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Cleaning Russian oil industry for energy resource exploration and industrial transformation towards zero carbon green recovery: Role of inclusive digital finance

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  • Chen, Yuanhan

Abstract

This study is inspired by the pressing need to deal with environmental problems inherent to Russia's oil sector and simultaneously encourage progress toward a zero-carbon green recovery. The current relevance of this work is highlighted by using the present perfect tense. Russia is crucial to fighting climate change and fostering sustainable development as a significant energy market player. Therefore, this study examines how inclusive digital finance has helped Russia's oil sector grow. It seeks to determine how broad digital banking, fintech, and electronic payment systems may assist the Russian oil business in becoming more sustainable. An empirical analysis of secondary data will determine whether digital financial tools have promoted eco-friendly operations, reduced carbon emissions, and improved environmental performance. By examining digital financial activities, the research hopes to help the Russian oil industry balance economic development and environmental sustainability. This study reaffirms the importance of inclusive digital finance as a driving force in transforming the Russian oil sector, reducing its negative environmental impact, and setting it on a course that aligns with the zero-carbon green recovery imperative. A study found that inclusive digital financing measures in the Russian oil sector may expedite its zero-carbon, green recovery and enable sustainable energy resource development. This policy change will reduce environmental impact and boost sector development and innovation.

Suggested Citation

  • Chen, Yuanhan, 2024. "Cleaning Russian oil industry for energy resource exploration and industrial transformation towards zero carbon green recovery: Role of inclusive digital finance," Resources Policy, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:jrpoli:v:88:y:2024:i:c:s0301420723011479
    DOI: 10.1016/j.resourpol.2023.104436
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