ABSTRACT
In addition to being bad for the environment, carbon emissions are also expensive. Greenhouse gas (GHG) emission growth has made financial institutions’ functions more crucial than ever. In this study, we use difference in differences (DID) to investigate the impact of ASEAN’s green subsidy program on renewable energy (RE) technology deployment for GHG emissions reduction. Our findings indicate that a green finance strategy for renewables may contribute to a better overall emissions reduction scenario. While these techniques effectively reduced CO2, nitrogen dioxide (NO2), and PM2.5, they were ineffective in reducing carbon monoxide (CO), ozone, or PM10. Local businesses’ activities are also employed to manage green funding initiatives’ consequences, finding that such initiatives have a greater impact on reducing GHG emissions in economically disadvantaged areas than in developed parts of the world. These results provide profitable micro-practice-based recommendations for controlling air quality.
