Green bond vs. Islamic bond: Which one is more environmentally friendly?

This research investigates the dynamic dependence and causality relationship of the S&P Kensho Clean Energy (CE) and Cleantech (CT) indices with two green bond indices, including the S&P Green Bond Index (GB) and Green Bond Select (GBS) indices, and four Islamic bond indices, including A-, AA-, AAA-, and BBB-graded Sukuk Indices. In the long- and medium-term, the dependence of CE and CT on Sukuk and green bond indices strengthens under normal or bearish market conditions based on quantile cross-spectral (coherency). Overall, among all alternative financing instruments, AA- and A-rated Sukuk indices and GBS indices have higher coherency with CE and CT.

What shapes the impact of environmental regulation on energy intensity? New evidence from enterprise investment behavior in China.

With the deepening of economic reforms in China, the low-energy transition is increasingly relying on government policy and enterprise participation. This research thus investigates the mechanism through which environmental regulation impacts industrial energy intensity. Based on provincial data during 2005-2019, we construct a dynamic panel model to capture the linkage between environmental regulation and the energy intensity with the consideration of the mediation effect of enterprise investment behavior, i.