RETRACTED ARTICLE: How green finance and financial development promote green economic growth: deployment of clean energy sources in South Asia

A major issue for governments in the past few decades has been environmental deterioration caused by economic activity. Researchers are increasingly interested in the factors that contribute to environmental deterioration. This research fills the empirical gaps by looking at the influence of carbon...

Full description

Saved in:
Bibliographic Details
Published in:Environmental science and pollution research international 2022-09, Vol.29 (43), p.65521-65534
Main Authors: Sadiq, Muhammad, Amayri, Moataz Ahmad, Paramaiah, Ch, Mai, Nguyen Hong, Ngo, Thanh Quang, Phan, Thi Thu Hien
Format: Article
Language:English
Subjects:
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
Carbon footprint
Clean energy
Earth and Environmental Science
Economic development
Economic growth
Economics
Ecotoxicology
Emissions control
Energy sources
Environment
Environmental Chemistry
Environmental degradation
Environmental Health
Green economy
Greenhouse gases
R&D
Renewable energy
Research & development
Research Article
Sustainable practices
Waste Water Technology
Water Management
Water Pollution Control
Citations: Items that this one cites
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:A major issue for governments in the past few decades has been environmental deterioration caused by economic activity. Researchers are increasingly interested in the factors that contribute to environmental deterioration. This research fills the empirical gaps by looking at the influence of carbon footprints of growth and R&D investment on green finance development of renewable energy. Ordinary least square (OLS) is used in this work to assess the long-term connection between chosen variables in South Asia from 1995 to 2018. The importance of green finance, clean energy, and green financial instability have been identified as major variables. According to the study’s overall findings, clean energy, green finance, and sustainable economic growth are all important and positive indicators of a composite assessment of sustainable practices. Green bonds, reducing greenhouse gas emissions, and green economic development all play an important part in green finance development and renewable energy production. The research also found that R&D expenditures had a positive and substantial influence on green finance development in South Asia, with a 1% increase in R&D expenditures lowering the sustainability of the environment by 0.070% and 0.080%. Other practical consequences for South Asia include a more suitable path toward a greener economy, as suggested by the projected findings.
ISSN:0944-1344
1614-7499
DOI:10.1007/s11356-022-19947-9