Environmental economics of green recovery in mineral extraction: Balancing production and conservation

Hong Peng, Hailin Chen, Yong Sun, Xiaofeng Zhang and M. Abubakar

Resources Policy, 2024, vol. 96, issue C

Abstract: This study examines data from 1995 to 2021 using self-regressive distribution lag modeling to uncover how mineral wealth utilization influences sustainable development in select Central Asian countries. Our findings highlight a critical challenge: increased mineral asset mining significantly hampers the region's ecological growth, both immediately and over time, due to its detrimental environmental impacts. However, there is a beacon of hope: a 1% increase in hydropower output can elevate the sustainability score by 0.19% in the long term and 0.10% in the short term, showcasing the transformative potential of renewable energy. On the flip side, escalating carbon dioxide emissions pose a serious threat, stalling green financial development through ecological harm and higher healthcare costs. Furthermore, urbanization slightly diminishes the long-term sustainability score by 0.06%. This gives a clear confirmation of the necessity of Central Asian countries to embrace the renovation of the state's vectors for conformism towards the idea of ecological sustainability. The necessary legislative measures, the development of renewable power sources, making natural resources trading more effective and integrating eco-friendly finance to support green projects will help the region chart its course toward a sustainable and prosperous development.

Keywords: Environmental economics; Legislative suggestions; Mineral extraction; Natural resources; Renewable energy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:96:y:2024:i:c:s0301420724005695

DOI: 10.1016/j.resourpol.2024.105202

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