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The windfall of green finance: Advancing environmental sustainability through wind energy

Author

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  • Wang, Mingsen
  • Zhong, Daojun
  • Ali, Sajid
  • Meo, Muhammad Saeed

Abstract

Green finance plays a pivotal part in driving sustainable wind energy projects by facilitating the expansion and development of wind energy infrastructure. It reduces reliance on fossil fuels and mitigates climate change by providing funding mechanisms that prioritize eco-conscious and socially accountable investments. The existing investigation checks the nonlinear effect of green finance on wind energy in the top 10 wind energy producer economies (USA, China, France, Spain, Germany, Brazil, Canada, UK, India, and Turkey). The prior works have implemented panel data tools to study the bond between green finance and wind energy. However, it is frequently needed to account for the divergences in this relationship among various economies. Conversely, the existing investigation employs a unique instrument, 'Quantile-on-Quantile', to scrutinize the relationship on an economy-particular level. This approach provides a holistic worldwide view while also providing customized perceptions that are specific to each country. The findings intimate that green finance contributes to the growth of wind energy across various data quantiles in the selected economies. Likewise, the outcomes emphasize that our variables' asymmetries vary from country to country. These insights emphasize policymakers' need to manage strategies interrelated to green finance and wind energy generation thoroughly.

Suggested Citation

  • Wang, Mingsen & Zhong, Daojun & Ali, Sajid & Meo, Muhammad Saeed, 2024. "The windfall of green finance: Advancing environmental sustainability through wind energy," Renewable Energy, Elsevier, vol. 227(C).
    • Handle: RePEc:eee:renene:v:227:y:2024:i:c:s0960148124006517
    DOI: 10.1016/j.renene.2024.120583
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