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The COVID-19 pandemic has slowed progress to the achievement of net-zero and sustainability goals. In particular, emerging economies may benefit greatly from the cooperation of banking institutions in promoting green recovery. This study focusses on banking institutions in South Asian countries that boost the intermediary financial spread, according to a thorough sample of banks from 2011 to 2021. The analysis employs the data envelopment analysis method, and the results are robust. In addition to these characteristics, we also consider aspects such as urbanisation, industrialisation, and population expansion. Banks may play a significant role in facilitating the realisation of environmental targets because of the clear advantages of the results, which provide comfort for green recovery. As green financing may lead to more efficient and robust financial systems, the results provide strong evidence for policymakers, financial institutions, and the financial sector.
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This study examines the nexus between financial stability, climate risks, GHG emission mitigation, and green economic recovery of China. Financing efforts to protect against and reduce the hazards associated with climate change need to consider these risks and resources. Study used the Kalman technique of analysis for empirical inference. This research focuses on the carbon risk in China by employing a Kalman estimation approach. Although environmental mitigation was found to be important at 39%, financial strength and carbon hazards were considerable at 34%. Moreover, the report demonstrates the relationship between climatic threats and environmental drift in China, at a rate of 17%, emphasizing the need to address climate change issues. A state's fiscal health guarantees national economic security while pursuing green economic recovery initiatives. Researchers concluded that precise policy suggestions were needed to promote green economic development.
Subject(s)
Carbon , Economic Development , China , Carbon Dioxide , Climate ChangeABSTRACT
In the post-COVID-19 era of green economic recovery, this paper analyses the elderly care environment of cities in the Yangtze River Delta (YRD) region and investigates the future development direction of the elderly care industry based on comparative advantages and resource endowment. Firstly, an evaluation index system of the elderly care environment is constructed, then the entropy weight method is used to calculate the weight, and finally the comprehensive evaluation index of the elderly care environment in each city is obtained by weighted calculation. The development directions of the elderly care industry for each city in the YRD region are proposed based on the results. The study shows that the suitable development direction of the elderly care industry differs among cities. Cities suitable for residential elderly care are mainly distributed in the central and western regions, cities fit for the leisure and tourism of elderly care are mainly located in the southeast, and cities suitable for the treatment and rehabilitation of elderly care are mainly provincial capitals and cities with better economic development levels. Additionally, Wenzhou City in Zhejiang Province is eligible for the development of a comprehensive elderly care industry. © 2023, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
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The COVID-19 outbreak significantly affected the global economy and energy markets. To mitigate the shock, maintain financial market stability, and encourage economic recovery, this study investigates the influence of post-COVID-19 on monetary policy transmission to business practices and financial market indicators for green economic recovery. We utilised 37 Asian markets' panel data from 1 January 2020, through 30 December 2020. The empirical findings demonstrate that the pandemic's emergence impeded monetary policy transmission, business practices, and financial markets. Our empirical contribution is to examine the size, sectoral allocation, and implementation options of three leading countries' (China, Japan, and Thailand) green recovery spending plans, which range significantly. However, this effect mainly affects the medium-and-long-term effects, and short-term spillover effects are primarily unaffected by Asian monetary policy uncertainty. Our findings have significant implications for green economic recovery among market players and regulators in the Asian market.
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In this paper, the critical success factors of sustainable education on the recovery of green energy resources in three countries, China, Japan, and India, were studied using a survey, hierarchical analysis, and TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) methods. The research findings showed that in China, the most crucial success factors of sustainable education to have green energy recovery are green culture in society, international cooperation in teaching sustainable courses, and learner's attitude. In Japan, the success factors of sustainable education are different. According to experts, the learner's attitude, the presence of green culture in the society, and the support of government institutions related to the environment for this education are three essential success factors for sustainable development education. In India, the presence of green culture in the society, the support of government institutions related to the environment, and the teacher's attitude are the most critical success factors of sustainable education policy. The primary practical policies recommended by this research are promoting international cooperation, using electronic education capacities, and increasing green awareness through the media and social networks.
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Countries around the world are facing enormous challenges in their economic and social development as COVID-19 continues to spread, resulting in slower economic recovery in the post-pandemic era. Considering the impact of economic growth on future sustainable development in this new era, green economic recovery (GER) can achieve a win-win situation between economic recovery and environmental improvement and bring forth environmentally sustainable economic growth. This research first lists related COVID-19 literature surveys and GER policies in the post-pandemic era in China. Based on a comparative study of the international experience of GER policy practices, this paper then analyzes the opportunities and challenges China faces for GER and puts forward countermeasures and suggestions on how to promote its sustainable development in the post-epidemic era. We believe our research presents useful enlightenments for sustainable economic and social development in the post-epidemic era. © 2022 ERP Environment and John Wiley & Sons Ltd.
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After the COVID-19 outbreak, this study examines the influence of modifications in China's Sustainable Growth Goals (SDGs) and economic development goals on Chinese enterprises' energy conservation and emissions reduction behavior. Meanwhile, the COVID-19 epidemic has erupted, displacing the flimsy traditional techniques. As a result, the post-COVID-19 pandemic emphasizes the need for a long-term sustainable development method compatible with the local and regional environmental systems. The main objective of this study is used as a roadmap to steer the post-COVID-19 pandemic on a sustainable green path by emphasizing sustainable energy strategies to connect in SDG-related efforts. The investigation in this paper begins with examining significant impacts in the energy industry and their impact on progress toward sustainability. The empirical findings that the CO2 emissions reduction objectives in long-term development plans had a considerable impact on energy saving and emissions reduction, lowering energy consumption intensity by 3.33% and carbon emission intensity by 4.23% between 2010 and 2019. Besides, the results and long and short run techniques are built to describe the Sustainable Development Goals interface, with the result revealing that Sustainable Development Goals enhance the green economic recovery performance. Furthermore, this study recommends that the key natural resources and green economic recovery policies to overcome the climate change impacts by COVID-19 pandemic.
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Countries around the world are facing enormous challenges in their economic and social development as COVID-19 continues to spread, resulting in slower economic recovery in the post-pandemic era. Considering the impact of economic growth on future sustainable development in this new era, green economic recovery (GER) can achieve a win-win situation between economic recovery and environmental improvement and bring forth environmentally sustainable economic growth. This research first lists related COVID-19 literature surveys and GER policies in the post-pandemic era in China. Based on a comparative study of the international experience of GER policy practices, this paper then analyzes the opportunities and challenges China faces for GER and puts forward countermeasures and suggestions on how to promote its sustainable development in the post-epidemic era. We believe our research presents useful enlightenments for sustainable economic and social development in the post-epidemic era.
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Regional attempts to reduce pollution levels emerging from the European Union (EU) relative to 2010 are contrasted with unique policies of individual member countries' aims to achieve a 10% reduction per country. Given this scenario, this research expands on the topic by developing a novel framework that links macroeconomic policies, total national expenditure per person, traditional energy use, renewable energy use, and CO2 emissions levels in EU countries from 1990 to 2016. The study utilizes the second generation cross-sectional-autoregressive-distributed lag (CS-ARDL) panel data method. According to the study's findings, the monetary instruments of growth exacerbated the adverse effects of CO2 emissions, and by tightening monetary policy, the harmful effects of CO2 emissions levels have been reduced. Further, the Granger causality test indicates a bidirectional causality between monetary policy and CO2 emissions levels, and unidirectional causality from the policy assessment for energy use. The finding confirms that the assessment policy recommendations on energy consumption have future effects on ecological value.
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China is now facing the double pressure of economic downturn brought by COVID-19 and low-carbon transition. The trade-off between short-term economic recovery and long-term green development makes it necessary to design the economic recovery policies under multiple objectives. This paper constructs a new Keynesian dynamic stochastic general equilibrium model, and analyses the process from the outbreak of the COVID-19 epidemic to its economic impact and then to government intervention. The results show that 1) the short-term economic recovery effects of all three economic stimulus policies are remarkable. Under the green economic stimulus policy, GDP grew by 3.3%, 5.3% and 6% in the second, third and fourth quarter of 2020. 2) the green economic stimulus policy reduced economic fluctuations, thus acting as an automatic stabilizer and contributing to a stable economic recovery. 3) in the long run, the green economic stimulus policy is conducive to achieving a green transition of the economy, and avoiding a high carbon lock-in effect in the future. More importantly, it is the preferred path to achieve the 2060 carbon neutrality target. We estimate that each 1 CNY increase in green investment will reduce future abatement costs by 1.5~2.6 CNY. © 2022, Editorial Board of Journal of Systems Engineering Society of China. All right reserved.
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As lockdown eases, economic activities resume in Pakistan. If the country continues to follow business-as-usual (BAU) then it is anticipated that carbon output could surge past pre-COVID-19 levels - that means more disasters in future. Thus, it is an unprecedented opportunity to shift from BAU and achieve carbon-neutral and nature-positive economic recovery - green economic recovery (GER). To fuel the GER, access to modern, equitable, affordable and sustainable energy is paramount. This study explores waste-to-energy (WtE) as an alternative green fuel for GER. Seven WtE technologies are prioritized based on the concept of energy trilemma - energy security, energy equity, and environmental sustainability. For the evaluation, an energy trilemma based decision support framework is developed using most prominent multi-criteria decision-making (MCDM) methods. The fuzzy set theory is integrated with MCDM methods to minimize uncertainty in results. Sixteen experts are engaged to score each WtE technology with respect to every energy trilemma dimension and sub-dimension. Gasification technology is found to be the most feasible option for WtE generation in Pakistan whereas Torrefaction technology is least favorable. It is concluded that the need to shift towards sustainable energy is more than ever to limit the carbon emission and prevent future crisis.
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We offer preliminary evidence drawing on a novel dataset of corporate bonds issued in the European energy sector since January 2020 in combination with the European Central Bank's (ECB) purchases under the Pandemic Emergency Purchase Programme (PEPP) in response to COVID-19. We show that the likelihood of a European energy company bond to be bought as part of the ECB's programme increases with the greenhouse gas (GHG) intensity of the bond issuing firm. We also find weaker evidence that the ECB's PEPP portfolio during the pandemic is likely to become tilted towards companies with anti-climate lobbying activities and companies with less transparent GHG emissions disclosure. Our findings imply that, at later stages of the COVID-19 recovery, an in-depth analysis may be necessary to understand if, and if yes why, the ECB fuelled the climate crisis.