Role of climate finance in addressing climate justice: a study on Asian economics

Purpose Climate justice seeks to achieve fairness and equity in mitigating the effects of climate change. Climate finance is the flow of money that helps in reducing emissions and developing resilience to climate change. The present study aims to find out the impact of climate finance in addressing climate changes for selected Asian countries. Design/methodology/approach Panel data of 22 Asian countries from 2000 to 2021 is considered for empirical analysis. From co-occurrence and factorial analysis, the study observed that climate finance acts as a dominant factor in addressing climate justice. Mitigation finance and CO2 emissions are considered as the primary variables for empirical analysis. Based on diagnostic checking, the panel autoregressive distributed lag (ARDL) model is used for the empirical investigation. Findings Findings indicate that climate finance has a significant impact on reducing CO2 emissions, thereby playing a key role in climate justice by promoting environmental sustainability in Asian countries. Results also indicate that distributive justice in Asian countries has progressed over time. Originality/value Mapping climate justice through climate finance for Asian economics is a pioneering work in the field of climate studies and also a novel addition to the existing literature.