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

In: Green Finance and Sustainable Development Goals

Author

Listed:
  • Ahmed Imran Hunjra
  • Mahnoor Hanif
  • Dilvin Taşkın
  • Qasim Zureigat

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.

Suggested Citation

  • Ahmed Imran Hunjra & Mahnoor Hanif & Dilvin Taşkın & Qasim Zureigat, 2024. "Renewable Energy Transition for Sustainable Economic Development: Implications for Green Recovery in the Post COVID-19 Era," World Scientific Book Chapters, in: Sabri Boubaker & Thai-Ha Le (ed.), Green Finance and Sustainable Development Goals, chapter 15, pages 409-433, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800614482_0015
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    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;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • 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
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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