Green financing role on climate change-supportive architectural design development: directions for green architectural designs.

Abstract

The purpose of the study is to study the role of green financing in developing climate change supportive architectural design development to shift the modern world towards the idea of green architectural designs. Thus, the research estimated the nexus among green financing, green architectural development, and climate change mitigation by using the unit root analysis technique, co-integration analysis technique, bound-test estimates, auto-regressive distributive lag-error correction modeling (ARDL-ECM) technique to predict different short-run and long-run relationships, and robustness analysis technique. Following the previous study, modeling green financing index and green architectural design index are used to measure the variables. The findings of the study confirmed that green financing has significant role in supporting the climate change induction in architectural design development both in short run and long run. Moreover, green financing supports in promoting green architectural designs. By this, the viability of green financing in climate change that induces architecturally designed building is confirmed. Correspondingly, empirical results have shown that green financing contributes in climate change with 0.66, green infrastructure development with 0.72, and economic development with 0.31. While in long-run, green financing role in changing inside of climate of the architectural design is 0.74, supports in green infrastructure development with 0.67, and holds the 0.29 percent potential of contributing in economic development. These findings are robust with the 0.74 value of F-statistics, 1.89 value of t-statistics, and 110 value of Narayan standard estimate. In last, the study suggested way forward for stakeholders to promote green architectural designs to achieve SDG 8, SDG 11, and SDG 13.