Abstract
The global community has set intensive targets in Sustainable Development Goals (SDGs) to better people’s lives after closing the Millennium Development Goals (MDGs). It corresponds to the 2030 aspirations of the United Nations to enhance and promote the sustainable development of human society. The current paper explores the impact of fiscal hedging and R&D in energy Using a green-energy system in SDGs. To do this, we used TOPSIS and QARDL methodologies on a 21-year dataset of South and Southeast Asian economies from 2000 to 2020. The study results show that fiscal hedging contributes favourably to the environmental degradation of the underlying economy. Research and development (R&D) in renewables has contributed negatively to ecological degradation and SDGs in the economies of South & Southeast Asia. This study suggests policy guidelines for advanced and developing economies based on fiscal stability and technical innovation through R&D to meet SDG.
Highlights
The changing climate is escalating and impacting people through the activation of unpleasant situations such as storms, forest fires and floods
South Asian economies lead the side as India generates 217899ktoe of renewable energy source followed by 144726 of Indonesia of Southeast Asian County
This study evaluates fiscal imbalances, renewable energy Research and development (R&D), and technologies in a carbon-free energy economy for sustainable development
Summary
The changing climate is escalating and impacting people through the activation of unpleasant situations such as storms, forest fires and floods. It involves preparing to cope with the effects of climate change. If we do not minimize carbon emissions to lessen the rate of respiratory diseases, 7 million more humans will lose their lives per year. Extinction-threatened species have lost approximately 8 percent of their habitat during the last 2–3 decades (Schaffer-Smith et al, 2016). Another 22 percent of the species are in danger of rapid depletion of breeding, endangered species introduction, and global warming
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