Nexus between renewable energy investment, green finance, and sustainable development: Role of industrial structure and technical innovations. (July 2023) - He, Junming
Abstract: The present study highlights the importance of renewable energy investment in achieving the goal of sustainability. Several studies have been conducted to explore the factors affecting environmental quality. However, the literature on the importance of renewable energy investment in affecting environmental quality is scant. Thus, this study investigates the impact of renewable energy investment on carbon emissions for 24 China provinces from 2005 to 2020, along with green finance, income per capita, technical innovations, and industrial structure. The co-integration test results show a stable long-run association between renewable energy investment and sustainable development with other factors. However, the results of AMG and CCE-MG estimators show the significant contribution of renewable energy investment, technical innovations, and green finance to environmental sustainability. Besides, economic development and industrial infrastructure show an adverse effect on environmental sustainability and cause to increase in carbon emissions. In addition, the moderate role of renewable energy investment in technical innovation and industrial infrastructure significantly contributes to a sustainable environment. On behalf of obtained outcomes, the current study proposes some imperative policy implications to attain the desired level of a sustainable environment. Highlights: Renewable energy and sustainable growth. Research and development, renewable energy, and sustainability. Impacts of financial development and renewable energy on socioeconomic indicators.