Retraction Note: The green wave for climate: overcoming financial intermediation challenges in climate change mitigation through credit subsidies

The aim of this research is to investigate the role of credit subsidies in overcoming financial intermediation challenges. The study seeks to evaluate the current financial intermediation landscape in both countries with respect to climate change mitigation, and to determine the effectiveness of credit subsidies as a policy instrument for promoting mitigation efforts. We apply the unit root test and the error correction modeling technique in examining data from 2012 to 2018 originating from China and Japan, respectively. After that, an explanation for the data is constructed utilizing a regression method. Among the most important findings are the contributions of credit subsidies to eliminating fiscal imbalances, the positive effects they have on global commerce, and the relevance of credit subsidies in reducing greenhouse gas emissions in China and Japan. A 28% and 37% reduction in climate change, respectively, can be achieved by implementing credit subsidy programs for local residents in China and Japan. To provide households with the finance they require to tackle climate change, the financial systems of the industrialized world, particularly those in China and Japan, need to be upgraded.