Regional aspects of financial development and renewable energy: A cross-sectional study in 214 countries

Škare, Marinko; Gavurová, Beata; Sinković, Dean

doi:10.1016/j.eap.2023.05.006

Cited by 5 publications

(1 citation statement)

References 71 publications

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“…On the one hand, investment in renewable energy projects contributes to diversifying the energy mix, reducing dependency on fossil fuels and foreign energy imports, and enhancing resilience against price shocks and supply disruptions (Prisecaru, 2022;Zakeri et al, 2022). On the other hand, green energy financing stimulates innovation, fosters competition, and drives down the costs of renewable technologies, making them more accessible and affordable (Ahmed et al, 2022;Skare et al, 2023).…”

Section: Literature Reviewmentioning

confidence: 99%

Financing Green Energy for Enhancing Energy Security in Ukraine

Petlenko

2024

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This paper examines the financing of green energy initiatives as a critical element in strengthening Ukraine's energy security, especially in the context of post-war reconstruction and the need for sustainable and resilient energy infrastructure. The study aims to assess the potential and challenges of investing in green energy in Ukraine, considering the destruction caused by Russian military actions in the winter of 2022-2023, and the need for recovery based on sustainable models. In this regard, the obtained results emphasize the importance of creating a reliable and decarbonized energy sector, driven by both domestic needs and international cooperation with the EU and other partners. The analysis shows that despite strong support for the green energy transition, the development of the sector is hindered by the high capital intensity required for green technologies, which are often not competitive without government subsidies. This requires a careful balance between innovation and commercial viability of green energy projects, highlighting the need for public and private investments in technologies that can compete with traditional sources of energy in the long term and developing new financing tools for Ukraine. The conclusions indicate that a multifaceted approach is needed to ensure Ukraine's energy future and minimize risks. Such an approach should include policy reforms, strategic investments in proven green technologies, and fostering partnerships to bridge the commercialization gap. Policymakers face the dual challenge of accelerating the energy transition while managing financial constraints exacerbated by military spending, highlighting the trade-off between rapid development and the risks associated with financing innovation. Overall, this study contributes to the understanding of how green energy financing mechanisms can enhance Ukraine's energy security, suggesting broader implications for policy, investment, and technological innovation in the context of Ukraine's post-war recovery and future resilience.

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Section: Literature Reviewmentioning

confidence: 99%

Financing Green Energy for Enhancing Energy Security in Ukraine

Petlenko

2024

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Green Climate Finance Development and Environmental Air Quality Improvement: Unveiling the Role of Green Technological Progress and Industrial Symbiotic Agglomeration

Gao,

Hua,

Huo

2024

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Green finance represents a transformative approach within the financial sector, markedly influencing both economic growth and environmental stewardship. This study analyzes data spanning 2006 to 2020 from 278 Chinese cities to explore green climate finance (GCF) development's effects on environmental air quality and its operative mechanisms. Results demonstrate a significant positive correlation between GCF development and environmental air quality enhancements. The mediation effect analysis underscores the critical roles of industrial symbiotic networks and green technological progress in facilitating air quality improvements through GCF development. Further investigations delineate a more substantial influence of GCF development on air quality in resource‐dependent and larger urban areas. Non‐linear dynamics between GCF development and air quality enhancements are elucidated through threshold model investigations, indicating varying levels of GCF development effectiveness. This study provides valuable empirical insights for financial policy formulation concerning air quality management and carries profound implications for both theoretical understanding and practical application in the economic and environmental realms.

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