Role of green finance and higher education in fostering the sustainability and energy transition practices

Abstract

Abstract This paper offers a qualitative analysis of how higher education and green finance impact the promotion of sustainable energy within the Regional Comprehensive Economic Partnership (RCEP) region from 2000 to 2020. The analysis reveals that higher education has a positive effect on sustainable energy development, with a 1% increase in the higher education population associated with a 0.19% rise in short-term and a 0.29% rise in long-term sustainable energy progress. Green finance also plays a crucial role, significantly accelerating green energy development in the RCEP region—each 1% increase in green finance results in a 0.43% boost in short-term and a 0.38% boost in long-term sustainable energy advancement. In contrast, increased fossil fuel production hampers sustainable energy development. Enhanced internet access further supports green energy progress, contributing to a 0.43% increase in the short-term and a 0.53% increase in the long-term. Policy recommendations include expanding the green finance market, advancing sustainable education initiatives, reducing reliance on fossil fuels, and improving internet access to further sustainable energy development in the RCEP region.