Abstract
Speedy economy-wide transition to less carbon-intensive energy generations sources needs extra sizable financing on ground-breaking, nevertheless, risky and less carbon-intensive generation sources. Maximizing the maximum non-government financing needs using the appropriate policy tools, however, fiscal strategies and directives have been thoroughly studied, systematic quantifiable indications about the impacts of government explicit financing is inadequate. We equally give an initial measurable calculation of the impact of government explicit financing on non-government financing into conventional electricity generation sources for 22 OECD nations in the year 2001–2018. Applying FGLS and non-dynamic and non-static GMM regressors, we discover that government financing unilaterally has an explicit and nevertheless reliably the most impacts on non-government financing movements compared to feed-in tariffs (FiTs), taxes, and renewable purchase obligations (RPS) in all and regarding wind and solar sources differently. Ramifications for policy geared towards fast-tracking the energy transition are deliberated. We highlighted those important dedications to scale-up wind and solar energy demands organized by financiers such as asset funding. Furthermore, to arrive at the energy crossover to a carbon-free power system, government and non-government financiers have to continue financing and expand their activities in financing studies, demonstration, and initial scale-up. We reveal that the delivery of government finance is directly correlated with non-government funding movements. Furthermore, we postulate that government policy incentives for non-government financing, nevertheless, have impacts of unconventional energy sources share on non-government financing more than those of FiTs. Ultimately, the supply of conventional fuels is a significant impediment to solar energy financing, while the existence of other sources of cleaner energies promotes non-government climate finance.
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06 July 2024
This article has been retracted. Please see the Retraction Notice for more detail: https://doi.org/10.1007/s11356-024-34317-3
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Hua Huang: conceptualization, data curation, methodology, writing—original draft, data curation, visualization, supervision. Ka Yin Chau: visualization, editing. Wasim Iqbal: review and editing. Arooj Fatima: writing—review and editing and software
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Huang, H., Chau, K.Y., Iqbal, W. et al. RETRACTED ARTICLE: Assessing the role of financing in sustainable business environment. Environ Sci Pollut Res 29, 7889–7906 (2022). https://doi.org/10.1007/s11356-021-16118-0
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DOI: https://doi.org/10.1007/s11356-021-16118-0