The Role of Financial Institutions in Financing Renewable Energy Projects and Green Economic Transitions
Posted: Dec 10, 2023
Abstract
This research investigates the transformative role of financial institutions in accelerating renewable energy financing and facilitating green economic transitions through a novel methodological framework combining institutional theory, network analysis, and evolutionary economics. Unlike previous studies that treat financial institutions as passive intermediaries, our approach conceptualizes them as active agents of change with complex adaptive behaviors. We developed a multi-agent simulation model incorporating 1,247 financial institutions across 78 countries, tracking their investment decisions in renewable energy projects over a 15-year period. Our findings reveal three distinct institutional archetypes—Transformative Catalysts, Adaptive Followers, and Risk-Averse Traditionalists—each exhibiting unique behavioral patterns in renewable energy financing. The research demonstrates that Transformative Catalysts, representing only 18
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