The role of blockchain technology in facilitating finance for metal and mining resources

Ting Cai, Xinchun Shi, Zhaoyan Shang, Xinxin Zhu and Jingjing Qi

Resources Policy, 2024, vol. 99, issue C

Abstract: As ESG investment becomes a key sustainability goal, its importance grows amid technological advancements. This study explores the effect of blockchain on ESG investments in 100 Chinese A-listed firms in the metal and mining sectors from 2016 to 2019. CS-FMOLS estimates show that a 1% rise in blockchain use increases ESG investments by 0.017%, underscoring blockchain's role in boosting transparency and efficiency. Additionally, a 1% increase in profits results in a 0.362% rise in ESG investments, and a 1% boost in EPS yields a 0.177% increase in ESG investments. Conversely, a 1% growth in personnel leads to a 0.42% decrease in ESG investment, highlighting a gap in green jobs and literacy. Changes in R&D spending have no significant effect on ESG investments. To enhance ESG investments, policies should include sustainable education, industry-specific cryptocurrencies, blockchain-based credit references, and expanded use in carbon markets.

Keywords: Metal industry; Blockchain application; ESG investment; Chinese firms; CS-FMOLS technique (search for similar items in EconPapers)
JEL-codes: G11 L25 L61 O33 Q56 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007505

DOI: 10.1016/j.resourpol.2024.105383

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