Green finance, private investments and fossil fuels rents

IF 10.2 2区经济学 0 ENVIRONMENTAL STUDIES

Resources Policy Pub Date : 2024-11-26 DOI:10.1016/j.resourpol.2024.105415

Xiaoyu Zhang , Yanling Xi

引用次数: 0

Abstract

Private investment and green finance have significantly influenced the fossil fuel industries in various countries. This study investigates the impact of green finance and private investment on fossil fuel rents in 20 major carbon-emitting nations from 2000 to 2020. Using ARDL estimation, findings reveal that a 1% increase in green finance reduces fossil fuel rents by 0.37% in the short term and 0.40% in the long term, driven by greater investments in sustainable energy. Conversely, a 1% increase in private investment leads to a 0.17% short-term and 0.23% long-term rise in fossil fuel rents, indicating limited private green investment. To address this gap, the study recommends policies such as green bond incentives, strengthened ESG reporting, improved financial risk management, enhanced business climates, digitalization of green financial markets, and sustainable governance in the fossil fuel sector.

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绿色金融、私人投资和化石燃料租金

私人投资和绿色金融对各国的化石燃料行业产生了重大影响。本研究探讨了 2000-2020 年间绿色金融和私人投资对 20 个主要碳排放国家化石燃料租金的影响。通过使用 ARDL 估计，研究结果表明，绿色金融每增加 1%，化石燃料租金在短期内减少 0.37%，长期内减少 0.40%。相反，私人投资每增加 1%，化石燃料租金就会短期上升 0.17%，长期上升 0.23%，这表明私人绿色投资有限。为弥补这一差距，研究建议采取绿色债券激励、加强环境、社会和公司治理报告、改善金融风险管理、改善商业环境、绿色金融市场数字化以及化石燃料行业可持续治理等政策。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Resources Policy ENVIRONMENTAL STUDIES-

CiteScore

13.40

自引率

23.50%

发文量

602

审稿时长

69 days

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.