How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?
Climate change is one of the most serious threats facing the world today. Environmental pollution and depletion of natural resources have been highlighted by the United Nations Sustainable Development Goals (SDGs), paving the way for modern concepts such as sustainable growth to be introduced. There...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2022-05-01
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| Series: | Frontiers in Psychology |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fpsyg.2022.879741/full |
| _version_ | 1828533195061067776 |
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| author | Zhen Fang Can Yang Xiaowei Song |
| author_facet | Zhen Fang Can Yang Xiaowei Song |
| author_sort | Zhen Fang |
| collection | DOAJ |
| description | Climate change is one of the most serious threats facing the world today. Environmental pollution and depletion of natural resources have been highlighted by the United Nations Sustainable Development Goals (SDGs), paving the way for modern concepts such as sustainable growth to be introduced. Therefore, this research explores the relationship between green finance, energy efficiency, and CO2 emissions in the G7 countries. The study uses panel data model technique to examine the dependence structure of green finance, energy efficiency, and CO2 emissions. Moreover, we use DEA to construct an energy efficiency index of G7 countries. A specific interval exists between the values of the energy efficiency indexes. Japan, the United Kingdom, and the United States were named the most energy-efficient countries in the world, based on results obtained for five consecutive years in this category. However, according to the comparative rankings, France and Italy are the most successful of all the G7 members, followed by the United Kingdom and Germany. Our overall findings of the econometric model confirm the negative impact of green finance and energy efficiency on CO2 emissions; however, this relationship varies across the different quantiles of the two variables. The findings in the study confirm that green finance is the best financial strategy for reducing CO2 emissions. |
| first_indexed | 2024-12-11T23:05:34Z |
| format | Article |
| id | doaj.art-e24383f7dc4347a5897d23a9e1cc1f8b |
| institution | Directory Open Access Journal |
| issn | 1664-1078 |
| language | English |
| last_indexed | 2024-12-11T23:05:34Z |
| publishDate | 2022-05-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Psychology |
| spelling | doaj.art-e24383f7dc4347a5897d23a9e1cc1f8b2022-12-22T00:46:56ZengFrontiers Media S.A.Frontiers in Psychology1664-10782022-05-011310.3389/fpsyg.2022.879741879741How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?Zhen Fang0Can Yang1Xiaowei Song2School of Management, Ocean University of China, Qingdao, ChinaSINOTRUK Finance Co., Ltd., Jinan, ChinaSchool of Management, Ocean University of China, Qingdao, ChinaClimate change is one of the most serious threats facing the world today. Environmental pollution and depletion of natural resources have been highlighted by the United Nations Sustainable Development Goals (SDGs), paving the way for modern concepts such as sustainable growth to be introduced. Therefore, this research explores the relationship between green finance, energy efficiency, and CO2 emissions in the G7 countries. The study uses panel data model technique to examine the dependence structure of green finance, energy efficiency, and CO2 emissions. Moreover, we use DEA to construct an energy efficiency index of G7 countries. A specific interval exists between the values of the energy efficiency indexes. Japan, the United Kingdom, and the United States were named the most energy-efficient countries in the world, based on results obtained for five consecutive years in this category. However, according to the comparative rankings, France and Italy are the most successful of all the G7 members, followed by the United Kingdom and Germany. Our overall findings of the econometric model confirm the negative impact of green finance and energy efficiency on CO2 emissions; however, this relationship varies across the different quantiles of the two variables. The findings in the study confirm that green finance is the best financial strategy for reducing CO2 emissions.https://www.frontiersin.org/articles/10.3389/fpsyg.2022.879741/fullenergy conversionenergy efficiencygreen financeenvironment protectionfinancing efficiency |
| spellingShingle | Zhen Fang Can Yang Xiaowei Song How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? Frontiers in Psychology energy conversion energy efficiency green finance environment protection financing efficiency |
| title | How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? |
| title_full | How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? |
| title_fullStr | How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? |
| title_full_unstemmed | How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? |
| title_short | How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries? |
| title_sort | how do green finance and energy efficiency mitigate carbon emissions without reducing economic growth in g7 countries |
| topic | energy conversion energy efficiency green finance environment protection financing efficiency |
| url | https://www.frontiersin.org/articles/10.3389/fpsyg.2022.879741/full |
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