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Journals / İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi / 2025 / Cilt: 12 Sayı: 3 Özel Sayı

Blockchain in Sustainable Finance: Evidence from Cryptocurrency, Green Bonds, and Clean Energy

Sürdürülebilir Finansta Blokzincir: Kripto Para, Yeşil Tahviller ve Temiz Enerjiden Kanıtlar

Emin Karataş(Türkiye Cumhuriyet Merkez Bankası)0000-0001-7715-6001
Önder Özgür(ANKARA YILDIRIM BEYAZIT ÜNİVERSİTESİ)0000-0001-5221-4842
Pages
889–904
Publication Date
2026-02-08
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Conclusion: The study advocates using blockchain for SDG policies and renewable energy to reduce blockchain’s environmental impact and this research extends the literature by offering a deeper insight into the financial and environmental influences shaping sustainability.

📌 3 Key Takeaways

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Objective & Hypothesis:Aim: This study explores the interaction between clean energy, sustainability, green bonds, and six blockchain indices (e.g., CBDCAI, ICEA, Bitcoin, Ethereum) from October 2017 to June 2023 to highlight sustainability issues related to recent financial innovations.
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Key Findings & Data:Results: The QARDL results reveal a significant long-term equilibrium between blockchain variables and the green industry, with varying reactions across quantiles.
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Conclusion & Impact:Conclusion: The study advocates using blockchain for SDG policies and renewable energy to reduce blockchain’s environmental impact and this research extends the literature by offering a deeper insight into the financial and environmental influences shaping sustainability.
🔬Design:Araştırma Makalesi
📍Scope:2017 Verileri
⚙️Variables:Kripto Para Çevresel Dikkat Endeksi · Bitcoin · Yeşil Tahviller

Abstract

Aim: This study explores the interaction between clean energy, sustainability, green bonds, and six blockchain indices (e.g., CBDCAI, ICEA, Bitcoin, Ethereum) from October 2017 to June 2023 to highlight sustainability issues related to recent financial innovations. The study aims to examine the extent to which sustainable equity prices are impacted by the stochastic features of Bitcoin and CBDC news across bull, bear, and normal market phases. Method: This study utilizes the Quantile Autoregressive Distributed Lag (QARDL) method to examine the short- and long-run impacts. Results: The QARDL results reveal a significant long-term equilibrium between blockchain variables and the green industry, with varying reactions across quantiles. Bitcoin, Ethereum, and green bonds positively impact the sustainable market index over time, especially in higher quantiles, supporting Sustainable Development Goals (SDGs). Conclusion: The study advocates using blockchain for SDG policies and renewable energy to reduce blockchain’s environmental impact and this research extends the literature by offering a deeper insight into the financial and environmental influences shaping sustainability.

Özet

Amaç: Bu çalışma, Ekim 2017'den Haziran 2023'e kadar temiz enerji, sürdürülebilirlik, yeşil tahviller ve altı blokzincir endeksi (örneğin, CBDCAI, ICEA, Bitcoin, Ethereum) arasındaki etkileşimi inceleyerek son finansal yeniliklerle ilgili sürdürülebilirlik sorunlarını vurgulamaktadır. Çalışmanın amacı, sürdürülebilir hisse senedi fiyatlarının, Bitcoin ve CBDC haberlerinin stokastik özelliklerinden boğa, ayı ve normal piyasa aşamalarında ne ölçüde etkilendiğini incelemektir. Yöntem: Bu çalışma, kısa ve uzun vadeli etkileri incelemek için Kantil Otoregresif Dağıtılmış Gecikme (QARDL) yöntemini kullanmaktadır. Bulgular: QARDL sonuçları, blokzincir değişkenleri ile yeşil endüstri arasında, kantiller arasında değişen tepkilerle önemli bir uzun vadeli denge ilişkisini ortaya koymaktadır. Bitcoin, Ethereum ve yeşil tahvil değişkenleri, özellikle daha yüksek kantillerde, sürdürülebilir piyasa endeksini olumlu yönde etkileyerek Sürdürülebilir Kalkınma Amaçlarını (SKA) desteklemektedir. Sonuç: Çalışma, blokzincir teknolojisinin çevresel etkisini azaltmak için sürdürülebilir kalkınma hedefleri (SDG) politikalarını ve yenilenebilir enerjinin kullanılmasını savunuyor ve bu araştırma, sürdürülebilirliği şekillendiren finansal ve çevresel etkilere dair daha derin bir bakış açısı sunarak literatürü genişletiyor.

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Cite This Article

Karataş, E., Özgür, Ö. (2026). Blockchain in Sustainable Finance: Evidence from Cryptocurrency, Green Bonds, and Clean Energy. İstanbul Gelişim Üniversitesi Sosyal Bilimler Dergisi, Cilt: 12 Sayı: 3 Özel Sayı, 889–904. https://doi.org/10.17336/igusbd.1719352

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