RETRACTED ARTICLE: Dynamics of renewable energy index in G20 countries: influence of green financing

The research intends to investigate the green financing trends movement with renewable energy dependence of G-20 economies. The data envelopment analysis (DEA) technique explains research results and illustrates current topicality. The Wald econometric method is utilized for robustness analysis, and...

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Bibliographic Details
Published inEnvironmental science and pollution research international Vol. 30; no. 23; pp. 63811 - 63824
Main Author Fang, Liyun
Format Journal Article
LanguageEnglish
Published Berlin/Heidelberg Springer Berlin Heidelberg 01.05.2023
Springer Nature B.V
Subjects
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
COVID-19
Earth and Environmental Science
Ecotoxicology
Energy efficiency
Energy sources
Environment
Environmental Chemistry
Environmental Health
Renewable energy
Renewable resources
Research Article
Waste Water Technology
Water Management
Water Pollution Control
Energy dependence
DEA
COVID-19 crises
G-20 economies
Green financing
Energy efficiency
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Summary:The research intends to investigate the green financing trends movement with renewable energy dependence of G-20 economies. The data envelopment analysis (DEA) technique explains research results and illustrates current topicality. The Wald econometric method is utilized for robustness analysis, and a comparative picture of public support is provided. The research demonstrated that green financing metrics are significantly affected by public support during the COVID-19 crisis. Due to the volatility of COVID-19, public assistance funding plays an uneven role in green finance. G-20 member nations financed 17% of total green financing using public funds, which contributed 4% to GDP and achieved 16% of annual energy dependence improvement due to COVID-19 and 24% additional production from renewable energy resources. The results of this research demand maximal support by using positions in the government, ministries in charge of energy efficiency, and departments for energy efficiency improvement. Several possible policy interventions are discussed in this paper that may increase renewable energy efficiency via several alternative approaches, including on-bill financing, direct efficiency grant, guaranteed energy efficiency contracts, and credit lines for energy efficiency. If recommended policies are implemented successfully, they are expected to reduce the crisis’ impact and elevate funding for energy efficiency.
ISSN:0944-1344
1614-7499
DOI:10.1007/s11356-023-26804-w