Impact of Green Fiscal Policy on Investment Efficiency of Renewable Energy Enterprises in Kazakhstan

Abstract

Years of industrialization and reliance on energies such as oil and coal have resulted in global pollution on an unprecedented scale. Carbon footprint, destruction of forests, melting away of ice caps in the North Pole, and climate change have persuaded many to adopt a more sustainable growth. In the wake of this catastrophe, “green” energy is a phenomenon that takes a step toward sustained development. Green energy consists of innovative and cost-effective ways to address the global consciousness by switching to renewable energy, water resources management, waste reduction, etc. Green Fiscal Policy aims to align prices and mobilize resources for climate change and sustainable development. Many developed and developing countries like Kazakhstan are taking the initiative towards zero carbon emission and renewable energy. The challenges of implementing the required policies include overcoming the barriers of the status quo to establish a new Geo-political and economic system in Kazakhstan. Political and economic challenges persist despite its vision for 2050 that Green Economy influences. This report focuses on Kazakhstan's natural resources, topography, and renewable energy enterprises. The Green Fiscal Policy is closely examined over Kazakhstan's current investment efficiency scenario.

Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion

“…On the other hand, it was discovered that taxation revenue, environmental policies, and the incorporation of renewable energy sources effectively mitigate carbon footprints. In another study, Mazina, Syzdykova, Myrzhykbayeva, Raikhanova and Nurgaliyeva [9] examine the potential effectiveness of Green Fiscal Policy in harmonizing pricing mechanisms and mobilizing resources to address climate change and advance sustainability.…”

“…Green investments are investments in initiatives or businesses that are both environmentally beneficial and have a long-term focus, which includes investments in renewable energy, energy efficiency, sustainable infrastructure, and other ecologically beneficial activities. Green investments address environmental concerns while promoting economic development and job creation [4,9,21,29,[67][68][69][70][71][72]. Table 1 displayed the variables definition and data sources.…”

“…The United Nations Sustainable Development Goals (SDGs) comprise 17 targets designed to eradicate poverty, protect the environment, and promote prosperity for all individuals. Goal 7 of the Sustainable Development Goals (SDGs) aims to ensure universal access to affordable, reliable, sustainable, and modern energy for all individuals [5][6][7][8][9]. This objective underscores the importance of clean energy in the context of sustainable longterm development.…”

Neuro quantum-inspired decision-making for investor perception in green and conventional bond investments

“…There are many different investment instruments in the financial markets. According to Chang et al (2022), the main difference of bonds from others is that they have less risk (Nurgaliyeva et al, 2022;Mazina et al, 2022;Baker et al, 2022). On the other hand, since it is less risky, its returns may be less compared to some other investment products (Tan et al, 2022).…”

Economic Growth Effects of Fiscal Policy in South Africa: Empirical Evidence from Personal Income Tax

“…Tax revenue can influence firm operations as well as research and development (Tendengu et al, 2022) while Maganya (2020) asserted that taxes have a potential to raise the cost of capital and decrease private agent's incentives to invest. A high tax regime deter foreign direct investment, because they will not be able to maximise their profits thereby negatively affect long-term growth of the economy (Altarawneh et al, 2020;Mdanat et al, 2018;Mazina et al, 2022). In order to take advantage of the low tax rates and strong investment opportunities, local investors will begin to invest abroad.…”