{"id":"https://openalex.org/W4415156458","doi":"https://doi.org/10.1007/s43621-025-01958-4","title":"The legal architecture of sustainable finance: a comparative analysis of green finance taxonomies in emerging and developed economies","display_name":"The legal architecture of sustainable finance: a comparative analysis of green finance taxonomies in emerging and developed economies","publication_year":2025,"publication_date":"2025-10-14","ids":{"openalex":"https://openalex.org/W4415156458","doi":"https://doi.org/10.1007/s43621-025-01958-4"},"language":"en","primary_location":{"id":"doi:10.1007/s43621-025-01958-4","doi":"https://doi.org/10.1007/s43621-025-01958-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s43621-025-01958-4","pdf_url":"https://link.springer.com/content/pdf/10.1007/s43621-025-01958-4.pdf","source":{"id":"https://openalex.org/S4210179043","display_name":"Discover Sustainability","issn_l":"2662-9984","issn":["2662-9984"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Discover Sustainability","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://link.springer.com/content/pdf/10.1007/s43621-025-01958-4.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5117536236","display_name":"Lubabalo Mjadu","orcid":"https://orcid.org/0009-0004-8182-0218","observed_orcids":["https://orcid.org/0009-0004-8182-0218"]},"institutions":[{"id":"https://openalex.org/I92579986","display_name":"Walter Sisulu University","ror":"https://ror.org/02svzjn28","country_code":"ZA","type":"education","lineage":["https://openalex.org/I92579986"]}],"countries":["ZA"],"is_corresponding":true,"raw_author_name":"Lubabalo Mjadu","raw_affiliation_strings":["Walter Sisulu University, Mthatha, Eastern Cape, South Africa"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Walter Sisulu University, Mthatha, Eastern Cape, South Africa","institution_ids":["https://openalex.org/I92579986"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5117536236"],"corresponding_institution_ids":["https://openalex.org/I92579986"],"apc_list":{"value":1390,"currency":"USD","value_usd":1390},"apc_paid":{"value":1390,"currency":"USD","value_usd":1390},"fwci":3.756,"has_fulltext":true,"cited_by_count":4,"citation_normalized_percentile":{"value":0.93373809,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":90,"max":98},"biblio":{"volume":"6","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14317","display_name":"Finance, Markets, and Regulation","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13616","display_name":"Governance, Compliance, and Sustainability","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/sustainable-finance","display_name":"sustainable finance","score":0.9419999718666077},{"id":"https://openalex.org/keywords/greenwashing","display_name":"greenwashing","score":0.9399999976158142},{"id":"https://openalex.org/keywords/regulatory-harmonization","display_name":"regulatory harmonization","score":0.8199999928474426},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.6359999775886536},{"id":"https://openalex.org/keywords/developed-countries","display_name":"developed countries","score":0.9399999976158142},{"id":"https://openalex.org/keywords/legal-enforceability","display_name":"legal enforceability","score":0.652999997138977},{"id":"https://openalex.org/keywords/transparency","display_name":"transparency","score":0.49399998784065247},{"id":"https://openalex.org/keywords/china","display_name":"China","score":0.640999972820282},{"id":"https://openalex.org/keywords/south-africa","display_name":"South Africa","score":0.9980000257492065},{"id":"https://openalex.org/keywords/asean","display_name":"ASEAN","score":0.9760000109672546},{"id":"https://openalex.org/keywords/latin-america","display_name":"Latin America","score":0.8619999885559082},{"id":"https://openalex.org/keywords/green-finance-regulation","display_name":"green finance regulation","score":0.44200000166893005}],"concepts":[{"id":"https://openalex.org/C21839126","wikidata":"https://www.wikidata.org/wiki/Q598188","display_name":"Green economy","level":3,"score":0.5803999900817871},{"id":"https://openalex.org/C2778815883","wikidata":"https://www.wikidata.org/wiki/Q983063","display_name":"Greenwashing","level":3,"score":0.5284000039100647},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.5181000232696533},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4715999960899353},{"id":"https://openalex.org/C66204764","wikidata":"https://www.wikidata.org/wiki/Q219416","display_name":"Sustainability","level":2,"score":0.4537999927997589},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4352000057697296},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.43470001220703125},{"id":"https://openalex.org/C552854447","wikidata":"https://www.wikidata.org/wiki/Q131201","display_name":"Sustainable development","level":2,"score":0.4242999851703644},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.40799999237060547},{"id":"https://openalex.org/C2780919918","wikidata":"https://www.wikidata.org/wiki/Q1668341","display_name":"Climate Finance","level":3,"score":0.3684999942779541},{"id":"https://openalex.org/C158129432","wikidata":"https://www.wikidata.org/wiki/Q7766927","display_name":"Statutory law","level":2,"score":0.3440999984741211},{"id":"https://openalex.org/C9354725","wikidata":"https://www.wikidata.org/wiki/Q286017","display_name":"Operationalization","level":2,"score":0.3433000147342682},{"id":"https://openalex.org/C522695570","wikidata":"https://www.wikidata.org/wiki/Q6517578","display_name":"Legal research","level":2,"score":0.33959999680519104},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.3361999988555908},{"id":"https://openalex.org/C128069549","wikidata":"https://www.wikidata.org/wiki/Q328798","display_name":"Environmental law","level":2,"score":0.33000001311302185},{"id":"https://openalex.org/C510755694","wikidata":"https://www.wikidata.org/wiki/Q281095","display_name":"Financial regulation","level":2,"score":0.3287000060081482},{"id":"https://openalex.org/C74363100","wikidata":"https://www.wikidata.org/wiki/Q273005","display_name":"Economic system","level":1,"score":0.32409998774528503},{"id":"https://openalex.org/C207390915","wikidata":"https://www.wikidata.org/wiki/Q1230525","display_name":"Divergence (linguistics)","level":2,"score":0.3082999885082245},{"id":"https://openalex.org/C2779508350","wikidata":"https://www.wikidata.org/wiki/Q6041185","display_name":"Institutional analysis","level":2,"score":0.2957000136375427},{"id":"https://openalex.org/C2778556080","wikidata":"https://www.wikidata.org/wiki/Q5603535","display_name":"Green growth","level":3,"score":0.2915000021457672},{"id":"https://openalex.org/C2910001868","wikidata":"https://www.wikidata.org/wiki/Q458","display_name":"European union","level":2,"score":0.2847000062465668},{"id":"https://openalex.org/C206757995","wikidata":"https://www.wikidata.org/wiki/Q1665188","display_name":"Institutional investor","level":3,"score":0.2838999927043915},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.2741999924182892},{"id":"https://openalex.org/C191654821","wikidata":"https://www.wikidata.org/wiki/Q247506","display_name":"Financial instrument","level":2,"score":0.26910001039505005},{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.2687000036239624},{"id":"https://openalex.org/C2777351259","wikidata":"https://www.wikidata.org/wiki/Q7309700","display_name":"Regulatory reform","level":2,"score":0.2648000121116638},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.263700008392334},{"id":"https://openalex.org/C178411942","wikidata":"https://www.wikidata.org/wiki/Q622657","display_name":"Market failure","level":2,"score":0.26109999418258667},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.2581000030040741},{"id":"https://openalex.org/C100001284","wikidata":"https://www.wikidata.org/wiki/Q2248246","display_name":"Public economics","level":1,"score":0.25529998540878296}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1007/s43621-025-01958-4","doi":"https://doi.org/10.1007/s43621-025-01958-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s43621-025-01958-4","pdf_url":"https://link.springer.com/content/pdf/10.1007/s43621-025-01958-4.pdf","source":{"id":"https://openalex.org/S4210179043","display_name":"Discover Sustainability","issn_l":"2662-9984","issn":["2662-9984"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Discover Sustainability","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:d62ff6cf18e94094bf8b41963a2cff31","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/d62ff6cf18e94094bf8b41963a2cff31","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Discover Sustainability, Vol 6, Iss 1, Pp 1-14 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1007/s43621-025-01958-4","doi":"https://doi.org/10.1007/s43621-025-01958-4","is_oa":true,"landing_page_url":"https://doi.org/10.1007/s43621-025-01958-4","pdf_url":"https://link.springer.com/content/pdf/10.1007/s43621-025-01958-4.pdf","source":{"id":"https://openalex.org/S4210179043","display_name":"Discover Sustainability","issn_l":"2662-9984","issn":["2662-9984"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","jufo-1","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310319965","host_organization_name":"Springer Nature","host_organization_lineage":["https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Nature"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Discover Sustainability","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions","score":0.5473999977111816},{"id":"https://metadata.un.org/sdg/13","display_name":"Climate action","score":0.4399999976158142}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4415156458.pdf","grobid_xml":"https://content.openalex.org/works/W4415156458.grobid-xml"},"referenced_works_count":47,"referenced_works":["https://openalex.org/W2803396061","https://openalex.org/W2985138974","https://openalex.org/W2990232364","https://openalex.org/W3004992388","https://openalex.org/W3035723222","https://openalex.org/W3048755366","https://openalex.org/W3048962434","https://openalex.org/W3096131441","https://openalex.org/W3135962898","https://openalex.org/W3144925663","https://openalex.org/W3164616373","https://openalex.org/W3179135191","https://openalex.org/W3191957699","https://openalex.org/W3195614925","https://openalex.org/W3207424001","https://openalex.org/W4213157293","https://openalex.org/W4214540262","https://openalex.org/W4297009266","https://openalex.org/W4297231051","https://openalex.org/W4311633609","https://openalex.org/W4315781946","https://openalex.org/W4317717495","https://openalex.org/W4323305918","https://openalex.org/W4323846284","https://openalex.org/W4364359977","https://openalex.org/W4381276130","https://openalex.org/W4385982580","https://openalex.org/W4386713217","https://openalex.org/W4387737759","https://openalex.org/W4388070141","https://openalex.org/W4389463388","https://openalex.org/W4393939684","https://openalex.org/W4394957411","https://openalex.org/W4399296070","https://openalex.org/W4399418510","https://openalex.org/W4399562548","https://openalex.org/W4399717768","https://openalex.org/W4400366137","https://openalex.org/W4400408535","https://openalex.org/W4400956892","https://openalex.org/W4402989700","https://openalex.org/W4403502171","https://openalex.org/W4404872951","https://openalex.org/W4406272462","https://openalex.org/W4408515910","https://openalex.org/W4410284852","https://openalex.org/W4411064649"],"related_works":[],"abstract_inverted_index":{"In":[0],"response":[1],"to":[2,23,34,110,132,187,207,234],"escalating":[3],"climate":[4],"and":[5,52,62,83,86,107,122,135,142,151,166,182,190,217,230,241],"social":[6],"imperatives,":[7],"sustainable":[8,20,236],"finance":[9,28,74,112,193,237],"has":[10],"become":[11],"a":[12,68,93],"key":[13],"instrument":[14],"for":[15,226],"reallocating":[16],"capital":[17],"toward":[18],"environmentally":[19],"activities.":[21,41],"Central":[22],"this":[24],"transition":[25],"are":[26,185],"green":[27,73,111,192,199],"taxonomies,":[29,121],"which":[30,133],"establish":[31],"classification":[32,205],"frameworks":[33,211],"determine":[35],"the":[36,50,77,130,139,157],"environmental":[37],"sustainability":[38],"of":[39,54,72,102,144],"economic":[40],"Despite":[42],"their":[43],"growing":[44],"prominence,":[45],"significant":[46],"disparities":[47],"persist":[48],"in":[49,148,163,172],"design":[51],"application":[53],"such":[55],"taxonomies":[56,75,200],"across":[57],"jurisdictions,":[58],"particularly":[59,147],"between":[60,159],"developed":[61],"emerging":[63],"economies.":[64],"This":[65,90],"article":[66,127],"offers":[67],"comparative":[69,99],"legal":[70,95,100,108,124,134,161,178,210],"analysis":[71,101,115,155],"within":[76],"European":[78],"Union,":[79],"China,":[80],"South":[81],"Africa,":[82],"selected":[84],"ASEAN":[85],"Latin":[87],"American":[88],"states.":[89],"research":[91],"adopts":[92],"doctrinal":[94],"methodology,":[96],"relying":[97],"on":[98,117],"regulatory":[103,180,228],"texts,":[104],"policy":[105],"documents,":[106,119],"related":[109],"taxonomies.":[113,244],"The":[114,126,154,195],"draws":[116],"statutory":[118],"official":[120],"secondary":[123],"literature.":[125],"critically":[128],"examines":[129],"extent":[131],"institutional":[136,183],"architectures":[137],"support":[138],"integrity,":[140],"enforceability,":[141,179],"functionality":[143],"these":[145],"frameworks,":[146],"addressing":[149],"greenwashing":[150],"promoting":[152],"transparency.":[153],"underscores":[156],"divergence":[158],"binding":[160],"instruments":[162],"advanced":[164],"economies":[165],"voluntary":[167],"or":[168],"hybrid":[169],"mechanisms":[170],"prevalent":[171],"developing":[173],"jurisdictions.":[174],"It":[175],"posits":[176],"that":[177,198,212],"harmonization,":[181],"coherence":[184],"essential":[186],"fostering":[188],"credible":[189],"effective":[191],"ecosystems.":[194],"paper":[196],"concludes":[197],"must":[201],"extend":[202],"beyond":[203],"technical":[204],"systems":[206],"encompass":[208],"robust":[209],"ensure":[213],"accountability,":[214],"market":[215],"trust,":[216],"cross-border":[218],"financial":[219,231],"integration.":[220],"These":[221],"findings":[222],"offer":[223],"critical":[224],"implications":[225],"policymakers,":[227],"authorities,":[229],"institutions":[232],"seeking":[233],"operationalize":[235],"through":[238],"legally":[239],"grounded":[240],"globally":[242],"coherent":[243]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":1}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2025-10-14T00:00:00"}
