Greenhouse Gas Emissions and the Rising Effects of Renewable Energy Consumption and Climate Risk Development Finance: Evidence from BRICS Countries

IF 2 0 ECONOMICS

Annals of Financial Economics Pub Date : 2023-07-25 DOI:10.1142/s2010495223500070

B. Chang, P. A. M. Auxilia, Akash Kalra, Wing-Keung Wong, Mohammed Ahmar Uddin

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Abstract

In recent decades, the surge in greenhouse gas emissions has given rise to an increase in climate risk-related development finance. This research delves into the effect of renewable energy and climate risk-related development finance on greenhouse gas emissions in the BRICS region. Panel regression estimates were employed to uncover several noteworthy findings. Firstly, a slight yet significant surge in greenhouse gas emissions resulted from increased climate risk-related development finance. Secondly, augmented climate risk-related mitigation finance corresponded with a noteworthy upsurge in renewable energy usage. Thirdly, greater renewable energy consumption resulted in a considerable reduction in greenhouse gas emissions. Lastly, amplified renewable energy consumption alleviated the impact of climate risk-related mitigation finance on greenhouse gas emissions. These findings emphasize the necessity of efficiently utilizing climate finance in generating renewable energies like wind, biomass, geothermal, hydroelectric and solar energies. Additionally, it is recommended that benefactor nations and officials ensure a regular and uninterrupted flow of climate risk-related development mitigation finance to emerging nations.

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温室气体排放、可再生能源消费和气候风险发展融资的上升效应:来自金砖国家的证据

近几十年来，温室气体排放的激增导致与气候风险相关的发展融资增加。本研究探讨了可再生能源和气候风险相关发展融资对金砖国家地区温室气体排放的影响。采用面板回归估计来揭示几个值得注意的发现。首先，与气候风险相关的发展融资增加导致温室气体排放量小幅但显著上升。第二，与气候风险相关的缓解资金的增加与可再生能源使用的显著增加相对应。第三，可再生能源消费的增加导致温室气体排放大幅减少。最后，可再生能源消费的扩大缓解了与气候风险相关的缓解融资对温室气体排放的影响。这些发现强调了在风能、生物质能、地热能、水力发电和太阳能等可再生能源的生产中有效利用气候融资的必要性。此外，建议捐助国和官员确保定期和不间断地向新兴国家提供与气候风险有关的减缓发展资金。

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

Annals of Financial Economics ECONOMICS-

CiteScore

6.60

自引率

55.00%

发文量