{"title":"COP28 targets for mobilizing private investment in fossil fuels extraction industry to cope with the climate change","authors":"Gang Zhou , Gwonsoo Bahn , Jian Lao , Yuan Zhang","doi":"10.1016/j.resourpol.2024.105285","DOIUrl":null,"url":null,"abstract":"<div><p>This study analyzes data from the Sovereign ESG Data Portal to assess how macroeconomic factors influence ESG (Environmental, Social, and Governance) investments in the fossil fuels extraction sector across G7 countries from 2005 to 2022. Using the PMG-ARDL technique, findings reveal that a 1% rise in income inequality leads to a 0.14% decrease in ESG investment in the short term and 0.43% in the long term. Conversely, a 1% increase in household spending on education results in a 0.12% short-term and 0.16% long-term boost in ESG investment. Economic growth does not significantly affect ESG investment, likely due to the sector's profit-driven nature. Additionally, a 1% increase in industry value decreases ESG investment, while better governance practices enhance it. The study suggests that policies focusing on improving governance, reducing inequality, and increasing education spending are crucial for promoting sustainable investments.</p></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"97 ","pages":"Article 105285"},"PeriodicalIF":10.2000,"publicationDate":"2024-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Resources Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0301420724006524","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"0","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
This study analyzes data from the Sovereign ESG Data Portal to assess how macroeconomic factors influence ESG (Environmental, Social, and Governance) investments in the fossil fuels extraction sector across G7 countries from 2005 to 2022. Using the PMG-ARDL technique, findings reveal that a 1% rise in income inequality leads to a 0.14% decrease in ESG investment in the short term and 0.43% in the long term. Conversely, a 1% increase in household spending on education results in a 0.12% short-term and 0.16% long-term boost in ESG investment. Economic growth does not significantly affect ESG investment, likely due to the sector's profit-driven nature. Additionally, a 1% increase in industry value decreases ESG investment, while better governance practices enhance it. The study suggests that policies focusing on improving governance, reducing inequality, and increasing education spending are crucial for promoting sustainable investments.
期刊介绍：
Resources Policy is an international journal focused on the economics and policy aspects of mineral and fossil fuel extraction, production, and utilization. It targets individuals in academia, government, and industry. The journal seeks original research submissions analyzing public policy, economics, social science, geography, and finance in the fields of mining, non-fuel minerals, energy minerals, fossil fuels, and metals. Mineral economics topics covered include mineral market analysis, price analysis, project evaluation, mining and sustainable development, mineral resource rents, resource curse, mineral wealth and corruption, mineral taxation and regulation, strategic minerals and their supply, and the impact of mineral development on local communities and indigenous populations. The journal specifically excludes papers with agriculture, forestry, or fisheries as their primary focus.
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