Impact of Green Finance on Environmentally Sustainable Development Goals

Abstract

In this context, climate change represents a real phenomenon with significant implications for economies, industries, and societies worldwide. In the context of the Regional Comprehensive Economic Partnership (RCEP) agreement, these implications are significant, given that the countries in question cumulatively account for a considerable share of global emissions, energy consumption, and industrial production. As these countries aim for a carbon-neutral future and continue the path toward the achievement of the Sustainable Development Goals (SDGs) set for 2030, the question for these countries, therefore, is not whether they should act but how they can act in a sustainable manner toward a cleaner future for themselves and for the world. In this context, this study seeks to understand the determinants that can help these countries achieve a sustainable future for themselves and the world at large. In this context, the role of green finance, research and development expenditure, renewable energy, energy efficiency, and green technology innovation in the context of carbon emissions and the achievement of SDG 7, 8, 9, 12, and 13 from 2016 to 2023 will be specifically analysed, keeping in mind the established theories of economics and environment, which suggest that economic growth can be a pressure on the environment, and innovation and financial systems can be a solution for these problems as well.