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Study of the role of social prosperity on private investment in fossil fuels transition in the post COP28 era

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  • Dou, Jin
  • Wang, Zhuo
  • Zhang, Yuan

Abstract

This study explores how social prosperity influences private investment in energy transition projects in China from 1990 to 2021. It finds that social prosperity is crucial for stimulating private investment in renewable energy, with both short-term and long-term effects. Specifically, a 1% rise in the Social Prosperity Composite Index is linked to increased investment in renewable energy. The study also highlights the key role of small and medium-sized enterprises (SMEs) in driving such investments. Additionally, it emphasizes that trade expansion significantly boosts private investment in renewable energy, underscoring the importance of international cooperation and robust policy frameworks for a greener future. To further advance the transition from fossil fuels and promote sustainability, the study recommends practical policies aimed at improving social prosperity, enhancing ICT sustainability, alleviating poverty, raising social sustainability awareness, and incentivizing private sector involvement in green projects.

Suggested Citation

  • Dou, Jin & Wang, Zhuo & Zhang, Yuan, 2024. "Study of the role of social prosperity on private investment in fossil fuels transition in the post COP28 era," Resources Policy, Elsevier, vol. 97(C).
    • Handle: RePEc:eee:jrpoli:v:97:y:2024:i:c:s0301420724006135
    DOI: 10.1016/j.resourpol.2024.105246
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    References listed on IDEAS

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    More about this item

    Keywords

    Privatization of fossil fuels transition progress; social prosperity; private capital; China; ARDL time series analysis;
    All these keywords.

    JEL classification:

    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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