SDG achievement through international clean energy financing and access to clean fuel and technology

Abstract

Clean fuel and technology play a pivotal role in realizing sustainable development goals 9 and 12. Specifically, clean technology is essential for transitioning from fossil fuels to renewables, promoting sustainable development and fostering a cleaner environment. This study delves into the primary driving forces of ecological quality in India spanning from 2000Q1 to 2020Q4, encompassing international clean energy financing, access to clean fuel and technology, globalization and trade. To address the interdependence of explanatory variables and capture results across different quantiles, we employ the recently proposed multivariate quantile-on-quantile regression alongside multivariate quantile regression. Our study's outcomes reveal that international clean energy financing, access to clean fuel and technology, and globalization positively impact the load capacity factor, thereby enhancing ecological quality. Conversely, economic growth and trade exert a negative influence on the load capacity factor, resulting in a decline in ecological quality. Based on these findings, we propose policy recommendations for consideration.