Evaluating financial implications of renewable energy for climate action and sustainable development goals

Yasir Ahmed Solangi and Cosimo Magazzino

Renewable and Sustainable Energy Reviews, 2025, vol. 212, issue C

Abstract: The global issue is the urgent need to shift to renewable energy sources to mitigate climate change and sustainable development. China, as the world's largest greenhouse gas emitter, is under increasing pressure to transition to renewable energy sources to meet global climate targets, including its commitment to peak carbon emissions by 2030 and achieve carbon neutrality by 2060. This shift is necessary to achieve Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and clean energy) and SDG 13 (Climate action). Adopting renewable energy presents a number of significant challenges. Therefore, assessing the financial impact of renewable energy adoption is essential for driving climate action and achieving SDGs. This study identified six criteria, twenty-four sub-criteria, and six financial policy strategies for renewable energy development. This study employs fuzzy-based multi-criteria decision-making methods, specifically the Analytical Hierarchy Process (AHP) and VIekriterijumsko KOmpromisno Rangiranje (VIKOR), to analyze and prioritize key criteria and policy strategies in addressing the financial complexities of China's renewable energy transition. The findings of fuzzy AHP highlight financial risk, social benefits, and economic viability as crucial criteria in evaluating the financial implications of renewable energy adoption in China. Besides, the results of fuzzy VIKOR indicate that subsidies and grants, green finance initiatives, and public-private partnerships are the most significant financial policy strategies. This research provides direction for policymakers, investors, and industry stakeholders aiming to align financial sustainability to ensure a sustainable and resilient energy future.

Keywords: Renewable energy; Financial impact; Policy strategies; Sustainable development goals; Climate action; Fuzzy methods (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1364032125000632
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:rensus:v:212:y:2025:i:c:s1364032125000632

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/bibliographic
http://www.elsevier. ... 600126/bibliographic

DOI: 10.1016/j.rser.2025.115390

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Catherine Liu ().