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<p>Green investment is to be acknowledged as a significant practical implication for enhancing a sustainable environment and economic development. The present study explores the nexus between green investment (GI), non-renewable energy sources (oil, gas, coal), carbon tax (CT), GDP, and FDI for a total of 30 OECD economies between 1990 and 2021. Econometric techniques, including the cross-sectional dependence (CSD) test, slope heterogeneity test, CIPS unit root test, Westerlund co-integration test, and Two-stage Least Squares, were employed to obtain the empirical outcomes. Based on the results, a 1% increase in green investment will reduce coal by 0.11%, gas by 10.0%, and oil by 0.06%, respectively, indicating that green investment is a source of lower carbon emissions in the OECD economies. Most interestingly, carbon tax plays a significant role in CO<sub>2</sub> emissions mitigation and efficiency, transforming the energy market to cleaner and greener consumption and production in the existence of green technological innovation. For robust tests, the robust least squares confirm and support the outcomes of the study’s basic empirical findings. The findings of the current study have significant implications as the OECD countries are anticipated to benefit from the transition of energy to renewable sources and the enhancement of environment-related taxes in the future.</p>

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Adapting through investment: green finance and carbon tax as dual pathways to climate resilience and low-carbon transition in OECD economies

  • 期刊论文

  • 发表日期：

    2026年7月21日

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  • Xie Yun

摘要

Green investment is to be acknowledged as a significant practical implication for enhancing a sustainable environment and economic development. The present study explores the nexus between green investment (GI), non-renewable energy sources (oil, gas, coal), carbon tax (CT), GDP, and FDI for a total of 30 OECD economies between 1990 and 2021. Econometric techniques, including the cross-sectional dependence (CSD) test, slope heterogeneity test, CIPS unit root test, Westerlund co-integration test, and Two-stage Least Squares, were employed to obtain the empirical outcomes. Based on the results, a 1% increase in green investment will reduce coal by 0.11%, gas by 10.0%, and oil by 0.06%, respectively, indicating that green investment is a source of lower carbon emissions in the OECD economies. Most interestingly, carbon tax plays a significant role in CO2 emissions mitigation and efficiency, transforming the energy market to cleaner and greener consumption and production in the existence of green technological innovation. For robust tests, the robust least squares confirm and support the outcomes of the study’s basic empirical findings. The findings of the current study have significant implications as the OECD countries are anticipated to benefit from the transition of energy to renewable sources and the enhancement of environment-related taxes in the future.