The current study explores the impact of green energy finance on green economic growth, alongside renewable energy consumption, green technology innovation, environmental policy, and trade openness. It has used panel data for 17 emerging market economies from 2000 to 2021. The study utilizes cross-sectional Auto Regressive Distributed Lag and Feasible Generalized Least Squares modelling techniques to analyze the impact. Then, for robustness, Panel Corrected Standard Error and Wild Cluster Bootstrap have been employed. Before applying the final modelling approach, pre-estimations have been done to check cross-sectional dependency, slope heterogeneity and stationarity. The results explain that green energy finance is a significant factor and positively affects green economic growth. Furthermore, the other variables like per capita renewable energy consumption, green innovation, government effectiveness and trade openness have a positive and significant impact on green growth. This emphasises the importance of investing in clean technology sources. The study further provides implications for policymakers, society and institutions to foster the green economy in pursuit of sustainable development goals.
Abrol et al. (Sat,) studied this question.