Climate stressors, green finance and food productivity: comparative evidence from Asia and Africa

Purpose Climate stressors pose a significant challenge to global food systems by influencing food productivity. This study examines the impact of climate-related factors, specifically carbon footprint and temperature, on food productivity, while also exploring the moderating role of green finance in major economies across Asia and Africa from 1990 to 2022. Design/methodology/approach The study employed yearly World Bank data using the panel Autoregressive Distributed Lag (ARDL) Model. This technique examines variables integrated at distinct levels (order 0 and order 1) and captures within-country variability while addressing cross-country variances and country-specific shocks. Findings The empirical results reveal divergent regional pathways. In Asia, carbon footprint exhibits a marginally significant negative impact on food productivity, whereas temperature surprisingly demonstrates a significant positive effect. Conversely, in Africa, carbon footprint exerts a strongly significant negative influence. Crucially, green finance emerges as a statistically significant and positive driver of food productivity in both regions, highlighting its potential as a key tool for building climate-resilient agri-food systems. Practical implications The findings emphasize the need for region-specific climate adaptation and mitigation strategies, particularly in African economies where agricultural systems remain highly climate-sensitive. Policymakers should strengthen green financial frameworks and invest in technological innovation to promote climate-resilient agriculture, enhance food security and achieve long-term sustainability goals. Originality/value This study provides the first known comparative, cross-regional analysis of the linkages between carbon footprint, green finance and food productivity in Asia and Africa. Employing a panel ARDL approach over 33 years, it offers novel insights into the temporal dynamics and regional disparities that inform targeted investment and policy decisions in the global agri-food sector.