Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

Wang, Xiaoxia; Huang, Jiaoya; Xiang, Ziman; Huang, Jialiang

doi:10.3389/fenrg.2021.786659

Cited by 45 publications

(17 citation statements)

References 64 publications

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“…The development of new renewable energy sources has a huge influence on CO 2 emissions, which means that the world should invest more in R&D to find ways to minimize these emissions. A similar conclusion was reached by Koçak andUlucak (2019), Álvarez-Herránz et al (2021), and Wang et al (2019Wang et al ( , 2021. Public-private partnership investments in renewable energy are increasing because of the negative effects on CO 2 emissions that The overall GDP of a region has a considerable influence on CO 2 emissions, which indicates that the output rise is connected to the increased usage of energy; according to this study, renewable energy sources should be given greater weight and attention to address the problem.…”

Section: Discussionsupporting

confidence: 75%

“…Those who oppose globalization believe that the environmental impacts are two-fold. First and foremost, pollution havens occurs when trade reforms of liberalization enable polluting industries to be relocated to regions with less stringent regulatory controls (Wang, Huang, and Xiang, 2021). It is also likely that pollution will rise in low-income or emerging nations as a result of globalization until they reach a certain degree of economic development.…”

Section: Introductionmentioning

confidence: 99%

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Green finance development and environmental sustainability: A panel data analysis

Khan

Akbar

Nasim

et al. 2022

Front. Environ. Sci.

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This study considers five regions, i.e., South Asia, South-East Asia, China, Middle Eastern countries, and European countries, and took their data for 15 years. This study makes a significant contribution to the literature by examining the impact of green finance on environmental sustainability. Green finance development is represented by GDP, investment in renewable energy sources, investment in research and development (R&D) for eco-friendly projects, and public–private partnership investment in renewable energy projects. Green financing development in the chosen panel exhibits a distinct geographical cluster effect, with significant regional variances. The most important influencing elements are regional GDP, regional innovation level, and air quality, whereas the degree of financial development and industrial structure optimization are insignificant. The degree of financial development and industrial structure optimization are related to the amount of green finance development mostly via spillover effects. The degree of financial development has a positive spillover impact, but industrial structure optimization has a negative spillover effect. This study reveals that an increase in the production of energy from renewable sources, an increase in R&D, and the evolution of public–private partnership investment in renewable energy reduce CO2 emissions. It is evidenced that green finance in renewable energy sources is necessary to achieve environmental sustainability. There is a strong need to increase green finance in renewable sources to target the minimization of global CO2 emissions. There should be cross-border trade of renewable energy between regions/countries to mitigate CO2 emissions globally. Moreover, this study ranks the regions based on environmental sustainability, which may help researchers and decision-makers to entice foreign direct and private investment in these regions. The implications of the findings of the study suggest that environmental sustainability benefits greatly from green financing and investing in renewable energy sources through public–private partnerships, which represents one of the best ways to ensure environmental sustainability.

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Section: Discussionsupporting

confidence: 75%

Section: Introductionmentioning

confidence: 99%

Green finance development and environmental sustainability: A panel data analysis

Khan

Akbar

Nasim

et al. 2022

Front. Environ. Sci.

View full text Add to dashboard Cite

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“…also did some digging and investigated the role of green bond financing in carbon reduction, the results showed the significant relation, however, the study did not propose any policy for sustainable development. Wang et al (2021) also added their contribution by providing a comprehensive view regarding the significance of green bond in the development of low-carbon society. The study offered some suggestions that are of equally important to achieve low carbon goal.…”

Section: Green Finance and Carbon Emissionsmentioning

confidence: 99%

Green Finance, Innovation, Agriculture Finance and Sustainable Economic Development: The Case of Indonesia’s Provincial Carbon Emissions

Taridala

Alzarliani²,

Fauziyah³

et al. 2023

IJEEP

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Indonesia is struggling with utmost pressure to restrict carbon emissions as it is included in those emerging economies who are recognized as highest carbon emitters. Nevertheless, the Indonesian government is showing remarkable effort to reduce the emissions and set a planned goal to achieve low carbon economy. However, the major reliance on fossil fuels to maintain economic growth is creating obstacles for country. To explore that what tools could be helpful in the scenario to support country’s goal. The study intends to measure the role green finance, innovation, agriculture finance and sustainable economic development in gauging carbon intensity. The paper used two indicators to measure sustainable economic development; GDP per capita and renewable energy consumption. The panel data is used in the study which is extracted from 30 provinces of Indonesia in the time span of 2006-2020. The study used OLS fixed effect model and quantile regression technique to assess the relationship between explained variable and explanatory variables. Findings echo that with the increase in economic growth, carbon intensity also starts increasing. However, green finance, innovation, agriculture finance and renewable energy are significant tools to reduce the emissions. Furthermore, confirmation of findings was done through quantile regression analysis. The paper presents several implications as well on the basis of empirical evidence which are of great help for country.

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“…Thus, green investment is essential for low carbon emissions in the environment. Wang et al (2021) explored the link between renewable energy, green finance, and CO 2 pollutants with other controlling variables in BRICS countries from 2000 to 2018. The results showed that green finance and renewable energy increase carbon neutrality while trade openness, economic growth, and foreign direct investment stimulate CO 2 emissions.…”

Section: Green Energy Investment and Environmental Degradationmentioning

confidence: 99%

Green energy investment, renewable energy consumption, and carbon neutrality in China

Liu

Chang

et al. 2022

Front. Environ. Sci.

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This study investigates the dynamic impact of green energy investment and energy consumption on carbon emissions in China from 1995 to 2020. It employed the Bootstrap Autoregressive Distributed Lag method to examine the short and long-run relationship. The long-run findings indicate that green energy investment and renewable energy consumption decrease carbon emissions, whereas non-renewable energy consumption and economic growth increase carbon emissions in shorter and longer periods. The long-term reduction in carbon emissions may imply the transition toward carbon neutrality. However, the marginal contribution of renewable energy towards carbon neutrality is significantly higher than green energy investment due to investment lag effects. Moreover, the Error Correction Term (ECT) is significantly negative, authorizing the convergence towards steady-state equilibrium in case of any deviation with a 25% adjustment rate. The empirical results suggest that China should encourage green energy investment and increase the share of renewable energy sources to ensure carbon neutrality in the long run.

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Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

Cited by 45 publications

References 64 publications

Green finance development and environmental sustainability: A panel data analysis

Green finance development and environmental sustainability: A panel data analysis

Green Finance, Innovation, Agriculture Finance and Sustainable Economic Development: The Case of Indonesia’s Provincial Carbon Emissions

Green energy investment, renewable energy consumption, and carbon neutrality in China

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