustainable development may find these insights to be beneficial.

Green bond issuance is growing, thus study on its effects on company performance and CSR is needed. Investors seeking to support environmentally responsible businesses and companies contemplating green finance must have a comprehensive understanding of the repercussions on associated with green financing.

Trends/challenges/barriers/awareness of green finance

Regional patterns in China's green finance trends are well-studied, but little is known about applying these findings elsewhere, especially in countries with similar environmental issues [ 24 , 30 , 83 , 88 ]. Analysis of green finance growth by sector is common; however, there may be a knowledge vacuum about how sectors might learn from each other to create more successful sectoral plans [ 28 , 50 , 142 ].

Analyzing the structural barriers to green financing is vital, but also understanding how consumers, financial institutions, and governments can work together to close this gap is crucial. Political and institutional restrictions in green financing have been extensively examined, but cross-national comparisons might reveal similar concerns and inventive solutions. Cultural variety is crucial in ethical and green finance, but the challenges of adapting cultural methods to different places may not be adequately examined [ 7 ].

There were 213 papers pertaining to green finance research that were published between the years 2011 and 2021. However, between 2022 and May 2023, there was an enormous increase in the number of publications, which was 715. These publications can be found in Scopus and WoS. This spike can be associated with a number of causes that have encouraged both academia and industry to focus on sustainable and environmentally friendly practices. These drivers can be found in both the public and private sectors.

To begin, there has been a growing awareness of the urgent need to address climate change and its adverse impacts on the world. An increasing number of demands for action have accompanied this recognition. Green finance provides a means by which funds can be directed toward projects and investments that promote environmental sustainability, such as the development of sustainable infrastructure, clean technologies, and renewable sources of energy. In addition, global initiatives such as the Paris Agreement have put pressure on governments and financial institutions to align their strategies with climate goals, which has led to an increased demand for research on green finance practices and regulations [ 58 ]. Additionally, investors and consumers are becoming more aware of the environmental impact of their financial actions, which is contributing to an increase in demand for environmentally responsible investing products and services [ 39 ]. As a direct consequence of these developing tendencies, researchers and academics have developed responses to them, adding to the expanding body of literature on green finance.

993, more than any other nation, are references to China. This shows a keen interest in learning about China's economy, politics, and development. Researchers have concentrated on China's position in finance, sustainability, and innovation given its status as the world's largest population country and its growing global relevance due to its critical role in fostering sustainable and low-carbon development. Reduced energy use and waste are the goals of energy efficiency measures, which also have a positive effect on the environment by reducing greenhouse gas emissions. Researchers want to comprehend the procedures, regulations, and financial tools that can successfully encourage and support energy efficiency projects, which will ultimately contribute to a greener and more sustainable future. This is why they are focused on energy efficiency within the context of green finance [ 2 , 14 , 60 , 67 , 69 , 74 , 106 , 117 , 134 , 136 , 156 , 160 , 170 ].

The construction of pilot zones for green finance reform and innovations (GFRI) is a significant step the Chinese government has taken to build a green economy. Many authors have conducted surveys on China's GFRI policy and its impact on innovations. The GFRI policy program supports green innovation in large, polluting companies and urban green development by enhancing total factor productivity in pilot cities, emphasizing the importance of debt finance in corporate green innovation [ 40 , 82 , 148 , 150 , 153 , 158 ]. A different study by Wang et al. in 2022 [ 127 ] discovered that while the GFRP generally plays a positive role in fostering green technology innovation capabilities, the extent to which it has an impact varies depending on the region's resources, environment, and level of economic development, with middle- and high-income areas seeing a more noticeable impact. Wang et al. in 2022 [ 127 ] propose a green finance index, employing statistical indicators from 2011 to 2019, to analyze China's green finance development and predict its growth from 2020 to 2024. New energy, green mobility, and new energy vehicles have boosted China's green finance index during the previous nine years, according to research.

The Green Financial Reform and Innovation Pilot Zones (GFPZ) policy's effect on the ESG ratings of Chinese A-share listed firms between 2014 and 2020 is examined in another study. The findings showed that the GFPZ policy raises ESG scores, which are mainly based on social responsibility, and helps businesses in the pilot zones do better financially and environmentally [ 17 ]. In 2023, Shao and Huang [ 111 ] reviewed China's green finance policy mix, showing a shift toward market-based approaches and greater private sector engagement, influenced by dynamic vertical interactions between different levels of government.

Chen et al. [ 14 ] examined the response of China's equity funds to institutional pressure on green finance in 2021. The results showed that funds with negative screening strategies, which exclude environmentally harmful investments, have higher green investment levels and higher financial returns, while funds with positive screening strategies face negative investor reactions despite their green investments.

A study done by Lv et al. [ 88 ] found that while green finance development in China is improving, regional disparities and a polarization trend exist, requiring measures to narrow the gap and promote coordinated development across economic regions. Because it is crucial for striking a balance between economic development, environmental conservation, and social well-being, researchers in green finance concentrate on sustainability. The authors focused on studies on sustainable investment options, analyzed how environmental, social, and governance aspects are incorporated into financial decision-making, and evaluated how sustainability affects financial performance. Researchers are expected to advance ethical and sustainable financial practices and help the world accomplish its sustainability goals by studying sustainability within the context of green finance [ 5 , 25 , 43 , 46 , 59 , 73 , 77 , 90 , 91 , 94 , 104 , 109 , 138 , 161 , 163 , 165 , 167 , 171 ].

In conclusion, research on green finance has primarily focused on Asian countries, particularly China, where it plays a crucial role in low-carbon development and renewable energy growth. However, there is a significant knowledge gap in regions outside Asia, such as Africa, South America, and parts of Europe. Further research is needed to understand regional variances and strategies in these areas.

Studies have examined various aspects of green finance, including green bond quality, the relationship between green and non-green investments, and the impact of green finance on environmental and sustainability goals. Behavioral dimensions of green investment, subnational and local initiatives, cross-country comparisons, and the role of green finance in emerging economies have also been explored. Additionally, the role of green finance in stimulating innovation in environmental technologies and renewable energy has been studied, but there are gaps in understanding its impact on non-environmental industries and the human element in green innovation.

Further research is needed to understand the role of environmental legislation in green finance, its impact on technology, and its cross-border effects. The durability and long-term sustainability of green finance policies should also be examined, along with their social effects such as employment creation and community development. The relationship between carbon intensity and economic development, as well as the alignment of corporate social responsibility goals with environmental regulations, are important areas for investigation.

There is a need for more research on applying the findings from China's green finance trends to other countries facing similar environmental issues. Structural barriers to green financing should be analyzed, and the collaboration between consumers, financial institutions, and governments in closing this gap should be explored. Cultural diversity in ethical and green finance should also be considered, along with the challenges of adapting cultural methods to different places. Overall, further research in these areas can contribute to a more sustainable and environmentally friendly future.

When compared to other fields of study, it is clear that research on green finance has not been investigated to the same extent. In contrast to the less-researched areas of carbon, carbon emissions, climate change, financial systems, policymaking, agriculture, CSR, supply chain, risk management, corporate strategy, regional planning, and governance, green financing has been well-liked with investments, sustainable developments, green innovations, and green economies. On the other hand, taking into account the growing attention paid to sustainability on a worldwide scale and the pressing need to find solutions to the problems posed by the environment, it is quite likely that research into green finance will become more important in the years to come.

The increasing significance of sustainable development and the change to an economy with lower carbon emissions will require the development of innovative financial solutions to support green initiatives and assist the shift toward a financial system that is more friendly to the environment and more sustainable. It is anticipated that researchers will devote a greater amount of attention to green finance as the level of awareness regarding the environmental and social impacts of financial activities continues to rise. These researchers will investigate topics such as sustainable investment strategies, green bond markets, sustainable banking practices, and the incorporation of environmental considerations into financial decision-making. In addition to this, the incorporation of environmentally friendly financial practices into policy frameworks and regulatory measures further emphasizes the requirement for research in this particular area. In general, it is projected that research on green finance will pick up steam in the years to come because it plays such an important role in the process of sculpting a financially sustainable and resilient.

Availability of data and materials

SCOPUS and WoS databases.

Abbreviations

Corporate social responsibility

Financial Technology

Green finance reform and innovations

Green Financial Reform and Innovation Pilot Zones

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134 Economics Thesis Topics: Ideas for Outstanding Writing

Writing a thesis is not an easy task. For most of the students, it can be even intimidating, especially when you do not know where to start your research.

Here, we have provided an economics thesis topics list. After all, everyone knows that choosing the right idea is crucial when writing an academic paper. In economics, it can combine history, math, social studies, politics, and numerous other subjects. You should also have solid foundations and a sound factual basis for a thesis. Without these elements, you won’t be able to master your research paper.

The issue is:

It is not always clear what could be seen as an excellent economics thesis topic. Our experts can assist you with this challenge. This list contains some outstanding examples to get you started.

• ⭐ Thesis in Economics
• 🔥 Supreme Thesis Topics
• 👍 Bachelor’s Thesis
• 😲 Master’s Thesis

📊 Microeconomics

📈 macroeconomics.

• 🤔 Developmental
• 👨‍💼 Behavioral
• 💼 Financial
• 🌱 Agricultural
• 🤝‍ Sociology
• 📚 Ph.D. Topics
• 📝 How to Pick a Topic

⭐ What Does a Thesis in Economics Look Like?

A good thesis in economics is a blend between an empirical paper and a theoretical one. One of the essential steps in choosing a topic in economics is to decide which one you will write.

You may write, research, analyze statistical data and other information. Or build and study a specific economic model.

Or why not both!

Here are some questions you can ask when deciding what topic to choose:

• What has already been written on this topic?
• What economic variables will my paper study?
• Where should I look for the data?
• What econometrics techniques should I use?
• What type of model will I study?

The best way to understand what type of research you have to do is to write a thesis proposal. You will most probably be required to submit it anyway. Your thesis supervisor will examine your ideas, methods, list of secondary and primary sources. At some universities, the proposal will be graded.

After you get the initial feedback, you will have a clear idea of what to adjust before writing your thesis. Only then, you’ll be able to start.

🔥 Supreme Economics Thesis Topics List

• Fast fashion in India.
• The UK housing prices.
• Brexit and European trade.
• Behavioral economics.
• Healthcare macroeconomics.
• COVID-19’s economic impact.
• Global gender wage gap.
• Commodity dependence in Africa.
• International trade – developing countries.
• Climate change and business development.

👍 Economics Bachelor’s Thesis Topics

At the U.S. Universities, an undergraduate thesis is very uncommon. However, it depends on the Department Policy.

The biggest challenge with the Bachelor’s Thesis in economics concerns its originality. Even though you are not required to conduct entirely unique research, you have to lack redundant ideas.

You can easily avoid making this mistake by simply choosing one of these topics. Also, consider visiting IvyPanda essays database. It’s a perfect palce to conduct a brainstorming session and come up with fresh ideas for a paper, as well as get tons of inspiration.

• The impact of the oil industry on the economic development of Nigeria. The oil industry is vital for the economic development of Nigeria. In this thesis, students can discuss the notion of the resource curse. Analyze the reasons why general people are not benefiting from the oil industry. Why did it produce very little change in the social and economic growth of the country?
• Sports Marketing and Advertising: the impact it has on the consumers.
• Economic opportunities and challenges of investing in Kenya .
• Economic Development in the Tourism Industry in Africa. Since the early 1990s, tourism significantly contributed to the economic growth of African countries. In this thesis, students can talk about the characteristics of the tourist sector in Africa. Or elaborate on specific countries and how their national development plans look like.
• Globalization and its significance to business worldwide .
• Economic risks connected to investing in Turkey .
• The decline in employment rates as the biggest American economy challenge .
• The economics of alcohol abuse problems. In this thesis, students can develop several essential issues. First, they can examine how poverty is connected to alcohol abuse. Second, they can see the link between alcohol consumption and productivity. To sum up, students can elaborate on the economic costs of alcohol abuse.
• Causes and solutions for unemployment in Great Britain.
• Parallel perspective on Global Economic Order: China and America. This thesis can bring a comparative analysis of the economies to a new level. China and The US are the world’s two largest economies. These two countries have a significant impact on the global economic order. So, looking at the set of institutions, policies, rules can be constructive.
• The new international economic order after COVID-19
• Financial stability of the banking sector in China.
• New Electronic Payment Services in Russia.
• The influence of culture on different entrepreneurial behaviors.
• The impact of natural cultural practices on entrepreneurial activity.
• The relationships between national culture and individual behavior.
• The main reasons for salary inequalities in different parts of the U.S.

😲 Economics Master’s Thesis Topics

Student life can be fascinating, but it comes with its challenges. One of which is selecting your Master’s thesis topic.

Here is a list of topics for a Master’s thesis in economics. Are you pursuing MPhil in Economics and writing a thesis? Use the following ideas as an inspiration for that. They can also be helpful if you are working on a Master’s thesis in financial economics.

• The impact of visual aid in teaching home economics.
• The effect of income changes in consumer behaviors in America.
• Forces behind socio-economic inequalities in the United States. This thesis can explore three critical factors for socio-economic differences in the United States. In the past 30 years, social disparities increased in the United States. Some of the main reasons are technology, trade, and institutions.
• The relationships between economic growth and international development.
• Technological innovations and their influence on green and environmental products.
• The economics of non-solar renewable energy .

• The economic consequences of terrorism . Terrorism not only takes away lives and destroys property but also widely affects the economy. It creates uncertainty in the market, increases insurance claims, slows down investment projects, and tourism. This thesis can address all of the ways in which terrorism can affect economies.
• Corporate Social Responsibility (CSR) implementation in the Oil and Gas Industry in Africa.
• Use of incentives in behavioral economics.
• Economic opportunities and challenges of sustainable communities .
• Economics of nuclear power plants.
• Aid and financial help for emerging markets. This topic is very versatile. Students can look at both the positive and the adverse effects that funding has on the development. There are plenty of excellent examples. Besides, some theories call international help a form of neocolonialism.
• Multinational firms impact on economic growth in America .
• The effect of natural disasters on economic development in Asia.
• The influence of globalization on emerging markets and economic development.

📑 More Economics Thesis Topics: Theme

For some students, it makes more sense to center their search around a certain subject. Sometimes you have an econ area that interests you. You may have an idea about what you want to write, but you did not decide what it will be.

If that’s the case with you, then these economics thesis topics ideas are for you.

• An analysis of the energy market in Russia.
• The impact of game theory on economic development.
• The connection between minimum wage and market equilibrium.
• Gender differences in the labor market in the United States. This topic can shed light on gender differences in the labor market in the United States. In the past years, the overall inequality in labor in the markets decreased. However, there is still a lot of work that can be done.
• Economic reasons that influence the prices of oil .
• Relationship between the Lorenz curve and the Gini coefficient.
• Challenges of small businesses in the market economy.
• The changes in oil prices: causes and solutions . Universal economic principles do not always apply to the sale and purchase of the oil. The same happens with its cost. In the thesis, talk about what affects the prices. What are the solutions that can be implemented?
• The economic analysis of the impact of immigration on the American economy.

• Economic inequality as a result of globalization . Economic inequality becomes even more apparent on the global level. There is a common belief that globalization is the cause of that. Discuss what can be the solutions to these problems. This topic is vital to minimize the gap between the rich and the poor.
• The economic explanation of political dishonesty .
• Effect of Increasing Interest rates costs in Africa .
• The connection between game theory and microeconomics.
• Marketing uses in microeconomics.
• Financial liability in human-made environmental disasters.
• Banks and their role in the economy. Banks are crucial elements of any economy, and this topic covers why. You can explain how banks allow the goods and services to be exchanged. Talk about why banks are so essential for economic growth and stability.
• Inflation in the US and ways to reduce its impact.
• The connection between politics and economics.
• Income Dynamics and demographic economics.
• US Market Liquidity and macroeconomics.
• Macroeconomics and self-correction of the economy .
• The American economy, monetary policy, and monopolies .
• The importance of control in macroeconomics. One of the central topics in macroeconomics is grouped around the issue of control. It is quite reasonable that control over money and resources should become a topic of discussion.
• Analysis of Africa’s macroeconomics and its performance.
• Economics of education in developing markets.
• Problems and possible solutions for Japan macroeconomics .
• Comparative analysis of British macroeconomics concerning the US .
• Public policies and socio-economic disparities.
• The world problems through macroeconomic analysis. Indeed, macroeconomics is very complicated. There are many influences, details, and intricacies in it. However, it allows economists to use this complex set of tools to examine the world’s leading problems today.

• The connection between employment interest and money.

🤔 Development Economics

• Economics of development . This topic is very rich in content. First, explain what it is. Then pay particular attention to domestic and international policies that affect development, income distribution, and economic growth.
• The relation between development and incentive for migration.
• The impact of natural disasters on the economy and political stability of emerging markets.
• The economic consequences of population growth in developing countries.
• The role of industrialization in developing countries . The industrialization has been connected with the development. It promotes capital formation and catalyzes economic growth in emerging markets. In this thesis, you can talk about this correlation.
• Latin American economic development.
• Gender inequality and socio-economic development .
• Problems of tax and taxation in connection with economic growth.
• The economic impact of terrorism on developing markets.
• Religious decline as a key to economic development. Not everyone knows, but a lot of research has been done in the past years on the topic. It argues that decreased religious activity is connected with increased economic growth. This topic is quite controversial. Students who decide to write about it should be extra careful and polite.

👨‍💼 Behavioral Economics

• Risk Preferences in Rural South Africa.
• Behavioral Economics and Finance .
• Applied behavioral economics in marketing strategies. If you want to focus your attention on marketing, this topic is for you. Behavioral economics provides a peculiar lens to look at marketing strategies. It allows marketers to identify common behaviors and adapt their marketing strategies.
• The impact of behavioral finance on investment decisions.
• Behavioral Economics in Child Nutrition Programs in North Texas.
• Guidelines for Behavioral Economics in Healthcare Sector.
• Cognitive and behavioral theories in economics .
• Cross-cultural consumer behavior and marketing communication. Consumers are not only affected by personal characteristics, but also by the culture they are living in. This topic focuses on the extent it should determine marketing strategy and communication.
• Behavior implications of wealth and inequality.

• Optimism and pessimism for future behavior.

💼 Financial Economics

• Financial Economics for Infrastructure and Fiscal Policy .
• The use of the economic concept of human capital. Students can focus on the dichotomy between human and nonhuman capital. Many economists believe that human capital is the most crucial of all. Some approach this issue differently. Therefore, students should do their research and find where they stand on this issue.
• The analysis of the global financial crisis of 2020s. Share your thoughts, predictions, ideas. Analyze the economic situation that affects almost everyone in the world. This thesis topic will be fresh and original. It can help to start a good and fruitful conversation.
• The big data economic challenges for Volvo car.
• The connection between finance, economics, and accounting.
• Financial economics: Banks competition in the UK .
• Risk-Taking by mutual funds as a response to incentives.
• Managerial economics and financial accounting as a basis for business decisions.
• Stock market overreaction.

🌱 Agricultural Economics

• Agricultural economics and agribusiness.
• The vulnerability of agricultural business in African countries.
• Agricultural economics and environmental considerations of biofuels .
• Farmer’s contribution to agricultural social capital.
• Agricultural and resource economics. Agricultural and resource economics plays a huge role in development. They are subdivided into four main characteristics which in this topic, students can talk about: – mineral and energy resources; – soil resources, water resources; – biological resources. One or even all of them can be a focus of the thesis.
• Water as an economic good in irrigated agriculture.
• Agriculture in the economic development of Iran.
• The US Agricultural Food Policy and Production .
• Pesticides usage on agricultural products in California.

• An analysis of economic efficiency in agriculture. A lot of research has been done on the question of economic efficiency in agriculture. However, it does not mean there is no place for your study. You have to read a lot of secondary sources to see where your arguments can fit.

🤝‍Economic Sociology

• Theory, approach, and method in economics sociology.
• Economic sociology of capitalism. While economists believe in the positive effect capitalism has on the economy, the social effect is quite different. The “economic” part of the issue has been studied a lot. However, the sociology of it has been not. This thesis can be very intriguing to read.
• Political Economy and Economic Sociology.
• Gender and economic sociology .
• Progress, sociology, and economics.
• Data analysis in economics, sociology, environment .
• Economic sociology as a way to understand the human mind.
• Economic sociology of money.
• Economics, sociology, and psychology of security.
• Major principles of economic sociology. In the past decade, economic sociology became an increasingly popular field. Mainly due to it giving a new view on economics, human mind, and behavior. Besides, it explores relationships between politics, law, culture, and gender.

📚 The List of Ph.D. Topics in Economics

If you decide to go to grad school to do your Masters, you will likely end up getting a Ph.D. as well. So, with this plan in mind, think about a field that interests you enough during your Masters. Working with the same topic for both graduate degrees is easier and more effective.

This list of Ph.D. Topics in Economics can help you identify the areas you can work on.

• Occupational injuries in Pakistan and its effect on the economy. Injuries are the leading cause of the global burden of disability. Globally, Pakistan was ranked 9th populated country with a large number of unskilled workers. In this dissertation, consider the link between occupational injuries and their effects on the economy.
• The study of the Philippines’ economic development.

• Financial derivatives and climate change .
• Econometric Analysis of Financial Markets.
• Islamic Banking and Financial Markets .
• Health economics and policy in the UK.
• Health insurance: rationale and economic justification. In this dissertation, students can find different ways to explain and justify health insurance. Starting to philosophical to purely economic grounds. In the past years, there was a lot of discussion regarding the healthcare system for all. What are some of the economic benefits of that?
• Colombian economy, economic growth, and inequality.
• Benefits of mergers and acquisitions in agribusiness.
• Methods to measure financial risks when investing in Africa.
• The significance of financial economics in understanding the relationship between a country’s GDP and NDP.
• Network effects in cryptocurrency. Cryptocurrencies are not new anymore. However, it is still an original subject for a dissertation. Students can decide to choose several crypto coins and evaluate the importance of the network effect. This effect is particularly significant for Bitcoin. Explain why.
• The comparison of the Chinese growth model with the American growth model.
• An economic justification versus political expediency.
• Pollution Externalities Role in Management Economics .

📝 How to Select an Economics Thesis Topic

As your academic journey is coming to an end, it’s time to pick the right topic for your thesis. The whole academic life you were preparing to undertake this challenge.

Here is the list of six points that will help you to select an economics thesis topic:

• Make sure it is something you are genuinely interested in. It is incredibly challenging to write something engaging if you are not interested in the topic. So, choose wisely and chose what excites you.
• Draw inspiration from the previous student’s projects. A great place to start is by looking at what the previous students wrote. You can find some fresh ideas and a general direction.
• Ask your thesis advisor for his feedback. Most probably, your thesis advisor supervised many students before. They can be a great help too because they know how to assess papers. Before meeting with your professor, do some basic research, and understand what topic is about.
• Be original, but not too much. You do not want to spend your time writing about a project that many people wrote about. Your readers will not be interested in reading it, but your professors as well. However, make sure you do not pick anything too obscure. It will leave you with no secondary sources.
• Choose a narrow and specific topic. Not only will it allow you to be more original, but also to master a topic. When the issue is too broad, there is just too much information to cover in one thesis.
• Go interdisciplinary. If you find yourself interested in history, philosophy, or any other related topic, it can help you write an exceptional thesis in economics. Most of your peers may work on pure economics. Then, the interdisciplinary approach can help you to stand out among them.

Thank you for reading the article to the end! We hope this list of economics thesis topics ideas could help you to gather your thoughts and get inspired. Share it with those who may find it useful. Let us know what you think about it in the comment section below.

🔗 References

• Economics Thesis Topics List: Seminars Only
• How To Pick A Topic For Your Economics Research Project Or Master’s Thesis: INOMICS, The Site for Economists
• What Do Theses and Dissertations Look Like: KU Writing Center, the University of Kansas
• Writing Economics: Robert Neugeboren with Mireille Jacobson, University of Harvard
• Economics Ph.D. Theses: Department of Economics, University of Sussex Business School, IDEAS_RePEc
• World Economic Situation and Prospects 2018: United Nations
• Undergraduate Honors Theses: Department of Economics, University of California, Berkeley
• Economics Department Dissertations Collection: Economics Department, University of Massachusetts Amherst
• Topics for Master Theses: Department of Economics, NHH, Norwegian School of Economics
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The dilemma I faced in getting Thesis proposal for my M Phil programme is taken away. Your article would be a useful guide to many more students.Thank you for your guidance.

Thanks for the feedback, John! Your opinion is very important for us!

I wants it for msc thesis

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The mythical tie between immigration and crime

Opponents of immigration often argue that immigrants drive up crime rates. But newly released research from Stanford economist Ran Abramitzky and his co-authors finds that hasn’t been the case in America for the last 140 years.

The study reveals that first-generation immigrants have not been more likely to be imprisoned than people born in the United States since 1880.

Today, immigrants are 30 percent less likely to be incarcerated than are U.S.-born individuals who are white, the study finds. And when the analysis is expanded to include Black Americans — whose prison rates are higher than the general population — the likelihood of an immigrant being incarcerated is 60 percent lower than of people born in the United States. 

While other research has also debunked claims that immigration leads to more crime, this study of incarceration rates provides the broadest historical look at the relationship between immigration and crime across the country and over time, says author Abramitzky. Abramitzky is the Stanford Federal Credit Union Professor of Economics and senior associate dean of social sciences in the School of Humanities and Sciences, as well as a senior fellow at the Stanford Institute for Economic Policy Research ( SIEPR ) .

The study is detailed in a working paper released by the National Bureau of Economic Research. Using U.S. Census Bureau data, it focuses on immigrants present in the Census regardless of their legal status and on men between the ages of 18 and 40.

“From Henry Cabot Lodge in the late 19th century to Donald Trump, anti-immigration politicians have repeatedly tried to link immigrants to crime, but our research confirms that this is a myth and not based on fact,” says Abramitzky, whose 2022 book, Streets of Gold: America’s Untold Story of Immigrant Success , examines the many misconceptions around immigration.

In their analysis of Census data from 1850 to 2020, Abramitzky and his co-authors find that, compared to U.S.-born individuals, immigrants as a group had higher incarceration rates before 1870 and similar rates between 1880 and 1950. Since 1960, however, immigrants have been less likely to be incarcerated than have the U.S.-born.

According to the study, this is the case for almost every region in the world that is a major source of immigrants to the United States. As of 2019, immigrants from China and eastern and southern Europe were committing the fewest number of crimes — as measured by incarceration rates — relative to U.S.-born individuals. 

The exception is Mexican and Central American immigrants, but the higher incarceration rates for this group since 2005 is largely attributed to the fact that the Census data combines incarceration for criminal acts with detentions for immigration-related offenses, the researchers say in the paper. Incarceration rates among Mexican and Central American immigrants were similar to those of U.S.-born individuals between 1980 and 2005. 

What’s more, comparing the imprisonment of Mexican and Central American immigrants to that of white males born in the United States based on education tells a different story, according to Abramitzky. Men without a high school degree are the group most likely to be incarcerated for criminal activity. “But Mexican and Central American immigrants with low levels of education, which comprise a large share of immigrants from this region, are significantly less likely to be incarcerated than U.S.-born men with similarly low levels of education,” he says.

Abramitzky’s co-authors include Leah Platt Boustan, an economics professor at Princeton and co-author of Streets of Gold ; Elisa Jácome, an assistant professor of economics at Northwestern and a former SIEPR postdoctoral fellow; Santiago Pérez, an associate professor of economics at the University of California, Davis; and Juan David Torres, a Stanford PhD student in economics and former predoctoral fellow at SIEPR .

Immigrants vs. U.S.-born: Different economic forces

In setting out to compare criminality over time, the researchers took on a big challenge: Finding credible evidence of a connection between immigration and crime — and over a long time period — is extremely difficult. Other studies have relied on arrests records, but those do not include immigration status or birthplace. They also include arrests for minor infractions, which can reflect police bias more than actual crimes.

Instead, Abramitzky and his collaborators chose to analyze incarceration rates, which they say are better indicators of serious crime because they often require a conviction. As their primary data source, they turned to decennial censuses and surveys from the U.S. Census Bureau, which include information on individuals in correctional facilities and their birthplace — thereby allowing the researchers to build what they say is the first nationally representative dataset of incarceration rates for immigrants and the U.S.-born going back 170 years.

The researchers say it’s not entirely clear why the data show that immigrants have been imprisoned at increasingly lower rates than U.S.-born males since 1960. 

“Many of the explanations we had in mind turned out to NOT be right when we looked at the data,” Abramitzky says. For example, examining differences in age, marital status, or education levels among immigrants didn’t provide a clue. Nor did changes in immigration policy or the states in which immigrants settled. 

It is also unlikely, he says, that deportations contributed to the relatively lower rates of immigrant incarcerations.

The researchers conclude the likely explanation is that first-generation immigrants are faring better overall (and not just with respect to incarceration rates) than are U.S.-born men — especially compared to those without a high school diploma.

Globalization and advances in technology have hit white males hard, especially those who were born in the United States and who didn’t finish high school. Compared to immigrants, they are much more likely to be unemployed, unmarried, and in poor health — and perhaps more prone to commit crimes as a result, Abramitzky says.

The manual jobs that immigrants typically take on have been stable by comparison. Other studies have shown that immigrants also are, among other characteristics, highly adaptable and resilient.

“Recent waves of immigrants are more likely to be employed, married with children, and in good health,” Abramitzky says. “Far from the rapists and drug dealers that anti-immigrant politicians claim them to be, immigrants today are doing relatively well and have largely been shielded from the social and economic forces that have negatively affected low-educated U.S.-born men.”

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New Research: Did Colombia’s Nationwide Preschool Expansion Benefit Students?

Which strategies work to improve the quality of public preschools? In new research published in the Journal of Political Economy , Yale Economist Orazio Attanasio and coauthors partnered with the Colombian government to evaluate a nationwide expansion of its preschool program. In collaboration with a private foundation, they also evaluated the impact of slightly modifying the government intervention. Prior to this research, few studies have addressed which aspects of preschool programs are most important for child development or whether specific improvements to existing programs effective.

Their paper directly addresses key education policy issues: Does providing schools with additional resources necessarily improve education quality? Do teacher professional development programs work? They find, strikingly, that a costly national government program that provided resources to hire teaching assistants (TAs) had no impact on child development. However, also including—at little extra cost—a professional development training program for existing preschool teachers resulted in significant positive overall impacts on children’s cognitive development. They show that, even within the same institutional setting, different approaches to improving the quality of early-years education can have very different effects on child development.

The article and interview with Professor Attanasio below dive into the research process, the key results, and the implications for local and international education policy.

Effective early childhood education interventions are key to break the intergenerational transmission of poverty and this case is particularly interesting because it's a policy that, if found effective, could be implemented at scale. — Orazio Attanasio,  Cowles Professor of Economics

Results at a Glance

• The TA program alone had no positive impacts on child development, despite high compliance and the fact that it represented a large increase in government investment in preschools.
• The authors found that teachers responded to the program by reducing their overall involvement in classroom activities, delegating much to (often untrained) TAs, thus inhibiting child development.
• However, moderate extra training of the existing teachers did have significant positive impacts on child development.
• This training program prompted teachers to delegate only specific activities to TAs, and to focus more on improving teaching quality and spending more time on learning activities.
• Overall, additional school resources can be effective when accompanied by guidance on how to utilize them. Without guidance, such provision might generate unintended consequences.

Study Background

Early childhood education (ECE) plays a critical role in child development: evaluations of well-designed ECE programs have often shown substantial and long-lasting positive effects on children. Yet, there is limited evidence on the effect of these programs in lower- and middle-income countries, where services are of widely variable quality, with many children receiving poor-quality center-based care. As global momentum around investing in early education builds, and preschool enrollment rates continue to rise, many questions remain around how governments should allocate resources to ECE, and how they can improve overall education quality.

In a new study recently published in Journal of Political Economy —“ Preschool Quality and Child Development ”—researchers evaluated two strategies to improve the quality of public preschools in Colombia. The first, designed by the government and planned to be rolled out nationwide, provided extra funding earmarked mostly for hiring teaching assistants (TAs). The second complemented the first by additionally providing low-cost professional development training for existing teachers. The authors used a randomized evaluation to estimate the impacts of these two interventions in improving children’s cognitive development, especially for more disadvantaged children. Throughout the study, they collected rich measures of child development, the classroom environment, and teaching practices.

Journal Publication

Preschool Quality and Child Development Authors: Alison Andrew, Orazio P. Attanasio, Raquel Bernal, Lina Cardona Sosa, Sonya Krutikova, & Marta Rubio-Codina

Study Context

The study took place in the eight largest cities in Colombia: Bogotá, Cali, Medellín, Barranquilla, Bello, Palmira, Itagüí, and Soledad, where the national government implemented large scale ECE development projects. This preschool program is one the oldest public center-based childcare providers in Colombia, and the centers have enrolled an average of 125,000 children per year over the past decade. The study population included partially subsidized government preschools for children between the ages of 18 months and 5 years from low–socioeconomic status families. To evaluate the government’s expansion of the program, the authors worked with the government to embed a randomized control trial (RCT) within the program rollout and study the outcomes. This design enabled them to evaluate rigorously the impact of the Colombian government’s approach to quality improvement as it was, in practice, implemented nationwide.

To analyze the effects of the programs on child development, the authors first gathered baseline data using eight different assessments given to the preschoolers. After the study period, they compared these data with a new set of child development tests. The authors also collected detailed measures of classroom activities in order to assess whether and how the interventions changed the routines and quality of instruction among the teachers and TAs, and measured the quality of teaching activities through direct observation of the teachers.

Key Results and Implications

The authors found that the first intervention had no effect on child development. Surveys revealed that teachers relied on TAs to substitute their work, which led teachers to reduce their classroom time, including care and learning activities. However, the additional training improved teaching quality and efficient use of TAs in the classroom. This led to improved cognitive development, especially for more disadvantaged children. The authors noted that the additional professional development gave teachers the skills needed to delegate tasks to TAs appropriately, and the result was greater involvement in learning activities and improved quality of teaching.

These findings suggest that provision of additional human resources can trigger changes in teachers’ time use that may counteract the positive impact of the new resources. In contexts where teachers are poorly trained, additional school resources should be accompanied by guidance on how to utilize them. Without guidance, such provision might generate unintended consequences, like the reduction in effort that was seen among teachers in the first program. On the other hand, training can lead to improvements in the efficiency of how teachers utilize their and the TAs’ time, delivering improvements in child development.

These results offer encouraging evidence on the potential of teacher training programs to change teaching practices in ways that translate into improvements in children’s outcomes. Overall, the study provides evidence on a concrete, scalable way in which the government could improve education programs to deliver significantly better outcomes for children at little extra cost. This study has significant relevance beyond Colombia, as governments in developing countries face the challenge of how to reimagine existing ECE services with the goal of improving child development.

Interview with Professor Orazio Attanasio

What is your motivation behind studying ece in this context, what was it like working with the colombian government and rolling out a large-scale rct.

Collaborating and working with government may be difficult, in particular when performing rigorous evaluations. The overall agenda and policy timelines may be difficult. In this case, we built on many years of collaboration with ICBF, the government agency that runs most early years programs in Colombia and that is very well organized. The collaboration and intermediation of the Fundacion Exito was also very important—in addition to the fact that they funded a big part of the evaluation.

What suggestions for development policy emerge from your work? How do you see these findings apply to governments beyond Colombia?

At a high level the main message is that quality in early years interventions matter. And quality is not always easy to achieve. Our work showed explicitly the changes induced by different interventions on teachers’ behavior that led to the impacts we saw. On the positive side, we showed that a small additional cost can trigger important impacts on the basis of the substantive resources invested. The big challenge is to do this at scale. It is possible, but it is not easy.

We have shared our results with policymakers, and while the changes are not immediate, we think that our results are slowly changing the way things are done in this context.

What are some exciting areas for further research on this topic?

Many of the interventions for the early years seem to be successful when changing the behavior of key agents, such as parents and teachers. An important and I think exciting area of research is to understand what are the drivers of these agents’ behavior. Is it misperceptions and beliefs? Or social norms? Or simply resources. Studying how subjective beliefs change is a very exciting are of research.

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Perspectives: Quarterly economic and market outlook

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Investment outlook remains constructive, but political risks are rising

The global economic outlook is improving. The headwind to growth posed by central banks is declining and broad financial conditions seem reasonably balanced. Early signs of recovery discussed in the last edition of Perspectives are progressing and the number of countries reporting a gradual strengthening in growth has increased. This doesn’t include the U.S. Here, though, evidence is consistent with a benign slowing, and growth appears to be decelerating from an unsustainably fast pace to a rate more consistent with the U.S. economy’s long-term trend. The global growth recovery will likely not prevent a further deceleration in inflation. In particular, recent data from the U.S. service sector have softened. If maintained, this trend will likely facilitate the start of policy easing by the U.S. Federal Reserve (Fed), while many other central banks are also expected to loosen policy further in the next 12 months.

Our constructive outlook for the macroeconomy also merits continued cautious optimism for asset markets. We think that equities — particularly those markets with the strongest fundamentals and most attractive valuations — and fixed income can both do reasonably well over the next 12 months. In combination, they’re expected to deliver relatively attractive returns for investors in traditional balanced portfolios.

Assessing the size and source of potential risks to this relatively constructive outlook is, as always, top of mind. Currently, political risks appear to pose a more important challenge to markets and investor sentiment than either economic data or prospective central bank policy rate decisions. Volatility related to idiosyncratic political events has already risen in a number of markets, including in Europe and Latin America. Arguably, the most significant political risks still lie ahead, with U.S. elections in November increasingly relevant to market price action. This event is often associated with positive equity returns and higher market volatility. The starting valuation of U.S. equity markets this time around makes an outsized gain much harder to realize. By contrast, generalized market volatility remains low and is likely to rise as we approach this event, particularly given the current polarized state of U.S. politics. 

At CIBC Asset Management, we’re committed to providing market insights and investment research. We hope our quarterly market and economic outlook are helpful as you find the right investment strategies that align with your portfolio goals. If you have questions or would like to discuss our insights and commentary, contact your advisor or CIBC representative anytime. 

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Long COVID has cost the Australian economy billions in lost work hours, new research says

By Ahmed Yussuf

Topic: COVID-19

The study found that in September 2022, about 1.3 million Australians were living with long COVID. ( Credit: Pixabay )

A new study has found about $9.6 billion was lost in economic productivity due to long COVID in 2022.

Researchers say that represented about a quarter of Australia's real gross domestic product growth for that year.

What's next?

Some experts are calling on state and federal governments, as well as policymakers, to put greater focus on long COVID.

Long COVID cost the Australian economy almost $10 billion in lost labour hours in 2022, according to new research. 

The study, published in the peer-reviewed Medical Journal of Australia, has calculated the number of hours Australians could not work or were forced to reduce their hours as a result of ongoing COVID-19 symptoms 12 months after their diagnosis.

The research explored the number of COVID-19 infections between January 2022 to December 2023. 

It found during September 2022 about 1.3 million Australians were living with long COVID and of that number about 55,000 were children aged four and under.

How many hours were lost due to long COVID?

Researchers explored population serosurvey data from more than 5,000 working adults, and developed a mathematical model to calculate the number of ongoing COVID-19 symptoms.

The study looked at adults who had symptoms between three to 12 months, as well as those who never recovered from their illness and had symptoms for more than a year.

Australian National University professor Quentin Grafton, who worked on the study and specialises in economics, said there were about 100 million hours lost in terms of labour.

Workers aged 30 to 49 contributed more than 50 per cent of the total labour lost.

"That has an impact not only for those people who have long COVID but on those people who look after them, care for them and their family and friends. It's an impact on the economy as a whole," he said.

"When we're talking about 10 billion that's sort of a median estimate for the losses in Australia, that works out to almost $400 per person."

Professor Grafton said governments, policymakers and workplaces needed to take much greater responsibility because the cost of long COVID was much greater than putting in place better frameworks.

"It's not a big cost, it's not trivial but it's a lower cost than the cost that we're incurring at the moment with long COVID," he said.

"It seems to me the basic economics cost benefit analysis tells us it makes sense from a social perspective, from a health perspective, public health perspective … It's time that decision makers step up."

What are some solutions?

Researchers have estimated by December this year, there is a likelihood that between 173,000 to 873,000 Australians will still be living with long COVID a year after their initial infection — that does not include reinfection.

University of New South Wales Professor Raina MacIntyre, who specialises in epidemiology, led the study.

She said it was time for a more nuanced policy around the coronavirus, and its long-term impacts.

"I think the long-term impact is not going to be good unless we change course," she said.

"Start encouraging more people to get vaccinated, allow wider access to antivirals, take measures like safe indoor air seriously … look at situations where we do need to use masks, like in hospitals, in clinical areas."

Professor Rainia MacIntrye said there needed to be a shift in both attitudes and policies when it came to how Australia dealt with the coronavirus.  ( ABC News )

Professor MacIntrye also highlighted the need for better policies on vaccination for children.

Vaccination is not currently recommended for Australian children under five years except those with medical conditions that "increases the risk of severe COVID-19 illness". 

The US Centers for Disease Control and Prevention recommends COVID-19 vaccines for everyone six months and older. 

"It's not a nothing burger in children. It is a serious infection."

She said there were simple ways to minimise risk when it came to COVID-19 infections.

"Using an air purifier, which is not very expensive, or opening a window if there is a window that can be opened, or wearing a mask," she said.

"A lot of people just say most people recover from long COVID. Well, you've got to think of it from a population health perspective, even if only 2 per cent of people have long COVID that's a major public health population health burden."

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• [News] TSMC to Break Ground on Germany Fab, with Overseas Investment Reportedly Amounting to nearly USD 100 billion

As per a report from Economic Daily News , TSMC’s first European 12-inch fab is set to hold its groundbreaking ceremony on August 20. Along with TSMC’s ongoing projects in Japan and the U.S., the investment has amounted to nearly USD 100 billion. Meanwhile, this move is also expected to generate opportunities for supporting Taiwanese contractors.

The new TSMC facility in Dresden, Germany, is anticipated to use 28/22nm planar CMOS and 16/12nm FinFET process, with a monthly production capacity of approximately 40k 12-inch wafers.

Per TSMC’s plan, its fab in Germany will start operation by the end of 2027, with estimated costs exceeding EUR 10 billion (approximately USD 10.8 billion), creating opportunities in plant equipment and engineering sectors.

In response to the demand, Marketech International, a Taiwanese fab tool maker, has already set up offices and accommodations in Dresden in 2023 and has deployed staff there.

Additionally, Topco Scientific, a Taiwanese semiconductor materials distributor, is also said to be planning to establish a presence in Europe, with plans to set up operations in Prague, Czech Republic, about two hours’ drive from Dresden.

On the other hand, TSMC is accelerating the construction of its Kumamoto plant in Japan, with production scheduled to begin by the end of this year. This facility will be the fastest among TSMC’s new overseas fabs to start production. TSMC is also actively advancing the construction of a second Kumamoto plant.

TSMC plans to invest over USD 20 billion in its two Japanese facilities, which are expected to have a combined monthly capacity of over 100k 12-inch wafers. The plants will offer 40nm, 22/28nm, 12/16nm, and 6/7nm process.

Once operational, the Kumamoto plant is anticipated to generate significant opportunities in the semiconductor inspection sector.

MA-tek, a giant in semiconductor inspection and analysis services, is planning to expand its service at its laboratories in Nagoya and Kumamoto, while setting up a third laboratory to fully meet the needs of local semiconductor clients.

As for TSMC’s fab in Arizona, U.S., the company has planned a total capital expenditure exceeding USD 65 billion. Industry sources cited by Economic Daily News have expected that companies like United Integrated Services and Marketech International will continue to benefit from this investment.

• [News] TSMC Reports No Major Damage to Kumamoto Plant after 7.1 Magnitude Earthquake near Kyushu, Japan
• [News] TSMC’s German Plant Reported to Break Ground in Weeks, Expected to Begin Production by Late 2027

(Photo credit: TSMC)

Please note that this article cites information from Economic Daily News .

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