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

Author

Listed:
  • Cai, Ting
  • Shi, Xinchun
  • Shang, Zhaoyan
  • Zhu, Xinxin
  • Qi, Jingjing

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.

Suggested Citation

  • Cai, Ting & Shi, Xinchun & Shang, Zhaoyan & Zhu, Xinxin & Qi, Jingjing, 2024. "The role of blockchain technology in facilitating finance for metal and mining resources," Resources Policy, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:jrpoli:v:99:y:2024:i:c:s0301420724007505
    DOI: 10.1016/j.resourpol.2024.105383
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    More about this item

    Keywords

    Metal industry; Blockchain application; ESG investment; Chinese firms; CS-FMOLS technique;
    All these keywords.

    JEL classification:

    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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