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Role of Green Investment on Economic Aspects of Sustainable Development

In: Sustainability Development through Green Economics

Author

Listed:
  • Reet Kaur
  • Anita Tanwar

Abstract

Introduction:Investments in environmentally friendly initiatives can bolster infrastructure projects, agricultural methods, and water management systems that improve the ability to withstand climate-related difficulties. Green investments encompass endorsing carbon markets and financial instruments that incentivise reducing emissions. This research helps attain the climate objectives described in sustainable development goal 13 (SDG 13). Purpose:This chapter aims to investigate the relationship between greenhouse gases (GHG) and gross domestic product (GDP), with the underlying objective of understanding the relevance of green investment for sustainable development. Methodology:For the analysis, the top five countries: the USA, China, Germany, Japan, and India, were chosen based on the world’s largest economies in 2023, as per their GDP data. For testing the hypothesis, data from the World Bank database during the period 2002-2022 was retrieved and GDP is used as a dependent variable and GHG as an independent variable. For the study, panel data are used, and the Johansen cointegration test and ordinary least squares (OLS) regression are applied. Findings:In the case of China and India, the null hypothesis has been rejected, which is depicted by the significant and high degree of relation between GHGs and the GDP of these two countries. The null hypothesis is also rejected for the USA and Germany, but it shows a significant and moderate degree of relationship between GHG and GDP. For Japan, the null hypothesis is accepted and reflects a negative relationship between GHG and GDP.

Suggested Citation

  • Reet Kaur & Anita Tanwar, 2024. "Role of Green Investment on Economic Aspects of Sustainable Development," Contemporary Studies in Economic and Financial Analysis, in: Sustainability Development through Green Economics, volume 114, pages 91-106, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920240000114006
    DOI: 10.1108/S1569-375920240000114006
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    Keywords

    Green investment; green growth; sustainable development; green house gases; gross domestic product; decoupling; degrowth; A11; A12; C01; C23; C31; G21; G23; G24; O16; Q50;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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