An assessment of socioeconomic indicators and energy consumption by considering green financing

Countries are now facing the problem of carbon emissions due to the high growth rate of population. To bridge this gap of carbon emission reduction, this research investigates the impacts of socioeconomic indicators on green financing among divergent communities of Punjab, Pakistan via primary data collected from 800 households through a questionnaire, applying stratified and simple random sampling techniques. A linear regression technique estimates the effects of the socioeconomic indicators on green financing at the household level. The results indicate that education and knowledge of households about green financing have greater impact. Due to the significantly negative effect of monthly income, enhancement of monthly income should be preferred through different measures to make green financing possible. In this way, policy measures can be taken at the national level to raise people's knowledge and education about green financing. The government should take the initiative to help communities become aware about sustainable energy consumption. Incentives should be provided at the household level to encourage green financing for a better and cleaner environment. This study assists the government and communities to move towards a green environment by applying the easy way of green financing at a lower cost.