Determinants of renewable energy consumption in the Fifth Technology Revolutions: Evidence from ASEAN countries

Hoa, Pham Xuan; Xuan, Vu Ngoc; Thu, Nguyen Thi Phuong

doi:10.1016/j.joitmc.2023.100190

Cited by 6 publications

(8 citation statements)

References 119 publications

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“…Additionally, energy use and GDP per capita in the region have increased significantly, with Singapore having a GDP per capita of $100 Thousand USD, followed by Brunei Darussalam, Malaysia, Thailand, Indonesia, Vietnam, Philippines, and that order. Cambodia is the least in GDP per capita of under $20 Thousand USD (2019, PPP) 9 , 12 , 18 . On the other hand, energy demand per capita is growing substantially in the region due to its increasing population 12 .…”

Section: Literature Reviewmentioning

confidence: 99%

“…Cambodia is the least in GDP per capita of under $20 Thousand USD (2019, PPP) 9 , 12 , 18 . On the other hand, energy demand per capita is growing substantially in the region due to its increasing population 12 . Brunei Darussalam is leading the region with 2000 per joule (PJ) of energy demand per capita, next to Singapore, and Myanmar is the least 9 , 12 .…”

Section: Literature Reviewmentioning

confidence: 99%

“…On the other hand, Baiashvili and Gattini 11 believe that investments in the form of foreign direct investment are harmful to the environment. Importantly, the ASEAN region heavily relies on energy imports, accounting for approximately 40% of its energy requirements 12 . As the region experiences a surge in energy demand driven by population growth and economic development, the necessity of energy imports becomes increasingly evident 13 .…”

Section: Introductionmentioning

confidence: 99%

“…Furthermore, energy use is not sustainable in line with the United Nations SDG7, and therefore, it is imperative for the region to diversify its energy mix by including cleaner sources to meet the demand sustainably. More than 650 million people in the ASEAN region consume about 85% of fossil fuels 9 , 12 , resulting in an increase in emission levels of over 75%. In 2018, the installed power generation capacity was about 252 gigawatts (GW), and almost 30% came from renewable sources, mostly hydroelectric sources; in 2020, the share increased to 33.5% due to the expansion of photovoltaics.…”

Section: Introductionmentioning

confidence: 99%

“…The ASEAN region also aims to achieve SDG7 and the Paris Agreement by 2030 by generating 23% of the primary energy supply and 35% of installed capacity from renewable sources 9 . Also, the region had only 14.3% of renewables in final primary energy consumption by 2021, which is below half in about a decade 12 . Meanwhile, the region has installed about 33.5 percent in a decade, a major increase in the last years 4 , 9 .…”

Section: Introductionmentioning

confidence: 99%

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Examining public private partnership investment in energy towards achieving sustainable development goal 7 for ASEAN region

Hossin,

Alemzero,

Abudu

et al. 2024

Sci Rep

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The gradual progress in aligning financial flows with the adoption of clean technologies reveals a persistent funding gap, signaling a global misallocation of capital. Addressing this challenge necessitates political leadership and robust policies to counteract the insecurities impeding the redirection of financial flows. This study investigates into the impact of energy-related public–private partnership investments (PPPIE) and macro-environmental variables on the attainment of Sustainable Development Goal 7 (SDG7) across Association of Southeast Asian Nations (ASEAN) member countries from 1999 to 2021. Employing the Dynamac command technique, we conduct autoregressive distribution lag analysis and the Bounds Cointegration Test to evaluate ASEAN’s efforts in achieving SDG7. Results indicate that a ten-year exogenous shock to the GDP growth rate initially causes a temporary decline in both GDP and PPPIE, albeit not statistically significant. However, in the long run, the shock becomes statistically significant, correlating with a negative decline in the GDP growth rate. This underscores the negative impact of external factors like the COVID-19 pandemic on the economic growth of ASEAN member countries. Specifically, a percentage increase in PPPIE leads to an 8.3% reduction in the GDP growth rate, revealing a detrimental and unsustainable impact on the economy. This signifies that energy investments in the ASEAN region, are predominantly unsustainable and adversely impact economic growth. Moreover, these energy investments contribute to a significant 52.6% increase in greenhouse gas emissions, indicating a substantial setback in the region’s progress towards meeting SDG7’s clean energy objectives by 2030. This suggests the present state of PPPIE does not align with sustainable clean energy goals of the region. Therefore, recommendations should include diversifying energy sources and investment strategies to enhance sustainable clean energy. Also, policymakers and researchers should reassess the terms and conditions of PPPIE, refining frameworks for private sector involvement to align with long-term economic sustainability goals.

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Section: Literature Reviewmentioning

confidence: 99%