ENERGY FINANCING, COVID-19 REPERCUSSIONS AND CLIMATE CHANGE: IMPLICATIONS FOR EMERGING ECONOMIES

This study is intended to test the role of renewable energy financing on climate change and to present the implications for the key stakeholders towards the acquisition of post-covid-recovery in the Asian and ASEAN economies. For this, data envelopment analysis (DEA) technique is applied to draw an inference between the constructs. Study finding resulted that higher energy consumption and rise in environmental pollution has brought a great change in the ASEAN and Asian economies' climate, for which, modern and renewable energy sources are suggested to use for the climate change mitigation. A sufficient amount of funds and the supply of energy finance to mitigate the climate change are eminently needed for the post-covid-recovery. Different financial institutions, banks and finance ministries of countries belonging from the both regions are suggested to play the best role. This is solely possible by pooling the funds in renewable energy sectors to enhance energy efficiency and control the climate change. This must be executed for the long-run period to get the desired outcomes. All the countries of both regions are further suggested to expedite the practices to apply strategic development goals (SDGs) for affordable and clean energy (SDG-7), climate change action (SDG-13) to achieve the national and global strategic objectives.

Automated summary

This study examines the impact of renewable energy financing on climate change and its implications for the post-COVID-19 recovery in Asian and ASEAN economies. The findings suggest that increased energy consumption and environmental pollution have significantly affected the climate in these regions, emphasizing the need to utilize modern and renewable energy sources for climate change mitigation. Sufficient funds and energy finance are essential for addressing climate change during the post-COVID-19 recovery period. Financial institutions, banks, and finance ministries are recommended to collaborate in pooling funds in renewable energy sectors to enhance energy efficiency and control climate change. It is crucial for all countries to accelerate the implementation of strategic development goals, such as affordable and clean energy (SDG-7) and climate action (SDG-13), to achieve national and global objectives.