Call-for-papers on Green Digital Finance for Achieving
Sustainable Development Goals (book)
Editors: Farhad Taghizadeh-Hesary (Tokai University) & Suk Hyun (Yonsei University)
Indexed inOutline: To meet obligations under the Paris Agreement and achieve sustainable
development goals (SDGs), significant investments in renewable energy (RE) production
and infrastructure are necessary worldwide. An estimated USD 5-7 trillion of annual
investment will be needed to deliver on UN SDGs and the Paris Agreement on Climate
Change (Brookings, 2016)1. However, in 2017 and 2018, global investment in renewables
and energy efficiency declined by 1 and 3%, respectively. There is a risk that it will slow
further; clearly, fossil fuels still dominate energy investment (IEA, 2018) 2 . This could
threaten the expansion of green energy needed to provide energy security and to tackle
climate change. (Sachs et al. 2019)3. In 2019, RE investment increased by 1% to 311 billion
US$. However, energy efficiency investments reduced from 252 billion US$ to 249 billion
US$ (IEA, 2020). IEA estimated that in 2020 due to the COVID-19 pandemic and the global
economic recessions, the ongoing investment in RE projects fell by around 10% for theyear. Energy efficiency investment may fell by over 12% in 2020, mostly due to the 6%
assumed decline in global economic growth, potentially in response to less available
capital for efficiency projects and lower energy prices. Energy efficiency investment is
not enough to meet sustainability goals and reduce the effort required from the energy
supply 4 . The COVID-19 pandemic and the economic downturns resulted in a drastic
reduction in fossil fuel prices. Low fossil fuel price is harmful to developing renewableenergy projects, making solar, wind, and other RE resources less competitive electricity
sources. This could threaten the expansion of green energy needed to provide energy
security and meet SDG7 and SDG13. (Yoshino, Taghizadeh-Hesary, and Otsuka, 2020)5.
Although most recently, several new green financing solutions such as green bonds,green banks, green credit guarantee, carbon taxation, carbon trade, village funds,
community trust funds have been established in different countries, the aforementioned

1Brookings, 2016. Global Views, no. 5, sept 201. Links in the chain of sustainable finance. Accelerating private investments for theSDGs, including climate action
2International Energy Agency (2018b). Global energy investment in 2017 fails to keep up with energy security and sustainability
goals. Retrieved on Nov 17, 2020 from https://www.iea.org/newsroom/news/2018/july/global-energy-investment-in-2017-.html
3
Sachs, J., W.T. Woo, N. Yoshino and F. Taghizadeh-Hesary (2019). Importance of green finance for achieving sustainable development
goals and energy security. Handbook of Green Finance: Energy Security and Sustainable Development. J. Sachs, W.T. Woo, N. Yoshino
and F. Taghizadeh-Hesary Eds. Tokyo: Springer
4IEA (2020). World Energy Investment 2020. Paris: International Energy Agency
5Yoshino, N., F. Taghizadeh-Hesary, M. Otsuka (2020). Covid-19 and Optimal Portfolio Selection for Investment in Sustainable
Development Goals, Finance Research Letters,101695, https://doi.org/10.1016/j.frl.2020.101695

1

data shows that these are not sufficient, and alternative ways to finance projects arerequired. (Hyun, Park and Tian, 20206, Taghizadeh-Hesary and Yoshino, 20197; 20208)
Technological innovation is already offering sustainability solutions across the financial
system’s five core functions: moving value, storing value, exchanging value, funding
value creation; and managing value at risk. (UNDP, 2019) 9 . Increasing transparency,
accountability, decentralization of the financial system, improving risk management,
increasing competition, lowering the costs and improving efficiency, increasing thespeed, increasing cross-sectoral collaboration and integration are the features that thefinancial technology (FinTech) can provide (UNDP, 2016). Artificial intelligence (AI),distributed ledger technologies (DLT) or blockchain, peer-to-peer lending platforms, bigdata, internet-based and mobile-based payments, Internet of Things (IoT), matchmaking
platforms including crowdlending, tokenizing green assets are potential means to scale
up the green finance for achieving the SDGs (Yoshino, Schlosser and TaghizadehHesary, 2020)10. According to UNEP (2018),11 AI could lift global GDP by US$15-20 trillion
by 2030. Securing the resilience of such an achievement, notably its environmental andsocial sustainability, may well be accomplished by digitalizing finance or ‘digital finance.’
A literature review shows a gap in utilizing digital instruments and FinTech in green
finance. Against this background, Yonsei University and Tokai University are organizing
this call-for-papers to receive high-quality empirical, theoretical, or case study papers
to be published in a book volume titled “Green Digital Finance for Achieving Sustainable
Development Goals.” The book will be published by Springer Nature and indexed inScopus.
Topics of interest in this book include, but are not limited to:•••••6How can the digital finance revolution drive sustainable development?
How to best remove barriers for scaling green digital finance?
What are the regulatory and legal requirements and solutions for green digitalfinance?
What is the role of the governments in enhancing green digital finance?
What are the risks associated with green digital finance, and how to cope withthem?

Hyun S., D. Park and S. Tian (2020). Pricing of Green Labeling: A Comparison of Labeled and Unlabeled Green Bonds, FinanceResearch Letters, 2020, https://doi.org/10.1016/j.frl.2020.101816.
7

Taghizadeh-Hesary F., Yoshino N. (2019). The way to induce private participation in green finance and investment, FinanceResearch Letters, 31: 98-103, DOI: https://doi.org/10.1016/j.frl.2019.04.016
8Taghizadeh-Hesary, F.; Yoshino, N. (2020). Sustainable Solutions for Green Financing and Investment in Renewable Energy
Projects. Energies, 13, 788, DOI: https://doi.org/10.3390/en13040788
9UNDP (2016). Fintech and sustainable development: Assessing the implications. United Nations Development Programme: NewYork
10Yoshino, N., T. Schloesser, and F. Taghizadeh-Hesary. (2020). Social funding of green financing: An application of distributed
ledger technologies. International Journal of Finance & Economics, DOI: https://doi.org/10.1002/ijfe.2108
11UNEP (2018). Green Digital Finance: Mapping Current Practice and Potential In Switzerland and Beyond. United Nations
Environment Programme: Geneva

2•••Case studies on utilizing digital finance and FinTech in funding green projects indifferent countries and sectors.
Application of AI, DLT or blockchain, peer-to-peer lending platforms, big data,internet-based and mobile-based payments, IoT, matchmaking platforms
including crowdlending and tokenizing green assets in scaling up the green
financeFinancial institutions and green digital finance

Submission Procedure
Contributors should submit their extended paper in English by May 31, 2021. The deadline
is not extendable. The abstract should be about 1,000 words, including the title, name ofauthor(s), affiliation(s), research background, motivation, and methodology, andexpected policy implications. Abstracts should be submitted in word format tofarhad@tsc.u-tokai.ac.jp and sukhyun@yonsei.ac.kr
The subject of the email message: “Submission to the CFP on Green Digital Finance book.”
Successful applicants will be notified by June 10, 2021.
Accepted abstracts will be invited to present their full papers at a webinar to beorganized by Yonsei University and Tokai University.
Date of webinar: June 30, 2021
Selected applicants must submit their full paper by July 31, 2021. The paper should be
8,000- 10,000 words in length, including references, and should have the following
structure:
••
••
•
••••
•

Chapter title
Author info (including co-authors): name, affiliation, address, and e-mail)
Abstract (150-250 words)
Keywords or keyword phrases (4-8 words)
JEL classification code(s)Introduction
Main text (split into various sections with heads and subheads chosen byauthors)
Conclusion and policy recommendations
References (up to 50)
Index terms (1-2 per manuscript page, highlight in green)3

Tentative table of contents“Green Digital Finance for Achieving Sustainable Development Goals”
Chapter 0 – Introduction by the Editors
Section 1. Opportunities, Challenges, and Solutions
Chapter 1. Role of green digital finance in meeting the sustainable development goals
Chapter 2. Analyzing the technical barriers and recommendations for removing themto scale up green digital finance.
Chapter 3. Assessing the risks associated with green digital finance and policies forcoping with them.
Section 2. Regulatory and policy framework required for the green digital finance
Chapter 4. Regulatory and legal frameworks for promoting green digital finance
Chapter 5. Role of governments in the development of the green digital finance
Section 3. Recent progress in green digital finance in different countries and regions
Chapter 6. Recent progress in green digital finance in AsiaChapter 7. Recent progress in green digital finance in China, Japan, and the Republic ofKorea
Chapter 8. Recent progress in green digital finance in the ASEAN region
Chapter 9. Recent progress in green digital finance in India and South Asia
Chapter 10. Recent progress in green digital finance in Europe
Chapter 11. Recent progress in green digital finance in North and Latin America
Section 4. Role of financial institutions and Fintech in scaling up the green digital finance
Chapter 12. Role of banks and other financial institutions in enhancing the green digitalfinanceChapter 13. Application of artificial intelligence, distributed ledger technologies/
blockchain in scaling up the green finance
Chapter 14. Role of peer-to-to peer lending platforms in easing green finance
Chapter 15. Role of tokenizing green assets in boosting the green digital finance
Chapter 16. Application of big data and the Internet of Things in green finance4