Challenges in the Adoption of Green Energy for a Sustainable and Resilient Future
in: Environmental, Social and Corporate Governance and Climate Risk Management: Pathways for Sustainable Growth, CRC Press, pp.281-299, 2026
- Publication Type: Book Chapter / Chapter Research Book
- Publication Date: 2026
- Doi Number: 10.1201/9781003503804-20
- Publisher: CRC Press
- Page Numbers: pp.281-299
- Azerbaijan State University of Economics (UNEC) Affiliated: Yes
Abstract
Recently, there has been an abrupt rise in energy thirst along with development activities. It is a common belief that accessibility, affordability, and consistent prices will be a dream for economies. Thus, transitioning energy from conventional to modern sources has become a top priority globally. In this regard, several green initiatives have been considered by nations to maximize green energy adoption (GEA) at the domestic level: the Kyoto Protocol, the Paris Agreement, and the Sustainable Development Goals (SDGs). Under the SDGs, the United Nations (UN) has proposed Goal 7: affordable and clean energy for all, which compels all stakeholders to maximize GEA in their daily activities. However, the massive adoption of green energy is not an easy task for each economy. In the real world, a few challenges must be considered in front of practitioners to find green solutions and provide a sustainable and resilient future to the forthcoming generation. This empirical research considers FMOLS and IV-2SLS estimators and finds an inverse connection of income and green expenditure with GEA in the case of seven developed economies covering the period of 2012–2023. However, urbanization, industrialization, environmental technology, and green finance positively contribute to GEA. Under the income quadratic form, this study also confirms the Green Energy Environmental Kuznets Curve for selected nations. Also, this study proposes some interesting implications for meeting the desired GEA level.