How does Green education result in resource extraction and consumption sustainability?

Abstract

This research investigates how fossil fuel extraction and the green education index influence the generation of environmentally friendly electricity in the ASEAN region from 2005 to 2022. Key findings indicate that a 1% rise in fossil fuel extraction results in a 0.59% decline in green power generation, impeding the shift to renewable energy sources. Conversely, a 1% enhancement in the green education index correlates with a 0.32% increase in green power generation, underscoring the significance of promoting environmental awareness. Additionally, the presence of Small and Medium-sized Enterprises (SMEs) positively affects green power generation, while inward Foreign Direct Investment (FDI) exerts a negative impact, often prioritizing cost efficiency over environmentally friendly initiatives. Surprisingly, an increase in GDP does not significantly impact green power generation, indicating limited growth in green economic endeavors in the ASEAN region. The study underscores the urgent need to decrease reliance on fossil fuels and suggests a comprehensive policy approach, including cleaner extraction methods, integrated green education, digitalization, development of green financial markets, and enhanced green cryptocurrencies, to facilitate a transition towards a more sustainable and environmentally responsible economy in the region.