The Clean Development Mechanism and Corporate Financial Performance: Empirical Evidence from India

Abstract

An important factor supporting the social economy's sustainable growth is the industry's development in renewable energy. India has a sophisticated system that combines finance, resources, technology, and management to grow, expand, and modernize the renewable energy industry. Renewable energy finance is a new area of public policy that will significantly affect international investors and calls for innovation and study. Many academics held the opinion that issues with renewable energy were limited to science and engineering until recently. But rather than relying on science and technology, the future of renewable energy increasingly lies on financial accessibility. The rapidly growing renewable energy business in India presents a great opportunity for financial gain. The current paper's goal is to assess the financial performance of India's renewable energy sector using a variety of financial metrics and various ratios. The different industrial stakeholders are impacted by the financial performance of every industry. Data from the corresponding firms' annual reports was used to analyze the financial performance of renewable energy companies, and the study's findings were determined using a t-test. According to the study's findings, India's renewable energy companies are still in their infancy and are working hard to keep their steady financial positions. Keywords: Financial Performance, Renewable Energy, Financial Ratio, India, Global Environment.