Role of green finance in enhancing the sustainability in the mining sector in Asia

Mingbin Chu, Bingwei Li, Weiyu Gu and Xiajing Dai

Resources Policy, 2024, vol. 88, issue C

Abstract: This study delves into the influence of green finance on the mining sector across 12 Asian economies, examining data from 2000 to 2022. Employing the CUP-FM (continuously updated full modified) approach, we uncover a significant correlation: a 1% increase in the green finance market size is associated with a reduction in CO2 emissions from mining. This implies that a larger green finance market fosters sustainable investments and cleaner mining technologies, thereby decreasing the carbon footprint. Additionally, the growth of urban populations is linked to a 0.14% increase in CO2 emissions from mining, underscoring the imperative of sustainable urban development. Moreover, the development of information and communication technology (ICT) shows promise, correlating with a 0.50% reduction in CO2 emissions, highlighting the role of technology in promoting sustainability. However, GDP growth is associated with a 0.04% increase in emissions, emphasizing the challenge of balancing economic growth with environmental responsibility. To advance sustainability, Asian economies should concentrate on expanding the green finance market, enhancing digitalization, employing AI for efficient green financial tools, and promoting green power generation in urban areas.

Keywords: Sustainable mining sector; Green finance; CO2 emissions; Sustainable projects; Asia (search for similar items in EconPapers)
JEL-codes: C33 G18 O53 Q32 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301420723011844
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:88:y:2024:i:c:s0301420723011844

DOI: 10.1016/j.resourpol.2023.104473

Access Statistics for this article

Resources Policy is currently edited by R. G. Eggert

More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().