Renewable Energy Transition for Sustainable Economic Development: Implications for Green Recovery in the Post COVID-19 Era

Ahmed Hunjra (), Mahnoor Hanif, Dilvin Taşkın and Qasim Zureigat

Chapter 15 in Green Finance and Sustainable Development Goals, 2024, pp 409-433 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The COVID-19 pandemic has posed considerable difficulties for the shift to clean energy sources. COVID-19’s potential impact on the global energy transition has received scant scholarly attention so far. This research aims to explore the impact of renewable energy consumption and renewable power generation on sustainable economic development in developing countries. We use a panel dataset for developing countries for the period 2000–2021. The fixed effect model (FEM) is used for hypothesis testing, while the system generalized method of moments (SYS-GMM) is employed to confirm the robustness of the results. We found that renewable energy generation and energy consumption have a considerable positive impact on sustainable development in developing countries and confirmed the feedback hypothesis. This research offers a thorough empirical examination of the relationship between renewable energy consumption and sustainable development in developing countries and recommends a post-pandemic roadmap for a low-carbon energy transition in developing economies.

Keywords: Green Finance; Financial Development; ESG Performance; Climate Change; Climate-Vulnerable Asian Countries; Environmental Disclosure in Financial Institutions; Environmental; Social; and Governance Issues in Corporate Valuation; Financing Renewable Energy; Gross Ecosystem Product; Green Banking Disclosures; Climate-Related Risks; Green Banking Disclosures; Development and Impact Analysis (search for similar items in EconPapers)
JEL-codes: Q01 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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