Abstract This study proposes an integrative approach to assess the relationship between climate risk exposure and sustainable development performance in the regional framework of the European Union (EU27), providing a new economic and geopolitical perspective on the green transition. The main aim of the research is to classify European regions according to their climate vulnerability and macroeconomic responsiveness, focusing on the impact of green finance on socio-economic convergence and long-term sustainability (2010-2023). Using advanced analytical techniques, such as heat maps, correlation analysis and cluster analysis, the study identifies distinct patterns and clusters of countries regarding climate resilience and socio-economic performance. The analysis is structured around two significant time frames: 2010, representative of the post-global economic crisis period, and 2023, marked by the consolidation of the European Green Deal, recent energy challenges and global geo-economic pressures. The results highlight clear differences between Western/Northern Europe and Eastern/Southern Europe. In the West and North, there is strong green infrastructure, solid climate policies, and sustainability is well-integrated into economic plans. However, the South and East face more climate risks, rely heavily on polluting industries, and struggle with weak infrastructure and using green funds. The research emphasizes the need for specific public policies and fair resource distribution for the green transition, considering these regional differences. It notes that green finance not only benefits the environment but also strengthens economic and social ties within the EU. Ensuring everyone has equal access to technology, innovation, and green knowledge is crucial for a fair and effective transition across all regions of Europe.
Criste et al. (Thu,) studied this question.
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