ABSTRACT
The study aims to test the nexus of green financing with renewable electricity generation and energy efficiency. The study used data envelopment analysis (DEA) technique during the year of 2016 to 2020 in developed and developing countries. The findings show that there is a 24% possibility of worldwide rise in expenditures in renewable energy through energy efficiency projects and probably could fall around 17% much further in 2017 and 2018. This may jeopardize the Sustainable Development Goals (SDGs) and the Paris climate change agreement. Lack of access to private financing slows the development of green initiatives. Now that sustainable energy is not about science and technology, it is all about getting financing in developed and developing countries. As policy measure, the study suggested to value environmental initiatives, like other infrastructure initiatives, for greater electricity generation and energy efficiency in developed and developing countries. Such infrastructural projects need long-term financing and capital intensiveness. It is further suggested to sustain growth, development, and energy poverty reduction, and around $26 trillion would be required, in terms of green financing, in the developed and developing countries alone by the year 2030 to enhance energy efficiency. To achieve energy sustainability goals in developed and developing countries, recent research suggested some policy implication considering the post COVID-19 time. If such policy implications are implemented successfully, there are chances that green financing would make energy generation and energy efficiency effective.
ABSTRACT
The research intends to investigate the green financing trends movement with renewable energy dependence of G-20 economies. The data envelopment analysis (DEA) technique explains research results and illustrates current topicality. The Wald econometric method is utilized for robustness analysis, and a comparative picture of public support is provided. The research demonstrated that green financing metrics are significantly affected by public support during the COVID-19 crisis. Due to the volatility of COVID-19, public assistance funding plays an uneven role in green finance. G-20 member nations financed 17% of total green financing using public funds, which contributed 4% to GDP and achieved 16% of annual energy dependence improvement due to COVID-19 and 24% additional production from renewable energy resources. The results of this research demand maximal support by using positions in the government, ministries in charge of energy efficiency, and departments for energy efficiency improvement. Several possible policy interventions are discussed in this paper that may increase renewable energy efficiency via several alternative approaches, including on-bill financing, direct efficiency grant, guaranteed energy efficiency contracts, and credit lines for energy efficiency. If recommended policies are implemented successfully, they are expected to reduce the crisis' impact and elevate funding for energy efficiency.
Subject(s)
COVID-19 , Humans , Health Expenditures , Renewable Energy , Financing, Government , Government , Economic Development , Carbon DioxideABSTRACT
The study tests the connection between green financing and wind power energy generation during the COVID-19 crisis. The study tested the relationship between the variables using the Kalman approach, Hansen technique and sensitivity analysis using matrix component factors. The findings revealed that wind power energy consumption had increased quickly in past times due to its input nature for biofuel production. However, the capability of onshore and offshore wind power production grew by 7% in COVID-19 with the role of green financing in the wind power sector. Moreover, green financing enhances the demands on wind generators and energy converters' usage and dependability by 26%. For this, a 39% increase in green financing is noticed by the research findings during the COVID-19 crisis period. Such robust study findings present the latest insights that green financing is an eminent and viable source of financing to enhance wind power energy generation. Following these, multiple research implications are also presented for the key stakeholders.
ABSTRACT
Purpose>Green sukuk is a tool to finance climate change which has garnered considerable attention. However, having only recently come into existence has its own set of challenges for this tool that require immediate identification and government intervention to intensify its growth. This study aims to explore the challenges encountered by green sukuk issuers and the structure of a reconciled green sukuk issuance framework to speed up the market’s growth with the right interventions.Design/methodology/approach>The study engaged a qualitative approach via multiple case study interviews with green sukuk issuers and used expert views for data triangulation to generate the findings. A total of four green sukuk issuers participated in the interviews, and for data triangulation purposes, four expert’s opinions and views were considered. The thematic analysis technique is used to report the findings.Findings>It was revealed that amongst the challenges encountered in the green sukuk market are shoddy green taxonomy, difficulty in identifying green assets, it is time-consuming and costly, no compelling benefits and exposure to higher-risk profiles.Research limitations/implications>This study may be influenced by observer error and observer bias. However, the researchers have taken cautious steps to overcome these issues by following strict case study methodology procedures and triangulating the qualitative research findings with views from green sukuk experts. These interventions increased the rigour and trustworthiness of the results.Originality/value>This study is amongst the pioneer in Malaysia, exploring challenges in the green sukuk market. The results are relevant to governments, regulators, institutions and central banks to structure the right interventions to counter the challenges. Greater government involvement is required to strengthen the green sukuk market and to spearhead the green agenda.
ABSTRACT
The aim of study is to estimate the role of energy financing for energy retrofit in COVID-19, with the intervening role of green bond financing. For this, Kalman technique is applied to infer the empirical findings. It is found that energy financing is significantly dependent on green bonds, and green bonds have a significant role in energy retrofit in E-7 economies specifically. It is further found that E-7 economies gained significant rise in energy efficiency financing green bonds financing, that has supportively extended energy retrofit - before and during COVID-19 crises. It is further found significant that the E-7 nations have to put alot of money into hydro and nuclear energy for energy retrofit, with low carbon emissions. In the light of COVID-19 crises, this study offers policy recommendations for effective energy management. However, such policy recommendations are expected to finely serve the financial intermediaries and national governments of E-7 economies to better optimize energy financing through green bond financing. The novelty of the study exists in topical framework and research directions, talking about the way forwards for energy efficiency financing - which is one of the latest issue of the recent times. Hence, this research provides some empirical verifications about energy financing in COVID-19 crises for energy retrofit, and shares some suggestions for stakeholders.