Unveiling the Role of ESG in Ensuring Low-Carbon Energy Transition
Самариддин МахмудовDepartment of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Department of Economics, Mamun University, Khiva, 220900, Uzbekistan; & Center of the Engagement of International Ranking Agencies, Tashkent State University of Economics, Tashkent, UzbekistanSardorbek MadaminovDepartment of Economics, Urgench State University, Urgench, UzbekistanDaniyor KurbanovDepartment of Business Management, Tashkent State University of Economics, Tashkent, UzbekistanNilufar NabiyevaDepartment of International Tourism and Economy, Kokand University, Kokand, Fergana, UzbekistanKhamid SabirovDepartment of Economics, Urgench Ranch University of Technology, Urgench 220100, UzbekistanRajabov NazirjonDepartment of International Scientific Journals and Ratings, Alfraganus University, Tashkent, UzbekistanMaxbuba RuzmetovaDepartment of Business and Management, Urgench State University, Urgench, Uzbekistan
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Currently, the position of ESG in energy transition is becoming one of the hot research topics in the academia. In this context, this work studies the impact of ESG on low-carbon energy risk in the panel of 148 nations over the period 2000-2023. As an econometric tool, Method of Moments Quantile Regression is employed which is robust method for heteroscedasticity. The estimations reveal that the promotion of ESG reduces low-carbon energy risk across all the quantiles from 10% to 90%. Furthermore, sub-dimension tests are conducted using environmental, social and governance indices of ESG separately. They also show the negative impact on low-carbon energy risk. Overall, the findings are aligned with both theoretical and economic linkages.
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