当前位置: X-MOL 学术Bus. Strategy Environ. › 论文详情
Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)
The Impact of ESG‐Related, Financial, and Geopolitical Uncertainties on the Renewable Energy Transition in the United States
Business Strategy and the Environment ( IF 12.5 ) Pub Date : 2025-06-02 , DOI: 10.1002/bse.70004
Oktay Özkan, Mustafa Naimoğlu, Mehmet Metin Dam

The transition to renewable energy sources is imperative for sustainable economic growth (GDP) and environmental resilience. The present study examines the impact of economic policy uncertainty (EPU), geopolitical risk (GPR), financial market uncertainty (FMU), GDP, trade openness (TRA), and environmental, social, and governance‐related uncertainty (ESGU) on renewable energy transition (RET) in the United States from 2002 to 2023. The utilization of nonlinear approaches, namely, kernel‐based regularized least squares (KRLS), and Rényi‐based effective transfer entropy (RETE), facilitates the revelation of heterogeneous relationships and causal influences among these factors. The empirical findings reveal that ESGU, FMU, EPU, GPR, and TRA variables have positive and significant effects on the transition to renewable energy, whereas GDP has a negative and significant effect on the transition, especially according to the RETE analysis that takes into account outliers and nonlinear interactions. On the other hand, average marginal effect (AME) results assessing the conditional mean effects reveal that ESGU and FMU have negative and significant effects on the transition to renewable energy, whereas EPU, GPR, GDP, and TRA variables have positive and significant effects on the transition. These findings highlight the importance of reducing market uncertainty and fostering stable policy environments to accelerate the RET. Our study contributes to literature by employing advanced nonlinear methodologies, offering a nuanced understanding of the dynamic interactions influencing renewable energy adoption. Policy recommendations include enhancing regulatory stability, promoting sustainable investments, and taking financial and GPR into account to facilitate a smoother transition toward a greener economy.

中文翻译:

ESG 相关、财务和地缘政治不确定性对美国可再生能源转型的影响

向可再生能源的过渡对于可持续经济增长 (GDP) 和环境韧性至关重要。本研究研究了经济政策不确定性 (EPU)、地缘政治风险 (GPR)、金融市场不确定性 (FMU)、GDP、贸易开放度 (TRA) 以及环境、社会和治理相关不确定性 (ESGU) 对 2002 年至 2023 年美国可再生能源转型 (RET) 的影响。非线性方法的利用,即基于核的正则化最小二乘法 (KRLS) 和基于 Rényi 的有效传递熵 (RETE),有助于揭示这些因素之间的异质关系和因果影响。实证研究结果表明,ESGU、FMU、EPU、GPR 和 TRA 变量对向可再生能源的过渡具有积极和显著的影响,而 GDP 对过渡具有消极和显著的影响,特别是根据考虑异常值和非线性相互作用的 RETE 分析。另一方面,评估条件均值效应的平均边际效应 (AME) 结果表明,ESGU 和 FMU 对向可再生能源的过渡具有负向和显著的影响,而 EPU、GPR、GDP 和 TRA 变量对过渡具有积极和显著的影响。这些发现凸显了减少市场不确定性和营造稳定的政策环境以加速 RET 的重要性。我们的研究通过采用先进的非线性方法为文献做出贡献,提供了对影响可再生能源采用的动态相互作用的细致入微的理解。 政策建议包括加强监管稳定性、促进可持续投资以及考虑金融和 GPR,以促进更平稳地过渡到更绿色的经济。
更新日期:2025-06-02
down
wechat
bug