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Green and Climate finance--hereafter, green finance--, indicates ensuring sustainability through firmly established institutions and systems (Managi and Kumar, 2018; Sachs et al., 2019). Green finance therefore includes environmental, social, and governance (ESG) factors as critically connected to the financial performances, usually represented as firm profits, stock returns among others. Thus, understanding the role and the impact of green finance on corporate performance is becoming increasingly crucial as the market for sustainable investment grows. There is a rapid growth of the green finance market, specifically on the labelled green bond market after 2008. Furthermore,© 2021 published by Elsevier. This manuscript is made available under the Elsevier user license https://www. elsevier. com/open-access/userlicense/1.0/