气候变化领域集成服务门户(CCPortal): Financial Risk, Renewable Energy Technology Budgets, and Environmental Sustainability: Is Going Green Possible?

CCPortal

DOI	10.3389/fenvs.2022.909190
	Financial Risk, Renewable Energy Technology Budgets, and Environmental Sustainability: Is Going Green Possible?
	Ahmad, Mahmood; Ahmed, Zahoor; Gavurova, Beata; Olah, Judit
发表日期	2022
EISSN	2296-665X
卷号	10
英文摘要	Since the industrial revolution, countries have been facing the issue of climate change and environmental degradation. It is widely believed that the investment in research and development of renewable energy can play a pivotal role in fighting against climate change. However, the financial risk also increases, which can influence renewable energy technology R&D budgets and environmental sustainability. Nevertheless, the current literature is silent on the linkage between financial risk, renewable energy technology budgets, and environmental quality. Against this backdrop, this article attempts to explore the dynamic linkage between financial risk, renewable energy technology budgets, and ecological footprint under the Environment Kuznets Curve (EKC) framework in Organization for Economic Cooperation and Development (OECD) countries. For this purpose, yearly data from 1984 to 2018 is employed using the advanced panel data estimation methods that address the slope heterogeneity and cross-sectional dependence issues. The results indicate that improvement in the financial risk index significantly decreases footprints, and renewable energy technology budgets also promote environmental sustainability. Economic globalization poses a significant negative effect on the ecological footprint, while energy consumption adds to the footprint. Moreover, the findings validated the EKC hypothesis in OECD countries. In addition, a unidirectional causality is detected from financial risk to renewable technology energy budgets, while bidirectional causality exists between financial risk and ecological footprint, and between financial risk, and economic growth. Based on the empirical findings, policy suggestions are presented to promote environmental sustainability.
英文关键词	financial risk; renewable energy technology budgets; environmental sustainability; OECD; CS-ARDL
语种	英语
WOS研究方向	Environmental Sciences
WOS类目	Science Citation Index Expanded (SCI-EXPANDED)
WOS记录号	WOS:000804772100001
来源期刊	FRONTIERS IN ENVIRONMENTAL SCIENCE
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/280692
作者单位	Shandong University of Technology; Cyprus International University; Technical University Kosice; University of Debrecen; University of Johannesburg
推荐引用方式 GB/T 7714	Ahmad, Mahmood,Ahmed, Zahoor,Gavurova, Beata,et al. Financial Risk, Renewable Energy Technology Budgets, and Environmental Sustainability: Is Going Green Possible?[J],2022,10.
APA	Ahmad, Mahmood,Ahmed, Zahoor,Gavurova, Beata,&Olah, Judit.(2022).Financial Risk, Renewable Energy Technology Budgets, and Environmental Sustainability: Is Going Green Possible?.FRONTIERS IN ENVIRONMENTAL SCIENCE,10.
MLA	Ahmad, Mahmood,et al."Financial Risk, Renewable Energy Technology Budgets, and Environmental Sustainability: Is Going Green Possible?".FRONTIERS IN ENVIRONMENTAL SCIENCE 10(2022).