Evaluating green financing mechanisms for natural resource management: Implications for achieving sustainable development goals

Yijia Dai and Xuanyuan Chen

Resources Policy, 2023, vol. 86, issue PB

Abstract: China has made noteworthy strides in achieving the Sustainable Development Goals (SDGs), including natural resource management. The country’s economic expansion has put more strain on its natural resources during Covid-19 pandemic, which has contributed to environmental deterioration, the extinction of species, and climate change. Consequently, green finance can create new opportunities for assisting natural resource management practices that support environmental, social, and economic sustainability. In order to realize the SDGs, this study employs a hybrid Fuzzy Multi-Criteria Decision Making (MCDM) approach based on the Analytical Hierarchy Process (AHP) and Visekriterijumska Optimizacija i Kompromisno Resenje (VIKOR) to assess and prioritize important criteria, sub-criteria, and green financing mechanisms for natural resource management in China. Therefore, this study identified six criteria, eighteen sub-criteria, and six green financing strategies for promoting sustainable development and natural resource management methods in China. According to the Fuzzy AHP findings, financial sustainability (0.192), institutional feasibility (0.176), and environmental impact (0.171) are the most crucial criteria. While, the Fuzzy VIKOR findings reveal that carbon markets, green bonds, and green investment funds are the best financial solutions for reaching sustainable development and effective resource management practices in China. This research enables policymakers, investors, and other stakeholders improve sustainable development and natural resource management in China.

Keywords: Natural resource management; Green finance; Sustainable development; Environmental sustainability; MCDM (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:86:y:2023:i:pb:s0301420723008711

DOI: 10.1016/j.resourpol.2023.104160

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