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The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies
Climate finance and carbon pricing are regarded as sustainable policy mechanisms for mitigating negative environmental externalities via the development of green financing projects and the imposition of taxes on carbon pollution generation. Financial literacy indicates that it is beneficial to inves...
Autores principales: | , , , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Springer Berlin Heidelberg
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8782217/ https://www.ncbi.nlm.nih.gov/pubmed/35064505 http://dx.doi.org/10.1007/s11356-022-18689-y |
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author | Khan, Haroon ur Rashid Usman, Bushra Zaman, Khalid Nassani, Abdelmohsen A. Haffar, Mohamed Muneer, Gulnaz |
author_facet | Khan, Haroon ur Rashid Usman, Bushra Zaman, Khalid Nassani, Abdelmohsen A. Haffar, Mohamed Muneer, Gulnaz |
author_sort | Khan, Haroon ur Rashid |
collection | PubMed |
description | Climate finance and carbon pricing are regarded as sustainable policy mechanisms for mitigating negative environmental externalities via the development of green financing projects and the imposition of taxes on carbon pollution generation. Financial literacy indicates that it is beneficial to invest in cleaner technology to advance the environmental sustainability goal. The current wave of the COVID-19 epidemic has had a detrimental effect on the world economies’ health and income. The pandemic crisis dwarfs previous global financial crises in terms of scope and severity, collapsing global financial markets. The study’s primary contribution is constructing a climate funding index (CFI) based on four critical factors: inbound foreign direct investment, renewable energy usage, research and development spending, and carbon damages. In a cross-sectional panel of 43 nations, the research evaluates the effect of climate funding, financial literacy, and carbon pricing in lowering exposure to coronavirus cases. The study utilized Newton–Raphson and Marquardt steps to estimate the current parameter estimates while evaluating the COVID-19 prediction model with level regressors using the robust least squares regression model (S-estimator). Additionally, the innovation accounting matrix predicts estimations over a specific period. The findings indicate that climate finance significantly reduces coronavirus exposure by introducing green financing initiatives that benefit human health, which eventually strengthens the immune system’s ability to fight infectious illnesses. Financial literacy and carbon pricing, on the other hand, are ineffectual in controlling coronavirus infections due to rising economic activity and densely inhabited areas that enable the transmission of coronavirus cases across countries. Similar findings were obtained using the alternative regression apparatus. The COVID-19 predicted variable was used as a “response variable,” and climate financing was shown to have a favorable impact on containing coronavirus exposure. As shown by the innovation accounting matrix, carbon pricing would drastically decrease coronavirus cases’ exposure over a time horizon. The study concludes that climate finance and carbon pricing were critical in improving air quality indicators, which improved countries’ health and wealth, allowing them to reduce coronavirus infections via sustainable healthcare reforms. |
format | Online Article Text |
id | pubmed-8782217 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Springer Berlin Heidelberg |
record_format | MEDLINE/PubMed |
spelling | pubmed-87822172022-01-24 The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies Khan, Haroon ur Rashid Usman, Bushra Zaman, Khalid Nassani, Abdelmohsen A. Haffar, Mohamed Muneer, Gulnaz Environ Sci Pollut Res Int Research Article Climate finance and carbon pricing are regarded as sustainable policy mechanisms for mitigating negative environmental externalities via the development of green financing projects and the imposition of taxes on carbon pollution generation. Financial literacy indicates that it is beneficial to invest in cleaner technology to advance the environmental sustainability goal. The current wave of the COVID-19 epidemic has had a detrimental effect on the world economies’ health and income. The pandemic crisis dwarfs previous global financial crises in terms of scope and severity, collapsing global financial markets. The study’s primary contribution is constructing a climate funding index (CFI) based on four critical factors: inbound foreign direct investment, renewable energy usage, research and development spending, and carbon damages. In a cross-sectional panel of 43 nations, the research evaluates the effect of climate funding, financial literacy, and carbon pricing in lowering exposure to coronavirus cases. The study utilized Newton–Raphson and Marquardt steps to estimate the current parameter estimates while evaluating the COVID-19 prediction model with level regressors using the robust least squares regression model (S-estimator). Additionally, the innovation accounting matrix predicts estimations over a specific period. The findings indicate that climate finance significantly reduces coronavirus exposure by introducing green financing initiatives that benefit human health, which eventually strengthens the immune system’s ability to fight infectious illnesses. Financial literacy and carbon pricing, on the other hand, are ineffectual in controlling coronavirus infections due to rising economic activity and densely inhabited areas that enable the transmission of coronavirus cases across countries. Similar findings were obtained using the alternative regression apparatus. The COVID-19 predicted variable was used as a “response variable,” and climate financing was shown to have a favorable impact on containing coronavirus exposure. As shown by the innovation accounting matrix, carbon pricing would drastically decrease coronavirus cases’ exposure over a time horizon. The study concludes that climate finance and carbon pricing were critical in improving air quality indicators, which improved countries’ health and wealth, allowing them to reduce coronavirus infections via sustainable healthcare reforms. Springer Berlin Heidelberg 2022-01-21 2022 /pmc/articles/PMC8782217/ /pubmed/35064505 http://dx.doi.org/10.1007/s11356-022-18689-y Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2022 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic. |
spellingShingle | Research Article Khan, Haroon ur Rashid Usman, Bushra Zaman, Khalid Nassani, Abdelmohsen A. Haffar, Mohamed Muneer, Gulnaz The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title | The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title_full | The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title_fullStr | The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title_full_unstemmed | The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title_short | The impact of carbon pricing, climate financing, and financial literacy on COVID-19 cases: go-for-green healthcare policies |
title_sort | impact of carbon pricing, climate financing, and financial literacy on covid-19 cases: go-for-green healthcare policies |
topic | Research Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8782217/ https://www.ncbi.nlm.nih.gov/pubmed/35064505 http://dx.doi.org/10.1007/s11356-022-18689-y |
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