Zero-carbon energy transition in ASEAN countries: The role of carbon finance, carbon taxes, and sustainable energy technologies

Abstract

ASEAN are struggling due to gigantic challenges related to climate complexities and energy scarcity. In this regard, this is the prime concern of region that how low carbon energy transition can be embraced when there is a high consumption of non-renewable ratio in energy mix. Hence, the study examines the role of carbon finance, carbon taxes, sustainable energy technologies (solar and hydroelectric), industrialization, and population growth on the low-carbon energy transition by following MMQR approach. Outcomes indicate that carbon finance, carbon taxes, sustainable energy technologies (solar and hydroelectric), industrialization, and population growth are positively linked with low-carbon energy transition in ASEAN countries. Based on the evidences, it implies that in order to accelerate renewable shares, clean technologies adoption and green investment in climate friendly methods are needed to achieve zero-carbon goal.