This study investigates the independent and combined effects of human capital management and financial development upon energy transition within the Saudi Arabian economy. The autoregressive distributed lag (ARDL) model is applied to analyze annual data for the period 1990-2020. The findings reveal a complex dynamic shaping the energy transition. Human capital management initially acted as a barrier to progress. However, the implementation of Vision 2030 has significantly altered this trajectory. Secondly, financial development positively influences renewable energy consumption while potentially also contributing to increased CO2 emissions. Lastly, the study highlights a synergistic relationship between effective human capital management and financial development, demonstrating that their strategic alignment accelerates the energy transition. These insights underscore the need for coordinated policies that integrate workforce development with financial mechanisms to drive sustainable Saudi Arabia's sustainable energy transformation.
Alfalih et al. (Thu,) studied this question.
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